From Nasdaq: 2024-11-17 06:00:00

Bitcoin’s price has doubled in the past year, reaching near all-time highs. Influencers like Trump and Musk have fueled the rally, but Dogecoin has outperformed Bitcoin, growing over 400% in the past year. Dogecoin’s latest rally was fueled by Trump’s election victory and governmental plans for efficiency.

Despite Dogecoin’s recent success, it still faces challenges. Unlike Bitcoin, Dogecoin has an unlimited supply, and it lacks support for smart contracts. These limitations hinder its long-term potential compared to tokens like Ethereum. Inflation and lack of smart contract support make Dogecoin less appealing to developers and investors.

Investors may be tempted by Dogecoin’s recent gains, but Bitcoin remains a more stable and lucrative long-term investment. Bitcoin’s scheduled halvings and increasing institutional adoption make it a safer bet for investors seeking lasting value. Dogecoin may be popular now, but Bitcoin’s fundamentals suggest it will be a better choice in the long run.

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Read more at Nasdaq: Should You Forget Bitcoin and Buy Dogecoin Instead?