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If

Bitcoin (CCC:>BTC-USD

) has ever felt speculative, consider

Dogecoin (CCC:>DOGE-USD

) – a cryptocurrency that started as a joke in 2013. At the time, many saw it as a “cryptocurrency doomed to failure.” Fast forward to 2021, and Dogecoin’s investors have been the ones laughing to the bank. Anyone who invested $10,000 in the “meme coin” at the start of the year would have almost $1,000,000 today.

A concept image of Dogecoin (DOGE) with the Shiba Inu and text on a gold token.

Source: Shutterstock

Yet, for all the lucky Dogecoin investors who got in early, thousands more have watched from the sidelines. These skeptics have worried for all the right reasons; Dogecoin and all cryptocurrencies have no intrinsic value. Any buyer could potentially become “the last person holding the bag” in one of history’s most fantastic bubbles. Such awareness has protected investors for centuries.

But such truths are cold comfort to those missing out today.

That’s because Dogecoin’s value a decade from now is more an existential question than a practical one. By the time historians start writing about decentralized cryptocurrencies, original investors could have sold out long before.

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