Dogecoin’s rise to $1 in 2035 would represent a smaller gain compared to its past performance. The cryptocurrency’s value is driven by hype cycles rather than fundamentals. Investors have the option to buy cryptocurrencies with fixed supply caps, like Bitcoin. Dogecoin’s future value is uncertain due to its lack of real-world utility and reliance on hype.

Dogecoin has seen a massive gain of over 143,300% in the past decade, but replicating this growth in the next 10 years is unlikely. The token was created as a joke and lacks real value or utility. Hype cycles, triggered by events like Elon Musk’s tweets, drive Dogecoin’s price fluctuations. Consider investing in assets with proven value like Bitcoin instead.

Bitcoin has outperformed Dogecoin in recent years, with a 460% gain compared to Dogecoin’s 232%. Bitcoin’s limited supply of 21 million coins makes it a more attractive investment. Dogecoin, on the other hand, has no supply cap and adds new tokens to circulation regularly. Investing in Dogecoin to reach $1 by 2035 may not be a wise decision.

Before investing in Dogecoin, consider alternative options with strong growth potential. The Motley Fool Stock Advisor team recommends 10 stocks with high return potential, excluding Dogecoin. Previous recommendations have yielded significant returns, outperforming the market. Join Stock Advisor for access to the latest top stock picks and potential investment opportunities.

Read more at Nasdaq.: Can Dogecoin Reach $1 in 10 Years?