1 Alternative to Dogecoin to Buy and Hold for Decades
Key Points
Dogecoin is now down 74% from its all-time high in 2021.
A potential alternative to Dogecoin is Solana, a blockchain network that is growing quickly due to the popularity of meme coins.
In the most recent 12-month period, the Solana blockchain ecosystem posted nearly $3 billion in revenue.
- 10 stocks we like better than Solana ›
It's time to forget about Dogecoin (CRYPTO: DOGE). The world's most popular meme coin is down 40% for the year and shows no signs of turning things around anytime soon. Dogecoin is down a stunning 74% from its all-time high from 2021.
The good news is that there is an alternative to Dogecoin that is actually a good long-term investment. This crypto is a clear beneficiary of internet meme culture, but you can buy and hold it for decades. This cryptocurrency is more than three times as large as Dogecoin in terms of market cap, and is up a whopping 23,000% since launching in 2020.
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Yes, I'm talking about Solana (CRYPTO: SOL).
The blockchain for meme coins
At first glance, Solana might not seem to be a real alternative to Dogecoin. It's a smart contract blockchain network, similar to Ethereum (CRYPTO: ETH).
Images source: Getty Images.
But here's the thing: Solana is the one blockchain that has become synonymous with meme coin mania. It's the place to go to mint new meme coins or swap old meme coins. When President Donald Trump wanted to mint a new meme coin earlier this year, he used Solana.
Thanks to all of this new meme coin activity, the blockchain metrics for Solana are now off the charts. According to a new report from 21Shares, the Solana blockchain ecosystem posted nearly $3 billion in revenue over the most recent 12-month period.
Solana vs. Dogecoin
Admittedly, it's much more budget-friendly to buy Dogecoin. A single coin now trades for just 20 cents. By way of comparison, a single SOL will set you back $200.
But don't let that high price scare you off. New spot Solana ETFs are coming soon, and they could become a more budget-friendly way to invest in Solana without breaking the bank.
If you're looking to capture the upside from meme coins but want a long-term investment option, Solana is worth a closer look.
Should you invest $1,000 in Solana right now?
Before you buy stock in Solana, consider this:
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*Stock Advisor returns as of October 27, 2025
Dominic Basulto has positions in Ethereum and Solana. The Motley Fool has positions in and recommends Ethereum and Solana. The Motley Fool has a disclosure policy.
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