Dogecoin – The Meme Coin Still in the Top 10 Despite a 32% Drop in 2025

The year 2025 is proving to be a rather unfavorable year for Dogecoin (CRYPTO: DOGE). Since the beginning of the year, this cryptocurrency has fallen by up to 32%, making it one of the worst-performing cryptocurrencies among the major coins. Meanwhile, Bitcoin (CRYPTO: BTC) – the "king" of the market – has risen by 22% and even reached a new historical high of 124,000 USD in the summer. What makes Dogecoin – a coin that was created as a joke – still maintain its position in the top 10 cryptocurrencies by market capitalization in the world? And why do many investors still believe that Dogecoin has growth potential?

1. The Power Comes From The Huge Supply The key point when talking about Dogecoin is the extremely large circulating supply - currently around 150.5 billion DOGE. Thanks to this, although each DOGE is priced at 0.21 USD, its market capitalization still reaches 31.5 billion USD. This is why Dogecoin is still mentioned whenever investors discuss "potential" coins – simply because math doesn't lie: Large quantity × small value = a huge market capitalization. This story also explains why many new meme coins are launched with an extremely large supply. Because their intrinsic value is almost zero, in order to achieve a high ranking on the market capitalization chart, the supply must be measured in trillions. Pepe (CRYPTO: PEPE): 420 trillion tokens in circulation. Shiba Inu (CRYPTO: SHIB): 589 trillion tokens in circulation. Thanks to this massive supply, even though the price is nearly 0, they can still rank in the top 30 largest coins in the world.
2. The Biggest Issue with Dogecoin – Unlimited Supply Unlike Bitcoin – which has a maximum supply of 21 million BTC throughout its history, Dogecoin has no supply limit. This means that DOGE will continue to be inflated over time, and its value risks being gradually diluted. For long-term investors, this is a significant drawback. Bitcoin is considered "digital gold" due to its scarcity. In contrast, Dogecoin resembles a currency that keeps being printed, lacking the value preservation factor in the long term.
3. Unique Value: Brand and Humor Despite being criticized for its technical aspects and applicability, Dogecoin still possesses an intangible value – that is its brand. The image of the cute Shiba Inu dog – the symbol of Dogecoin – has become an Internet culture meme. Mark Cuban once accepted DOGE to purchase NBA tickets and Dallas Mavericks merchandise (mainly for marketing).Elon Musk has mentioned DOGE multiple times on Twitter and even named a fictional government agency (Department of Government Efficiency – DOGE) after this coin. The key factors of humor, fun, and a loyal community have helped Dogecoin survive to this day.
4. Should You Invest in Dogecoin? After more than a decade, Dogecoin has never surpassed the 1 USD mark, despite receiving support from famous tech billionaires. If you are looking for a serious, long-term investment, Dogecoin is not the ideal choice. However, if you just want to participate in the world of cryptocurrency for fun, holding a little DOGE can provide an exciting feeling – just like buying a lottery ticket. Conclusion Dogecoin may continue to exist thanks to its strong brand and supportive community. However, in terms of investment, it is not "digital gold", but just a meme coin that thrives on attention. For those seeking sustainable value, it may be time to look at other options.