Should You Forget Dogecoin and Buy a More Serious Cryptocurrency Instead?

It's getting harder and harder to believe that Dogecoin (CRYPTO: DOGE) will ever turn things around. The world's most popular meme coin appears to be permanently stuck in the crypto market's doghouse. It's now down a stunning 87% from its all-time high of $0.74.

Yep, that's right. In more than a decade of trading, Dogecoin has never once broken through the $1 price level. That, despite the fact that billionaire Elon Musk has been among the meme coin's biggest supporters. So don't you think it's time to move on from Dogecoin and find a more serious cryptocurrency instead?

The problem with Dogecoin

The biggest problem with Dogecoin right now is that the market for meme coins has been completely oversaturated. When Dogecoin launched back in 2013, the concept of a meme coin was novel and, quite frankly, refreshing. Meme coins made investing fun, and they provided great entertainment value. Some people even got rich investing in them.

Image source: Getty Images.

But in 2026, there are literally millions of different meme coins. And that means Dogecoin now has plenty of dog-themed meme coin competitors, including Shiba Inu, Bonk, and Floki.

In addition, the coin supply of Dogecoin (153.5 billion) is astronomically high. No wonder the price of Dogecoin never seems to go anywhere but down. Too much supply, not enough demand.

Time to consider Solana

A more serious cryptocurrency to consider instead is Solana (CRYPTO: SOL), which has emerged as the biggest rival to Ethereum (CRYPTO: ETH). This Layer-1 blockchain network now has a market cap of $48 billion, making it the seventh-largest cryptocurrency in the world.

What's particularly enticing about Solana, if you're a current Dogecoin investor, is that it has become the go-to blockchain for new meme coin launches. Case in point: When President Donald Trump decided to launch a meme coin last year, he did so on Solana.

No surprise, but Solana has also become the leading blockchain for the trading of meme coins. In 2025, Solana began to outpace Ethereum in terms of 24-hour trading volume on decentralized exchanges. That was due, in large part, to the phenomenal amount of meme coin trading that now takes place on Solana.

Moreover, Solana is the only major Layer-1 blockchain network with its own mobile phone. That's right -- you can pick up a mobile phone that has been completely optimized for Solana blockchain transactions. That has made Solana a hit with the young investor crowd that prefers to take its cryptocurrency everywhere.

Best way to get exposure to Solana

Solana is proof that crypto can be both serious and fun. However, Solana is considerably more expensive than Dogecoin right now. If you're used to paying just $0.10 for a single Dogecoin, you might get sticker shock from the price of Solana, which currently trades around $80 in the spot crypto market.

But there are more affordable ways to get exposure to Solana. You could, for example, buy one share of the new Bitwise Solana Staking ETF (NYSEMKT: BSOL) for just $11. That gives you exposure to the spot Solana price, and also gives you access to Solana staking rewards.

In the long run, your portfolio will thank you for forgetting about Dogecoin. Solana is now up 9,853% since its launch in 2020. There's no guarantee that it will turn in the same type of performance over the next five years, but it is almost certain to outperform Dogecoin.

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.