In the crypto market, there's arguably no more polarizing topic than meme coins. Quite simply, you either love them or hate them. Some view them as a fun get-rich-quick opportunity, while others view them as speculative investments with no real-world value.

That's true even for meme coins with multibillion-dollar market caps, such as Dogecoin (CRYPTO: DOGE). This dog-themed meme coin has been around since 2013, and now has a market cap north of $17 billion. So does Dogecoin deserve a spot in your portfolio or not?

Until Shiba Inu (CRYPTO: SHIB) launched in August 2020, Dogecoin reigned supreme as the top dog of the meme coin universe. When people talked about meme coins, they were talking about Dogecoin. Dogecoin built up a tremendous amount of public goodwill during that period, and during the last crypto bull market rally, it even attracted the support of billionaire Elon Musk.

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Source Fool.com