The meme-inspired cryptocurrency Dogecoin (CRYPTO: DOGE) has been one of the big investing stories of the year, rising from half a penny to more than $0.72 at its height earlier this year for an incredible gain of 14,300%. But like most other cryptocurrencies, Dogecoin has seen its price drop and is now back down to around $0.25.
While the frenzy behind Dogecoin has subsided somewhat, could this be a good time to buy the dip before its next big run? Let's take a look.
Started as a joke by two software engineers in 2013, Dogecoin is often called a meme cryptocurrency -- it was actually inspired by a meme that was popular in 2010 of a Shiba Inu, a breed of Japanese hunting dog. That's why you may see the Shiba Inu frequently associated with the cryptocurrency.
Source Fool.com