Dogecoin Crashed Below $0.20. Buy the Dip, or Run for the Hills? [Yahoo! Finance]
Tesla, Inc. (TSLA)
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The Doge meme was sweeping the internet at the time, and they used it as inspiration to launch Dogecoin. It went on to become one of the world's most valuable cryptocurrencies in 2021 when its market capitalization topped $90 billion, helped by influential figures like Elon Musk who started promoting it online. But Dogecoin failed to find a real use case, and since speculative frenzies never last, the meme token lost 90% of its value by mid-2022. Investors spent the next two years licking their wounds, until Dogecoin staged another incredible rally when Donald Trump won the presidential election last November. It failed to surpass its all-time high, but it did end 2024 with a whopping 251% gain. The meme token is now crashing once again, leaving investors feeling a sense of déjà vu. So is this a buying opportunity or the start of a much steeper decline? Tesla Chief Executive Officer Elon Musk has supported Dogecoin since 2019 by regularly posting memes on social media and enga
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