While Bitcoin and Ethereum have soared to new price peaks this year, Dogecoin—the market’s leading meme coin—remains over 70% below its 2021 all-time high, with analysts questioning whether DOGE will ever recapture its former glory.
Digital asset markets recently experienced a rally driven by the approval of U.S. Bitcoin ETFs and tailwinds from President Donald Trump’s victory, with the price of Bitcoin, ETH, XRP, Solana, and other leading tokens all breaking new records.
In sharp contrast, the price of Dogecoin (DOGE) has plateaued. DOGE peaked in 2021 at $0.71, it is now hovering near $0.22. Despite a brief rally during the 2024 U.S Presidential election where its price reached $0.48 in December, it has since failed to cross the $0.40.
DOGE’s underperformance raises a fundamental question: If meme coins thrive on hype and sentiment, then why isn't Dogecoin rallying with the rest of the cryptocurrency despite the bullish tailwinds?
Industry veterans point to Dogecoin’s lack of structural demand. Douglas Colkitt, founder of Ambient Finance, explains,
“Dogecoin runs on vibes, and the vibes haven’t reached 2021 mania levels yet. Unlike Bitcoin or ETH, there's no structural demand driver. It doesn't have staking yields, it doesn't anchor DeFi collateral...It's literally just a memecoin with a strong community behind it.”
Unlike Bitcoin, widely seen as ‘digital gold,’ or Ethereum, which anchors decentralized finance (DeFi) and stablecoin applications for institutions like JP Morgan and Meta, Dogecoin lacks staking, DeFi collateral, or meaningful use cases.
Grayscale’s Head of Research, Zach Pandl explains that institutional investors are looking into investing in something that offers real-world utility and revenue-generating project, and memecoin famously lacks it.
While there appears to be a strong demand for the coin, with a some speculating that a DOGE ETF might even be on its way, but the meme coin was originally created as a joke to poke fun at the crypto space. The coin later gained a cult following Tesla boss Elon Musk started tweeting about it.
Elon Musk once claimed that he liked the asset because it was "for the people," unlike Bitcoin. He also said it has the best sense of humour and that he likes DOGE because he also enjoys dogs and memes. In other words, it's just a joke to Musk, and investors see it much the same way.
Yet, adoption as a payment currency has stalled, and most traders treat it as a fun, speculative asset. DOGE has failed to match the returns of BTC and ETH in recent cycles. Arca CIO Jeff Dorman notes
“DOGE lacks a functional purpose, which is why it hasn’t experienced any significant increase.”
Dogecoin’s enduring popularity stems from the nostalgia, humor, and speculative demand of its online community. As long as investors are willing to bet on internet culture, there will be a bid for DOGE.
But as the crypto market matures and prioritizes utility and scalable tech, investors should not confuse “vibes” with meaningful adoption. For now, Dogecoin remains an iconic, if stagnant, fixture—waiting for the next mania, technological milestone, or ETF headline to ignite its return.
The SEC dropped its lawsuit against Binance after nearly three years of legal action over alleged securities violations. The case was closed as the new SEC leadership began easing its stance on crypto regulation.
WeatherlyTwo Russian crypto entrepreneurs were kidnapped in Buenos Aires and held for a $43,000 crypto ransom. They were assaulted and released within 24 hours after a friend paid. Interpol has issued a red notice for the suspects, who fled to the UAE.
KikyoParis Saint-Germain became the first major sports club to hold Bitcoin in its treasury, converting part of its cash reserves in 2024. The announcement boosted the PSG Fan Token price and reflects the club’s focus on digital finance for its young global audience.
AnaisTether announced a $2 billion investment to become the world’s largest Bitcoin miner and now holds over 100,000 BTC, 50 tons of gold, and $120 billion in U.S. Treasuries. It also reported $13 billion in 2024 profits and continues expanding USDT use for payments and financial access worldwide.
WeatherlyThailand’s SEC is banning five major crypto exchanges on June 28, 2025, because they operated without proper local licenses. The ban aims to protect investors and prevent these platforms from being used for money laundering and illegal activities.
WeatherlyThe SEC said common crypto staking practices on proof-of-stake blockchains are not considered securities transactions. This new guidance gives more clarity to stakers and companies, though it is not legally binding and doesn't cover all types of staking.
AnaisSilk Road founder Ross Ulbricht has resurfaced as a polarising crypto figure, raising $1.8 million in Bitcoin by auctioning prison memorabilia. Days later, he received a surprise 300 BTC donation worth $31 million—reigniting debate over whether this support reflects alignment with his ideals or raises ethical concerns in today’s crypto culture.
CatherineElon Musk’s XChat app offers encrypted chats, vanishing messages, and cross-platform calls without a phone number. Built in Rust with Bitcoin-grade encryption, it prioritises privacy—but experts warn quantum computing could soon undermine its security.
KikyoWorld Vision Korea became the first organisation in South Korea to legally sell cryptocurrency after new rules took effect on 1 June. The NGO sold Ethereum donated by users on Upbit, marking the start of legal crypto trading for nonprofits and other approved groups.
WeatherlyJob candidates now interview with AI “recruiters” that ask follow-up questions, evaluate skills, and give feedback to hiring managers. Startups like Apriora, HeyMilo AI, and Ribbon report fast adoption of their real-time AI video interview platforms, transforming hiring processes.
Catherine