Stephen is reportedly going to help book guests.

Key Points

• Cryptocurrencies have run circles around Wall Street's major stock indexes over the last decade, with popular digital tokens XRP and DOGE leading the charge.

• Though adoption rates for payment-focused tokens have climbed, they're still quite modest compared to time-tested transaction methods.

• XRP and Dogecoin appear to be prime examples of the financial markets idiom, "buy the rumor, sell the news."

• These 10 stocks could mint the next wave of millionaires ›

Compared to other asset classes, such as bonds, commodities, and real estate, the stock market has been the top wealth creator over the past century. But over the trailing decade, nothing has come close to rivaling the gains delivered by cryptocurrencies.

Whereas the benchmark S&P 500 (SNPINDEX: ^GSPC) has roughly tripled over the trailing decade, prominent payment-based digital currencies XRP (CRYPTO: XRP) and Dogecoin (CRYPTO: DOGE) have soared by more than 34,000% and nearly 117,000%, respectively, based on data from YCharts.

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While these popular cryptocurrencies have become staples in the portfolios of digital-asset investors, both Ripple-created XRP and Dogecoin appear primed for a difficult August, and a potentially rough second-half of 2025, for a variety of reasons.

XRP's and Dogecoin's adoption rates aren't as impressive as you might think

Aside from the appeal of decentralization (XRP is only partially decentralized since it's the bridge currency developed for Ripple's payment network), one of the primary selling points of cryptocurrencies and their underlying blockchain networks is the ability to facilitate peer-to-peer and/or cross-border transactions faster, safer, and considerably cheaper than existing methods.

XRP, which is the bridge currency used in cross-border transactions for financial institutions, and Dogecoin, which is primarily used for peer-to-peer and merchant transactions, have seen their usage rates grow over time.

However, adoption rates remain relatively tame. For instance, in the neighborhood of 300 global financial institutions are using RippleNet for cross-border payments. But what's worth noting is that not all of these banks are required to use XRP as the intermediary currency. While RippleNet grows in adoption, demand for XRP isn't increasing on a 1-for-1 basis.

As for Dogecoin, it received a boost when Tesla CEO Elon Musk, who's been a longtime Dogecoin enthusiast and small stakeholder, announced his company would accept DOGE for select goods. But outside of Tesla, DOGE token use cases are minimal, with around 2,500 merchants accepting it in 2024, based on data collected by Cryptopolitan.

Although traditional payment methods are costlier and slower, they're still the undisputed top option.

Neither XRP Ledger nor Dogecoin offers unbeatable networks

To build on the first point, neither XRP Ledger nor Dogecoin offers blockchain networks that stand out as unbeatable.

To give credit where credit is due, these blockchain networks are considerably faster and cheaper than the Society for Worldwide Interbank Financial Telecommunication, or SWIFT, which has been the standard for cross-border transactions for decades. Instead of waiting days for traditional payments to settle, XRP Ledger can validate and settle payments in three to five seconds for a fraction of a penny.

Meanwhile, Dogecoin averages a settlement time of roughly one minute, with most transactions costing in the neighborhood of $0.02.

However, Solana offers the ability to complete international transactions for a fraction of a cent in an average settlement time of 400 milliseconds. Similarly, Stellar, which is more commonly used for peer-to-peer transactions in similar fashion to DOGE, can settle for a fraction of a penny in five seconds or less.

Buy the rumor, sell the news

Another reason to expect XRP and Dogecoin to struggle mightily in August, if not well beyond, is the common financial markets idiom, "buy the rumor, sell the news."

Both tokens had tangible catalysts entering 2025. President Trump's November victory paved the way for the resignation of now-former U.S. Securities and Exchange Commission Chair Gary Gensler, who was generally skeptical of digital assets and had ongoing litigation against Ripple. With Gensler leaving office on Jan. 20, Trump's inauguration date, it rolled out the red carpet for Ripple's litigation woes to be cleared up.

As for Dogecoin, Trump's victory led to Elon Musk's being used as a special employee for the Department of Government Efficiency (DOGE). Although this "DOGE" has absolutely nothing to do with actual DOGE tokens, Musk's having the president's ear was viewed as a positive for all digital assets -- especially Dogecoin.

The problem is that these catalysts are now firmly in the rearview mirror. Elon Musk is no longer part of DOGE, and Gensler left his role more than six months ago. With no clear immediate catalysts for XRP or Dogecoin, it may be time for investors to "sell the news."

Crypto is tethered to an exceptionally pricey stock market

Perhaps the most-damning of all reasons XRP and Dogecoin can tumble in August, and possibly for many months thereafter, is the inextricable link between the crypto market and stock market.

When cryptocurrencies were initially conceived, they were prominently viewed as a separate asset class that, in some instances, would act as a hedge against inflation and an alternative to stocks. But as time has passed, digital assets have ebbed and flowed in lockstep with equities.

The good news here is that Wall Street's major stock indexes spend a disproportionate amount of time climbing, rather than falling. Based on data published by Bespoke Investment Group in June 2023, the average S&P 500 bear market since the start of the Great Depression in September 1929 has lasted only 286 calendar days. In comparison, the typical S&P 500 bull market endured for 1,011 calendar days, or approximately 3.5 times as long as the average bear market.

But there's an asterisk that should be placed next to the current S&P 500 bull market. Specifically, this is the third-priciest continuous bull market when back-tested 154 years, based on data from the Shiller price-to-earnings ratio. When valuations become extended to the upside as they are now, it's simply a matter of when, not if, stocks endure a sizable downturn.

If the stock market corrects lower, there's a very high probability XRP and Dogecoin will follow suit at an accelerated pace.

Where to invest $1,000 right now

When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor’s total average return is 1,026%* — a market-crushing outperformance compared to 180% for the S&P 500.

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Sean Williams has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Solana, Tesla, and XRP. The Motley Fool has a disclosure policy.

• A key DOGE member was attacked in an attempted carjacking in Washington, DC, police said.
• President Donald Trump and Elon Musk spoke out after the assault on Edward Coristine.
• Here's what police say happened to the 19-year-old software engineer.

A key member of the Department of Government Efficiency was attacked in an attempted carjacking in Washington, DC, over the weekend, authorities said — and a newly-released police report sheds light on what the staffer said happened.

Elon Musk, the onetime de facto leader of the government agency, and President Donald Trump spoke out after the assault left 19-year-old software engineer Edward Coristine beaten and bloodied.

Musk, in a Tuesday evening post on X that reshared Trump's earlier social media post threatening a federal takeover, said it was time to "federalize DC" as he shared his version of events.

"A few days ago, a gang of about a dozen young men tried to assault a woman in her car at night in DC," Musk wrote. "A @Doge team member saw what was happening, ran to defend her and was severely beaten to the point of concussion, but he saved her."

Business Insider obtained a copy of the incident report from the Metropolitan Police Department.

The police report says that around 3 a.m. on Sunday, MPD officers in a cruiser saw a group of about 10 young people surrounding Coristine's car and assaulting him.

The officers quickly intervened, and the suspects started to run, according to the incident report. Police were able to stop two of them — a 15-year-old boy and a 15-year-old girl — who they later arrested on a charge of unarmed carjacking.

Coristine told police that the group approached him and a woman, identified in the report as his "significant other," and made a comment about taking the vehicle, the police report said.

"At that point, for her safety, he pushed his significant other" into the vehicle "and turned to deal with the suspects," the police report said, adding that the assailants then began to beat Coristine.

The Metropolitan Police Department said in a press release that the couple was standing next to their vehicle on Swann Street when the suspects first approached, "demanded" the vehicle, and then assaulted Coristine.

The police report says that an iPhone 16 was stolen during the incident.

Coristine was treated at the scene for his injuries by emergency responders, police said.

A spokesperson for the Metropolitan Police Department told Business Insider that its incident report is accurate and contains no errors.

Musk officially stepped back from his role in the Trump administration, working with DOGE, in May. Coristine still remains part of the federal government.

Coristine, who was once known online as "Big Balls," started working at the Social Security Administration following his DOGE stint. He could not be immediately reached for comment for this story.

"Crime in Washington, D.C., is totally out of control," Trump said in his Tuesday Truth Social post, adding, "The most recent victim was beaten mercilessly by local thugs."

The post included an apparent photo of Coristine showing him bloodied and shirtless, sitting on the ground.

Two 15-year-olds have been charged with unarmed carjacking after allegedly attacking Edward "Big Balls" Coristine, the teenage software engineer and former Neuralink intern who became a prominent figure in the Trump administration's cost-cutting Department of Government Efficiency (DOGE).

Key Points

• Dogecoin is rising today as investors continue to bet that the crypto bull market has legs.

• Major new crypto legislation is expected to be voted on by the House of Representatives today.

• A company recently announced that it had raised $500 million to invest in Dogecoin.

• 10 stocks we like better than Dogecoin ›

Dogecoin (CRYPTO: DOGE) is continuing to move higher in Thursday's trading. The meme coin's token price was up 3.1% over the past 24 hours as of 3 p.m. ET. Meanwhile, Bitcoin was up 0.1% over the stretch, and Ethereum's token price had risen 2.9%.

Dogecoin's valuation is rising today as the "Crypto Week" legislative sessions held by the House of Representatives have shined a spotlight on the industry and helped support bullish momentum. The cryptocurrency may also be getting a boost from news that a company is making the token central to its crypto treasury strategy.

Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »

Dogecoin rises as "Crypto Week" spotlights the cryptocurrency industry

The House of Representatives recently moved to advance votes for three new bills that would create new regulations and guidelines for the crypto industry. The votes are expected to take place today and could wind up opening the doors for continued bullish momentum for Dogecoin and other cryptocurrencies. Despite some recent data showing that inflation was higher than expected in June, crypto investors have also continued to bet that the Federal Reserve will reduce the benchmark rate multiple times this year.

Could Dogecoin be on the verge of powerful new catalysts?

Bit Origin announced today that it raised $500 million in funding that will be used to build a Dogecoin treasury. The news marks one of the first times that Dogecoin has been made central to company's investing strategies.

MicroStrategy, which is now doing business as Strategy, effectively pioneered the growth approach of making Bitcoin central to its operations and growth strategy. By issuing new shares and pursuing other avenues to raise funding, Strategy gave itself capital that could then be used to purchase Bitcoin. The move was a bet that Bitcoin's share price would rise significantly over time, and it's paid off in a big way for Strategy. While it remains to be seen if Dogecoin will attract large interest from other companies seeking to carry out the crypto treasury game plan, it could wind up being a significant bullish valuation catalyst for the token.

Should you invest $1,000 in Dogecoin right now?

Before you buy stock in Dogecoin, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Dogecoin wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $674,281!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,050,415!*

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*Stock Advisor returns as of July 15, 2025

Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy.

Key Points

• Dogecoin has a big sail to catch sentiment-driven hype.

• XRP has real utility and features that attract capital to its chain.

• Delivering millionaire-maker returns is a very high bar for most assets to clear.

Sprinting races and marathons both cover distance, but using the strategy that works in one will wreck you in the other. Crypto investors chasing "millionaire-maker" coins often confuse the two, buying a meme coin sprinting across social media.

Two perennial favorites in this conversation are Dogecoin (CRYPTO: DOGE) and XRP (CRYPTO: XRP).

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Both have cult followings and large market caps, yet only one is building the muscle needed for a long haul. Let's see which, if either, has the special sauce to make investors into millionaires, and then separately answer the question of whether either deserves a slot in a sensible portfolio.

Dogecoin's upside is only limited by investor enthusiasm

Dogecoin commands a respectable $25.7 billion market cap at a price near $0.17 and 150 billion coins in circulation.

Those numbers matter, because every year, another 5 billion DOGE trickles into the supply through block rewards. The protocol has no cap on supply, so supply growth is perpetual, even if the inflation rate shrinks over time.

With fundamentals this thin, price action has long hinged on celebrity shout-outs and macro phenomena that dictate liquidity conditions in the crypto sector. Elon Musk's social media posts have, in the past, served as prime catalysts for sudden spikes and slides in the coin's value. That isn't something serious investors look for when they're evaluating an asset's merits, because it's actually a risk.

Separately, the coin has no formal road map, and no major functionality upgrades are in progress. It's a meme coin, not a living project that could offer real utility someday.

So what does it take to parlay a $10,000 stake in this coin into $1 million? Per the math, a neat 100-fold move would do the trick. That would lift its market cap to roughly $2.5 trillion, which is to say, greater than Bitcoin's entire float.

That leap also implies mass adoption, a killer utility use, or a meme craze bigger than any in internet history, enabled by multiple firehoses of supporting liquidity from central bankers around the world.

None of those things look at all likely.

This coin won't make anyone into a millionaire again.

XRP has real utility, but it's still a long shot here

XRP's market cap sits north of $133 billion, at about $2.26 per coin. Demand for the coin stems from more than silly pictures of dogs.

First, the development cadence of its chain is brisk.

On June 30, Ripple, the company that develops XRP, pushed its long-awaited Ethereum Virtual Machine (EVM) sidechain to the mainnet, letting smart contracts written in the same language as what's used for Ethereum run on the XRP ledger (XRPL) for a fraction of typical gas costs. That opens the door to onboarding thousands of existing decentralized applications (dApps) and app developers to XRP, and it is very probable it'll be stealing them from the Ethereum ecosystem, perhaps permanently.

Second, Ripple is spending to widen XRPL's moat.

The April acquisition of prime broker Hidden Road for more than $1.2 billion gives institutional investors an on-ramp for lending, cross-margining their capital, and transaction settlement that operates directly on the ledger. And Ripple's road map includes building more compliance tooling aimed squarely at enticing banks and asset managers to store their capital on its chain.

These moves won't send the coin to the moon overnight, but they do give XRP multiple levers in the form of transaction fees, stablecoin issuance, and custody tooling to capture a large amount of value as the finance sector moves to using blockchains as its plumbing. If XRP nabs even a sliver of the trillions in real-world assets (RWAs) forecast to migrate to on-chain management this decade, the upside will be enormous for investors who build up a position now.

But could XRP 100x, given its rosy setup today?

A jump to roughly $220 per coin would take its cap to about $13 trillion. That's still massive, and therefore very improbable in the near term.

But, unlike Dogecoin, XRP has plausible growth drivers in the form of enterprise adoption and a living road map. Don't confuse its better odds of making investors richer with good odds for it making anyone into a millionaire.

For investors, that translates to moderation. Buy and hold XRP if you're interested in getting some exposure to its considerable upside, but keep your expectations in check, and don't over-invest, especially not if your portfolio isn't sufficiently diversified first.

Should you invest $1,000 in Dogecoin right now?

Before you buy stock in Dogecoin, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Dogecoin wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $699,558!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $976,677!*

Now, it’s worth noting Stock Advisor’s total average return is 1,060% — a market-crushing outperformance compared to 180% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.

See the 10 stocks »

*Stock Advisor returns as of June 30, 2025

Alex Carchidi has positions in Bitcoin and Ethereum. The Motley Fool has positions in and recommends Bitcoin, Ethereum, and XRP. The Motley Fool has a disclosure policy.

Key Points

• Nearly 5 billion Dogecoins are mined each year, and there's no limit to the total number that can be made.

• Dogecoin's value rises and falls solely on the whims of investors.

• The cryptocurrency lacks a strong developer community and a stringent review process.

Dogecoin (CRYPTO: DOGE) became a popular cryptocurrency when it debuted as a joke in 2013. It has had several stints when its value has soared since then. Most recently, Dogecoin jumped nearly 190% in the weeks following President​​ Donald Trump's 2024 election.

But Dogecoin has been falling hard lately, and its value is down 46% since the beginning of this year. With such a significant fall, some investors may be wondering if now is a good time to buy Dogecoin on the dip. Here are three reasons why I think that'd be a mistake.

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1. There's no limit on how many Dogecoins can be mined

Scarcity is one of the biggest factors in driving up the value of nearly anything, from rare baseball cards to diamonds. But if a nearly unlimited amount of something can be produced, scarcity doesn't exist, and values are likely to, eventually, fall.

That's why it's problematic that there's no limit to how many Dogecoins can be mined. Even if its value soars over a period, as more coins are mined, crypto investors may be less inclined to buy the coin, which could cause its value to fall. Each year, nearly 5 billion Dogecoins are mined.

Compare that with Bitcoin, of which there can only be 21 million total coins, forever. Both cryptocurrencies may have a certain amount of speculation baked into their prices, but at least Bitcoin is, and always will be, a rare digital asset.

2. Dogecoin's value is deeply rooted in investor sentiment

Investing in nearly anything, including stocks, isn't an exact science. The hope when you buy a stock is that the company will perform well over time -- selling lots of its products and services and making a profit -- so the value of the company increases and pushes the share price higher.

The other side to this is that investor sentiment will also be mixed into the price of that stock, for better or worse. This is why you'll see a stock price fall after a company reports strong quarterly revenue and earnings, simply because investors hoped the financial performance would be even better.

The problem with Dogecoin is that its value is nearly completely reliant on investor sentiment. Sure, the crypto has some limited real-world use cases for completing transactions quickly, but mostly, its price rises and falls based on how investors feel.

While almost all investments can move up or down in the short term based on how investors feel, over the long term, they tend to rise and fall based on concrete metrics (like sales and earnings). Since Dogecoin has limited real-world applications and was created as a joke, its value is almost entirely dependent on the constantly shifting whims of online investors.

3. Dogecoin doesn't have any strategic development

Established cryptocurrencies like Bitcoin and Ethereum have robust developer ecosystems that manage and update their code databases. But because Dogecoin started as a joke, its original developers abandoned the project years ago, and it's now updated sporadically by volunteers.

That means there's no strategic development in place for maintaining, improving, or increasing the adoption of Dogecoin's blockchain. Compare that to Bitcoin, which has a strict review process for updates, and Ethereum, which has thousands of developers that help make core updates. While all of these cryptocurrencies have differing development processes, Dogecoin is essentially stagnant, while Bitcoin and Ethereum have very intentional, even if slow, changes.

Dogecoin's future applications are limited, and there's little reason to believe that Dogecoin will ever rise above its meme coin status.

The verdict: Don't buy Dogecoin

I understand the draw of an investment that has skyrocketed in price in the past and having hopes that it could do the same again. But buying stocks or cryptocurrencies on that feeling is gambling, not investing.

Dogecoin has little real-world application, it can be mined year after year, and its value is dependent on how investors feel about the coin at any given moment. This is all a recipe for disaster when it comes to investing, which is why it's best to stay away from this coin. (Cute dog, though.)

Should you invest $1,000 in Dogecoin right now?

Before you buy stock in Dogecoin, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Dogecoin wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $697,627!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $939,655!*

Now, it’s worth noting Stock Advisor’s total average return is 1,045% — a market-crushing outperformance compared to 178% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.

See the 10 stocks »

*Stock Advisor returns as of June 30, 2025

Chris Neiger has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy.

Dogecoin (CRYPTO: DOGE) is up on Tuesday. Over the last 24 hours, the cryptocurrency was trading up 4.4% at its highest. The spike comes as the S&P 500 (SNPINDEX: ^GSPC) and the Nasdaq Composite (NASDAQINDEX: ^IXIC) closed up 1.1% and 1.4%, respectively.

Dogecoin and most of the crypto market were up today after Jerome Powell spoke to Congress, revealing the Fed is adopting a more crypto-friendly approach. Developments in the Iran-Israel conflict also boosted markets.

Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »

The Fed takes a friendly tone toward crypto

Federal Reserve Chair Jerome Powell confirmed on Tuesday that U.S. banks can serve cryptocurrency firms, so long as they follow specific risk management and consumer protection rules. Powell emphasized that the Fed won't block lawful bank-crypto relationships and has eliminated "reputational risk" from its bank supervision framework, aligning with recent changes by the FDIC and OCC.

These comments signal policy shifts that remove key barriers that had hindered crypto access to traditional banking. Investors across the crypto market were enthusiastic about what this means for the future of digital currencies, including Dogecoin.

Investors bet global conflict will ease

Tensions were high today after a ceasefire in the Israel-Iran war broke down. Still, investors appeared encouraged by Iran's somewhat limited response to U.S. strikes on its nuclear facilities, and markets, including crypto, were up.

Dogecoin is still a meme coin

Despite today's jump, I do not recommend investing in Dogecoin. The fact is that it is a meme coin; its value is derived not from utility, but from "vibes." That makes it incredibly volatile and subject to wild swings in price, and long-term value can be wiped out on a whim.

Should you invest $1,000 in Dogecoin right now?

Before you buy stock in Dogecoin, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Dogecoin wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $676,023!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $883,692!*

Now, it’s worth noting Stock Advisor’s total average return is 793% — a market-crushing outperformance compared to 173% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.

See the 10 stocks »

*Stock Advisor returns as of June 23, 2025

Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

No word on whether it'll speak like Trump.

The world's richest man navigates a treacherous period, marked by an insult-filled public feud with Donald Trump, a figure he significantly helped return to the White House.

Now that Elon Musk is finally leaving the Trump administration, it's time to forget about Dogecoin (CRYPTO: DOGE). While there was hope earlier in the year that the billionaire tech titan might be able to help push up the price of this meme coin, that simply hasn't happened. For the year, Dogecoin is down a whopping 40%.

But all hope is not lost. There are plenty of other options if you are looking for a low-cost, high-upside cryptocurrency. My favorite pick right now is XRP (CRYPTO: XRP), which is up a modest 6% for the year. Here's why you should consider it for your portfolio.

Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »

Utility coin vs. meme coin

Dogecoin has always been -- and always will be -- a meme coin. Moreover, it was created as an internet joke, so it was never meant to be serious. The only way Dogecoin can increase in value is through hype, buzz, and speculation.

Musk's brief tenure in the White House is proof of that. Even though he had no direct role in any of the White House's crypto policies, the mere fact that he created a government-adjacent group called DOGE -- the same as the ticker symbol for Dogecoin -- created quite a bit of hype and speculation that something big might be coming for Dogecoin. But nothing ever did.

In contrast, XRP has real utility. In other words, you can actually use it for something of value. XRP is primarily used as a bridge currency. As such, it can be used to facilitate cross-border transactions, as well as to convert one fiat currency (such as the U.S. dollar) into another fiat currency. All of this runs on the XRP blockchain, and is supported by Ripple Labs, a San Francisco-based tech company that has been around since 2012.

XRP's blockchain technology has already been embraced by large financial institutions as a way to move money around the world in a way that is cheaper and faster than with traditional financial tools. Ripple CEO Brad Garlinghouse has even suggested that the XRP payment network might eventually become even bigger than SWIFT, as it is adopted by more and more global institutions.

Higher upside potential

During the previous crypto bull market rally, Dogecoin soared in value seemingly overnight. It was the first-ever meme coin, and investors piled into it, hoping to become crypto millionaires.

But that was four years ago. In May 2021, Elon Musk appeared on NBC's Saturday Night Live at exactly the moment when many people thought Dogecoin was headed to the moon.

Dogecoin never made it to the moon. In fact, it couldn't even reach escape velocity. Dogecoin reached an all-time high of $0.74, and never recovered. Today, it's trading for $0.20. Never once in its history has it ever broken the $1 mark.

In contrast, XRP has already shown its tremendous upside potential. Yes, it was flatlining around the $0.50 mark for much of 2024, but it then suddenly went parabolic after the U.S. presidential election. At one point, it was up as much as 600% after the election.

Granted, XRP has cooled off considerably since then. It's now trading for just $2, and is down nearly 35% from its 52-week high earlier in the year. But it's still one of the only top cryptocurrencies up for the year.

Analysts and investors remain bullish on XRP's long-term prospects. It could easily double in value, to regain its all-time high of $3.84. Some even think XRP might soar in value to $10 or higher.

Sell Dogecoin, buy XRP

I get the allure of Dogecoin -- it's cheap and it's fun. But investing in Dogecoin just doesn't make sense, especially when it's down 40% for the year. At a time of maximum global macroeconomic uncertainty, the last thing smart investors want to be holding is a dog-themed meme coin with a funny name.

A better option would be XRP, which is still relatively cheap -- just $2, less than a cup of coffee these days! And, at times, XRP trades much like a meme coin. Just a hint or whisper of something big coming for XRP is often enough to send it higher. But at least XRP has some utility to it, and has much higher upside than Dogecoin over the long haul. If you are choosing between XRP and Dogecoin, this one's a no-brainer.

Should you invest $1,000 in XRP right now?

Before you buy stock in XRP, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and XRP wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $868,615!*

Now, it’s worth noting Stock Advisor’s total average return is 792% — a market-crushing outperformance compared to 173% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.

See the 10 stocks »

*Stock Advisor returns as of June 2, 2025

Dominic Basulto has positions in XRP. The Motley Fool has positions in and recommends XRP. The Motley Fool has a disclosure policy.

The US Department of Health and Human Services (HHS) teamed up with DOGE to fire 10,000 employees while relying on "hopelessly error-ridden" personnel records, a class-action complaint filed yesterday alleged. The lawsuit said the HHS terminated thousands of workers on April 1, shortly after sharing the flawed personnel records with the US Department of Government Efficiency (DOGE), Office of Personnel Management (OPM), and Office of Management and Budget (OMB).

"These agencies knew that the records were hopelessly error-ridden, and that the records should have been used, if at all, with great caution," said the lawsuit filed in US District Court for the District of Columbia. "Instead of taking steps to verify the contents of the records and correct the systemic inaccuracies, the agencies promptly used them to fire 10,000 employees."

The case was filed by a law firm founded by former Justice Department attorneys on behalf of seven named plaintiffs and all others who were laid off as part of the April 1 Reduction in Force (RIF). It alleges that the government violated the Privacy Act, which requires agencies to verify the accuracy of information used as the basis for adverse actions against employees.

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A generally worried investor base and promising developments with a rival cryptocurrency segment put the kibosh on Dogecoin's (CRYPTO: DOGE) value on Thursday. The foundational meme coin stumbled late that afternoon, declining nearly 14% in value as of 4 p.m. ET. By contrast, the equity market wasn't suffering nearly as much, with the S&P 500 index closing the day 0.5% lower.

Trade war blues

The trade war between the U.S. and its major trading partners ground on Thursday, with no end immediately in sight. The conflict hasn't been beneficial to speculative assets like cryptocurrencies generally. Dogecoin -- not nearly as useful a coin or blockchain as a growing number of altcoins -- is highly speculative even among other cryptos.

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Thursday afternoon it was reported that imports of foreign-manufactured goods plummeted month-to-month in April, showing that the dispute is having a tangible effect on the structure of the domestic and global economies. Investors tend to like steady and predictable developments in both, not dramatic swings.

Compounding problems for Dogecoin and other meme coins, the crypto world seems to be more focused on (and enthusiastic about) stablecoins. On Thursday, it was reported that Arizona Senator Ruben Gallego said as many as 16 members of his Democrat party in the chamber could vote to approve the stablecoin bill currently being deliberated by that body.

If passed, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) would set a pack of rules and regulations governing such cryptocurrencies.

Dodging Dogecoin

Although I think Dogecoin has a decent shot at a brief rebound given that it's an enduringly popular meme coin, for me it's too unpredictably volatile as an investment to put money into. I don't think the trade war's going to end soon, either, and it feels like the crypto spotlight will continue to shine on stablecoins for a bit. I'd leave Dogecoin alone for now.

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With the federal hiring freeze lifting in mid-July, the Trump administration has rolled out a controversial federal hiring plan that critics warn will politicize and likely slow down the process rather than increase government efficiency.

De-emphasizing degree requirements and banning DEI initiatives—as well as any census tracking of gender, race, ethnicity, or religion to assess the composition of government—the plan requires every new hire to submit essays explaining which executive orders or policy initiatives they will help advance.

These essays must be limited to 200 words and cannot be generated by a chatbot, the guidance noted. While some applicants may point to policies enacted by prior presidents under their guidance, the president appears to be seeking to ensure that only Trump supporters are hired and that anyone who becomes disillusioned with Trump is weeded out over time. In addition to asking for a show of loyalty during the interview process, all federal workers will also be continuously vetted and must agree to submit to "checks for post-appointment conduct that may impact their continued trustworthiness," the guidance noted, referencing required patriotism repeatedly.

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The loose regulatory nature of the cryptocurrency market has led to an influx of meme coins, cryptocurrencies that lack meaningful real-world utility but can attract investors due to their appeal as a joke, because they are affiliated with someone or something popular, or for some other superficial reason.

Dogecoin (CRYPTO: DOGE) is the original meme coin. It was created as a joke, but Dogecoin's price has risen by more than 50,000% since 2014. Those returns are no joke.

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It's been a volatile journey, though. Dogecoin is currently on a slide, having dropped to less than $0.20 after soaring to more than $0.46 in late 2024. With Bitcoin setting new highs recently, should investors buy Dogecoin at less than $0.25 and ride the train?

Here is what you need to know.

Dogecoin has surpassed $0.25 several times before

Dogecoin was around for a while before its popularity exploded in 2021. The meme coin has a large and supportive community and is a fully functioning cryptocurrency -- meaning people can use it as a digital currency at the few places where it's accepted.

During the past five years, Dogecoin's price has surged to $0.25 or higher a number of times. However, it has struggled to stay there. Previous rallies have occurred during periods of high cryptocurrency optimism, such as 2020-2021, and immediately after the 2024 election, when investors cheered an incoming president who had campaigned on a pro-cryptocurrency message.

Remember, investor sentiment is crucial to Dogecoin's price because cryptocurrencies lack underlying earnings or tangible assets to support their value. Their prices depend on the market's willingness to pay more for tokens.

Three factors working against Dogecoin's long-term price potential

That willingness, or the demand for the cryptocurrency, stems from three key factors: utility, tokenomics, and competition.

Dogecoin has problems in all three areas, which could continue to work against it over time.

First, Dogecoin lacks significant utility. Its popularity has resulted in some adoption: For example, some investment firms hope to launch Dogecoin exchange-traded funds (ETFs), which is a step in the right direction, and some merchants will accept it as payment. Still, Dogecoin is used for trades, tips, and donations primarily within its community. Meme coins generally aren't intended for much else.

Second is Dogecoin's tokenomics. Many view Bitcoin as an anti-inflationary digital asset due to its increasing adoption and capped supply. But Dogecoin has an unlimited maximum supply, and miners earn about 10,000 tokens per minute. This ever-increasing supply has much the same effect on Dogecoin's price that share dilution has on a company's stock.

Third, there is competition from newer meme coins. Many investors invest small sums in meme coins for fun. They typically aren't a serious component of a portfolio. Dogecoin's name recognition helps it, but investors may opt for different meme coins when newer, hotter tokens go viral. Less investor interest means lower prices.

Should you buy Dogecoin at less than $0.25?

The main points of Dogecoin and other meme coins are to have fun and build community around your favorite tokens. So it's perfectly fine to buy Dogecoin today, as long you're not spending a meaningful amount of money or seriously expecting a profit.

Of course, Dogecoin could spike and go to $0.25 and beyond, just as it has before. And if you buy Dogecoin and it happens to make you money, then that's great! Just don't count on it.

Dogecoin, like other meme coins, should not be considered a bigger deal than it is. It's all about going in with the proper expectations.

Should you invest $1,000 in Dogecoin right now?

Before you buy stock in Dogecoin, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Dogecoin wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $651,049!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $828,224!*

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Justin Pope has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.

Dogecoin (CRYPTO: DOGE) was founded as a joke by two friends in 2013 who used the famous "Doge" meme as inspiration. Little did they know, it would go on to reach a peak of $0.73 per token in 2021, which translated to an eye-popping market capitalization of almost $90 billion.

A lot of that value was created on the back of Elon Musk's support, which has been ongoing since 2019. In fact, Dogecoin's most recent rally was sparked by Musk's involvement in the Trump administration, where he temporarily ran an external government agency with a name that references the meme token.

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But Musk's time at the White House has officially come to an end, so investors might be wondering what to do next. Is Dogecoin still a buy, or is this a sure sign to run for the hills?

A timeline of Musk's Dogecoin support

Between 2019 and 2021, Musk regularly shared Dogecoin-related memes on social media and participated in friendly banter with other enthusiasts. Investors started to think he had a plan to create real value for the meme token, and that speculation reached a fever pitch in the lead-up to his appearance on Saturday Night Live.

During the show on May 8, 2021, Musk participated in a Dogecoin-themed comedy skit, which ended with him calling the meme token a "hustle." While it was a light-hearted joke, investors started to realize that Musk had no concrete plans to create value outside of his support on social media, so Dogecoin peaked at $0.73 per token that very night.

It plunged over the next 12 months, losing more than 90% of its value by mid-2022. It stayed dormant during 2023 and for most of 2024, until the U.S. presidential election. Musk threw his cash and his influence behind Donald Trump, who campaigned on a series of pro-crypto policies, and Dogecoin soared (along with most cryptocurrencies) when Trump eventually won the presidency.

A short time later, Trump announced plans to appoint Musk to run an external government agency tasked with reducing America's national debt by slashing spending. Musk named the agency the Department of Government Efficiency, or DOGE for short, which was a clear reference to his favorite cryptocurrency. However, to this day, Dogecoin has played no actual role in the agency, so its post-election rally was purely speculative.

Musk's time at the White House has now come to an end. He was classified as a "special government employee," which means he can only work within the administration for 130 days per year -- and Jan. 20 (Trump's Inauguration Day) to May 30 was exactly 130 days.

Dogecoin has serious fundamental issues

Dogecoin has plummeted by 59% from its recent 52-week high, but Elon Musk's departure from the DOGE agency isn't the biggest reason. The meme token has struggled to find a use case in the real world, and if consumers, businesses, and investors don't have a tangible reason to own it, then it's impossible to create sustainable value.

According to Cryptwerk, just 2,096 businesses around the world accept Dogecoin as payment for goods and services. If consumers can't spend Dogecoin at their favorite stores, then they have no reason to buy it. Businesses probably won't warm up to the meme token anytime soon, because its extreme volatility would make cash-flow management a nightmare.

Dogecoin also has a supply issue. There are 149.5 billion tokens in circulation as of this writing, and although there is a cap on how many more can be "mined" each year, there is no end date. In other words, new tokens will enter the market until the end of time. I've never seen an investment-grade asset with an unlimited supply that rises in value over the long term.

It might be time to run for the hills

Dogecoin's post-election rally peaked at $0.47, which was well below its 2021 high of $0.73. That suggests investors were less willing to buy into the Musk-driven hype this time around. But the meme token is now trading at just $0.19, and there could still be plenty of room to fall if history is any guide.

Dogecoin bottomed at around $0.06 in 2022, which might be the level to watch. It implies there could be 68% downside from the current price, and with Musk now out of the White House and no improvements to the meme token's fundamentals, that might be the path of least resistance.

As a result, I think it might be time to abandon Dogecoin and run for the hills.

Should you invest $1,000 in Dogecoin right now?

Before you buy stock in Dogecoin, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Dogecoin wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $651,049!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $828,224!*

Now, it’s worth noting Stock Advisor’s total average return is 979% — a market-crushing outperformance compared to 171% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.

See the 10 stocks »

*Stock Advisor returns as of June 2, 2025

Anthony Di Pizio has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

A federal judge has given Department of Government Efficiency (DOGE) employees access to US Treasury payment systems as long as they meet training and vetting requirements but denied the Trump administration's motion to completely dissolve a preliminary injunction.

US District Judge Jeannette Vargas of the Southern District of New York is overseeing a case filed against President Trump by 19 states led by New York. In February, Vargas issued a preliminary injunction prohibiting the Treasury Department from granting DOGE access to systems containing personally identifiable information or confidential financial information.

In April, Vargas allowed DOGE employee Ryan Wunderly to access the Treasury Department's Bureau of Fiscal Services (BFS) system, after government declarations said "that Wunderly has undergone the same vetting and security clearance process that applies to any other Treasury Department employee provided with access to BFS payment systems." In an order yesterday, Vargas ruled that four more employees can access the system.

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• Elon Musk has sat down for at least five interviews in recent days.
• He's criticized Trump's spending bill and said he's spent too much time on politics.
• Here's what to know about each interview Musk has given.

Elon Musk is talking to the media again.

After months of largely avoiding sit-down interviews as he devoted time to DOGE, the tech titan suddenly seems to be all over the place.

Across five recent and forthcoming interviews, Musk has reflected on the work of DOGE, offered some criticism of President Donald Trump's legislative agenda, and indicated he's trying to spend less time on politics and more time on his companies.

Here's what you should know about what he said in each interview.

Bloomberg: Musk says he's spending less on politics

Perhaps the biggest revelation from Musk's sit-down with Bloomberg at the Qatar Economic Forum last week is that he's no longer going to be spending big on politics, like he did in the 2024 election.

"I think I've done enough," Musk said. "If I see a reason to do political spending in the future, I will do it. I do not currently see a reason."

If the tech titan holds true to those comments, Republicans will be losing out on what could have been tens of millions of dollars in political spending. Last year, Musk spent nearly $300 million, mostly on Trump.

He also said that it's up to Trump and Congress to make the project of DOGE a success.

"The DOGE team has done incredible work, but the magnitude of the savings is proportionate to the support we get from Congress and from the executive branch of the government in general," Musk said.

CNBC: New Tesla announcements

Musk's CNBC interview, which also took place last Tuesday, was mostly about Tesla.

He said that within just a matter of months, there could be 1,000 of the company's robotaxis on the streets of Austin, Texas.

"We'll start with probably 10 for a week, then increase it to 20, 30, 40," Musk said. "It will probably be at 1,000 within a few months." He's previously said the ramp-up will be quick.

He also mentioned that he still planned to be in Washington on a weekly basis, even as he spends more time on his companies.

"My rough plan on the White House is to be there for a couple days every few weeks, and to be helpful where I can be helpful," Musk said.

Ars Technica: Musk says he's spent too much time on politics

Musk spoke with Ars Technica, a tech-focused publication, in an Q&A published on Tuesday.

Though he mostly talked about SpaceX, he also said he's been too involved in politics since wading into the 2024 presidential race last year.

"I think I probably did spend a bit too much time on politics," Musk told the outlet. "It's not like I left the companies. It was just relative time allocation that probably was a little too high on the government side, and I've reduced that significantly in recent weeks."

The Washington Post: Musk laments that DOGE has become a 'whipping boy'

In an interview with the Washington Post, also published on Tuesday, Musk said that the "federal bureaucracy situation is much worse than I realized" and that it's an "uphill battle trying to improve things" in Washington, DC.

He also lamented the political backlash that DOGE has generated, especially from Democrats.

"DOGE is just becoming the whipping boy for everything," he said. "So, like, something bad would happen anywhere, and we would get blamed for it even if we had nothing to do with it."

That backlash has extended to his companies, particularly Tesla.

"People were burning Teslas," Musk said. "Why would you do that? That's really uncool."

CBS: Not a fan of the 'big beautiful bill'

In an interview with CBS — a network that's currently in the midst of a legal battle with Trump — Musk criticized the "One Big Beautiful Bill," which is the centerpiece of the president's legislative agenda because it adds trillions to the deficit.

"I was like, disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decrease it, and undermines the work that the DOGE team is doing," Musk said. "I think a vote can be big, or it could be beautiful. I don't know if it could be both."

And that's just what we know from a clip that was released on Tuesday. The rest of the interview is set to air on Sunday, June 1.

• Defense Department civilians were asked to submit ideas to save money.
• The request marked the end of DOGE's five-bullet exercise every week.
• Employees were instructed to exclude classified info from their submissions.

Defense Department employees received an all-staff email asking them to submit ideas on how to "root out waste."

The request marked the end of the controversial five-bullet exercise, in which federal employees were asked by the Department of Government Efficiency to send five bullet points of their accomplishments every week.

The final email, seen by Business Insider, was sent last week by Jules Hurst III, the acting undersecretary of defense for personnel and readiness.

Hurst thanked Pentagon staff for "submitting weekly achievements over the past couple of months," adding that the weekly emails had served as reminders for "the depth and breadth of the Department's mission."

The email said that to conclude DOGE's five-bullet exercise, which was introduced in February, "we need one last input from you."

It asked civilian staff to "please submit one idea that will improve the Department's efficiency or root out waste" by May 28.

"It can be big or small. It can be focused on a particular program or on larger Department operations," wrote Hurst. "I invite you to be creative."

Employees were instructed to "exclude classified or sensitive information" from their submissions.

The email stressed that employees "without email access due to leave, shift work, temporary duty, or other valid reasons must comply with 12 hours of regaining access" and asked the supervisors of warehouse and shipyard employees without regular office or email access to liaise "directly with their employees."

Secretary of Defense Pete Hegseth has said that he hopes that DOGE, overseen by Tesla CEO Elon Musk, can bring "actual businesslike efficiency to government."

Mara Karlin, who previously served as the assistant secretary of defense for strategy, plans, and capabilities, wrote in a commentary for Foreign Affairs last month that running the Pentagon like a business could backfire.

She said the DoD has to consider risk "far more soberly and carefully than in the corporate world," because the risk factor in defense is "uniquely high."

The Trump administration has prioritized efforts to increase efficiency at the Defense Department, but it also abruptly fired the department's top inspector general, who was charged with finding waste, fraud and abuse.

The administration plans to shift as much as $50 billion from existing programs to new priorities.

Hegseth announced in April that the DoD would be scrapping billions of dollars worth of IT and consulting contracts, affecting companies such as Accenture and Deloitte.

Last week, Business Insider reported that the Pentagon's IT agency was facing a 10% cut to its civilian workforce.

Karlin said, "The Pentagon needs change, but effective reform will require appreciating the uniqueness of the organization. So far, the signs are not encouraging."

An outdated Meta AI model was apparently at the center of the Department of Government Efficiency's initial ploy to purge parts of the federal government.

Wired reviewed materials showing that affiliates of Elon Musk's DOGE working in the Office of Personnel Management "tested and used Meta’s Llama 2 model to review and classify responses from federal workers to the infamous 'Fork in the Road' email that was sent across the government in late January."

The "Fork in the Road" memo seemed to copy a memo that Musk sent to Twitter employees, giving federal workers the choice to be "loyal"—and accept the government's return-to-office policy—or else resign. At the time, it was rumored that DOGE was feeding government employee data into AI, and Wired confirmed that records indicate Llama 2 was used to sort through responses and see how many employees had resigned.

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