Is Dogecoin a Buy Under $0.25?

The Performance of Dogecoin in 2025

Dogecoin (DOGEUSD) has not been a strong performer this year, with a year-to-date decline of nearly 27%. While many other popular cryptocurrencies have shown signs of growth and are preparing for the next upward trend, Dogecoin has struggled to maintain its relevance. This underperformance raises questions about the long-term viability of the coin and whether it still holds value for investors.

A Brief History of Dogecoin

Dogecoin was originally created as a lighthearted joke in the early 2010s by software engineers Billy Markus and Jackson Palmer. It launched on December 6, 2013, and quickly gained a following. What started as a parody of the cryptocurrency market soon turned into a speculative frenzy, driven largely by community support and memes.

Despite its humorous origins, Dogecoin has some unique features that set it apart from other cryptocurrencies. One of its defining characteristics is its unlimited supply, which means there is no cap on the number of coins that can be mined. Additionally, Dogecoin uses the Scrypt algorithm for its proof-of-work consensus mechanism, allowing for faster transaction times compared to Bitcoin (BTCUSD). The block time for Dogecoin is just one minute, while Bitcoin’s block time is around 10 minutes. This makes transactions on the Dogecoin network quicker, although the overall network load is relatively light due to fewer users and transactions.

Why Dogecoin Has Been a Disappointing Investment

In 2025, the cryptocurrency landscape has evolved significantly. Many projects now offer low transaction fees and fast processing times, making Dogecoin less competitive. As a result, there are fewer compelling reasons to invest in DOGE unless you are hoping for a major event, such as Elon Musk investing a portion of his wealth in the coin.

Musk's involvement with Dogecoin has had a mixed impact. While his tweets occasionally caused short-term price spikes, these effects have diminished over time. His recent activities, including his role in the Department of Government Efficiency (or DOGE), have raised concerns about the coin’s long-term prospects. Investors are now questioning whether his continued engagement will lead to sustained growth or further volatility.

Moreover, even top-tier cryptocurrencies have reduced their transaction fees in recent years. Ethereum (ETHUSD), Solana (SOLUSD), and Bitcoin itself now offer much lower costs for users, making them more attractive options. These platforms are also more inflation-resistant than Dogecoin, as they add significantly fewer coins to the total supply each day.

Should You Buy or Sell Dogecoin at $0.23?

At $0.23, Dogecoin is trading in a range similar to where it was when it was last discussed. There have been some positive developments, such as a whale purchasing $200 million worth of DOGE as ETF approval odds increased to 74% based on Polymarket data. Additionally, Bit Origin (BTOG) has pledged to invest more in Dogecoin beyond its initial $500 million commitment.

However, my stance remains unchanged: you should only consider buying DOGE if you are confident that an altseason is coming. In such a scenario, most altcoins with name recognition, including Dogecoin, could see significant gains. But I believe that focusing solely on DOGE may cause you to miss out on better opportunities. With Ethereum, Solana, and other big-name utility altcoins performing strongly, the opportunity cost of investing in Dogecoin is too high right now.

Final Thoughts

As of the date of publication, Omor Ibne Ehsan did not hold any positions in the securities mentioned in this article. The information provided is for informational purposes only and should not be considered financial advice. For more details, please refer to the HAWXTECH Disclosure Policy.

Stay updated with the latest news and insights from HAWXTECH. Here are some recent updates:

• Trump Signs Order Allowing Americans to Add Crypto in Their 401Ks. Here Are 3 of the Top-Rated Coins to Buy Now.
• Is Dogecoin a Buy Below $0.25?
• Circle Boosts Revenue 53%. How Should You Play CRCL Stock Here?
• BitMine Immersion Now Holds 1.15 Million Ethereum Tokens. Should You Buy BMNR Stock Here?

Get exclusive insights with the FREE HAWXTECHBrief newsletter. Sign up for a midday guide to what's moving stocks, sectors, and investor sentiment. Subscribe today!