I feel that to decide whether Dogecoin is worth holding or not we need to figure out its advantages and disadvantages.
Advantages:
- Very low transaction fees.
- Fast confirmation times
- Strongly loyal community
- Low prices for now
Disadvantages:
- The development has almost stopped since 2015 (although we are seeing some activity on GitHub again)
- It's inflationary due to its unlimited supply
- Mining is barley profitable
- It can't seem to shake the the stigma of its origin being a meme joke
Dogecoin is technically a fork of Litecoin and was Launched in 2013 but unlike Litecoin, it has an uncapped supply which makes it a bad choice in terms of inflation. On the other hand we need to remember that it has been around for longer than Ethereum and has build solid community support. Dogecoin has established itself as a sound payment method and its community has been heavily involved in charity.
Some people claim that since the coin started as an internet meme joke, therefore it hold little merit. I find this particular argument superficial and without depth since the technology behind the coin is solid and works seamlessly.
I feel that Dogecoin is here to stay. As of today, Dogecoin actually broke into the top 20 market cap coins and seems to strangely unaffected by the current bear market. I feel that Dogecoin is a solid investment.