Meme coins, led by Dogecoin, currently account for 1.25% of the total crypto market value, but their long-term investment case is weak. Performance data can be deceiving because many launch near zero and then crash, leaving late buyers with steep losses. There is no easy way to diversify across top meme coins, as no ETF holds a broad basket of them. Dogecoin, for example, is down 89% from its all-time high of $0.74 despite a 19,000% gain since its 2013 launch. Meme coins are better suited for short-term speculation than long-term portfolios.
Macy’s IncDogecoinArticle argues meme coins lack long-term investment case, citing Dogecoin's 89% drop from all-time high and weak fundamentals.