An internet meme turned cryptocurrency, Dogecoin teaches the world about making money.
Source: Dogecoin.com
Approximate Market Cap: $7 billion
Year Established: 2013
Cost Per Transaction: 3 cents
2020 Return: 118%
Score: ★★★★★
In 2013, IBM (NYSE:IBM) software engineer Billy Markus founded Dogecoin as a meme joke. And like most memes, Dogecoin saw its 15 minutes of fame. In 2017, DOGE briefly rocketed 85,000% as the internet found its new amusement; it subsequently lost 98% of its value.
But in the world of cryptocurrencies and memes alike, second acts DO exist. In December 2020, Tesla (NASDAQ:TSLA) CEO Elon Musk sent Dogecoin back up 200% in a week simply by tweeting about it. As 2021 rolls around, this newfound popularity could send the coin up to speculative heights. Dogecoin does have its merits: its faster block time makes it better at processing payments than Bitcoin can. But in an asset class where popularity trounces usability any day of the week, Dogecoin could quickly return 1,000%.
Just make sure you take your profits.