Dogecoin and Solana have seen their prices fall a lot recently. That doesn’t mean they’re equally worthy of your investment. Only one of these assets even has an investment thesis. Dogecoin (CRYPTO: DOGE) and Solana (CRYPTO: SOL) both had their time in the sun during the now-mythical 2021 crypto bull market.
But both coins have since struggled to surpass their former glory, and their performance over the last 12 months has been quite similar — and quite poor; Dogecoin is down by 61%, and Solana is down by 52%. So if you’re looking to allocate a large investment of $4,000, which of these two is the better buy? There’s a right answer here even if it goes against what your gut might say. DON’T BUY DOGECOIN
In other words, people need to buy the coin to use it, which they appear to regularly want to do. Assuming its lead in cost savings and speed is maintained, which is likely, the coin will continue to grow as it onboards more apps, more users, and more reasons for the circulating capital to stay on the chain. So for an investment of $4,000, there’s simply no contest: Solana wins by a million miles, because it has multiple plausible drivers for sustained demand. In contrast, Dogecoin has no investment thesis.
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