Dogecoin, despite being one of the most valuable cryptocurrencies, is currently down 70% from its peak in 2021. In contrast, Bitcoin, Ethereum, and XRP have reached all-time highs recently. Experts note that Dogecoin lacks concrete use cases compared to Bitcoin and Ethereum, which serve as store-of-value assets and platforms for significant applications respectively. Analysts emphasize that institutional investors are favoring digital assets with real utility, which has left meme coins like Dogecoin on the sidelines. The total crypto market is riding a wave of positive news, yet Dogecoin has not shared in this momentum, primarily being viewed as a speculative asset. While there is anticipation regarding potential ETFs for Dogecoin that could attract more investment, it remains fundamentally seen as a 'meme' without substantial adoption. Future proposals for network upgrades may introduce more functionality, but the existing perception of Dogecoin may prevent it from experiencing a significant resurgence without a clear return on investment for users.

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