Dogecoin (CRYPTO: DOGE) exploded in 2021, jumping over 4,000% year-to-date. But at $0.24 per coin, prices are down roughly 68% from their all-time high of $0.74 reached in May. And more downside could be on the horizon as the meme cryptocurrency grapples with poor fundamentals and a lack of real-world use cases. Let's dig deeper to find out why it might be time for investors to jump ship.
Cryptocurrencies generally struggle to achieve real-world usefulness because of their volatility and novelty, which often make them incompatible with existing financial infrastructure. Dogecoin faces these challenges to a much greater degree than many of its rivals.
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Source Fool.com