What has been the hottest investing trend since the beginning of the year? It's hard to give an objective answer to that question, but no matter where you stand on it, it's unquestionable that cryptocurrencies in general -- and Dogecoin (CRYPTO: DOGE) in particular -- need to be a part of that discussion. As cryptocurrencies are increasingly perceived as a hedge against inflation, Dogecoin has skyrocketed in value in the past few months. Nevertheless, the long-term bull case for Dogecoin remains flimsy.
For one, it remains a highly volatile asset. And random Tweets from Tesla CEO Elon Musk seem to be a major catalyst for its value to rise or fall, which is a worry in and of itself. Further, according to online business directory Cryptwerk, only about 1,300 businesses accept Dogecoin as payment, which is a minuscule fraction of the total number of companies in the U.S.
For these reasons (and many more), Dogecoin probably isn't your best bet if you're looking for an asset that can continue to perform well in the long run. Instead, it's best to turn to solid businesses with strong growth prospects. Two that fit the bill are Tandem Diabetes Care (NASDAQ: TNDM) and Veeva Systems (NYSE: VEEV) .
For further details see:
2 Unstoppable Growth Stocks That Can Make You Richer Than Dogecoin