Popular meme coin Dogecoin (CRYPTO: DOGE) has been a good or bad investment, depending on when you bought it. The cryptocurrency is remarkably up over 28,000% over its lifetime but is down more than 80% from its peak in 2021. Yet, had you bought Dogecoin a year ago, you'd be up over 60% today. In other words, Dogecoin might be the most volatile thing you could invest money in.

Given Dogecoin's huge swings, who am I to say that it can't make investors rich? However, just because something is possible doesn't mean it's likely.

Dogecoin's impressive lifetime returns can seduce risk-seeking investors, but this is an illusion you should avoid.

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Source Fool.com