Warren Buffett has made his stance on cryptocurrencies crystal clear—he wants nothing to do with them. Back in 2014, he stated, “It is not a durable means of exchange. It’s not a store of value.” Nearly a decade later, his position hasn’t changed, and Dogecoin, the $38 billion meme coin with no earnings or utility, is the type of asset he would avoid at all costs
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Dogecoin’s lack of an economic moat is another major red flag. Buffett prioritizes companies with sustainable competitive advantages, but Dogecoin has none. Its dominance can easily be challenged, as seen with Shiba Inu, another dog-themed token that quickly gained market share.
What Dogecoin Has Going for It
Despite Buffett’s skepticism, Dogecoin does have two features he might admire: brand value and market staying power. According to The Motley Fool, Dogecoin remains the top meme coin, benefiting from strong name recognition without spending a dime on marketing.
While Buffett won’t touch it, Dogecoin’s strong backing from Elon Musk and its ability to capture investor attention repeatedly may explain why it refuses to fade away—even when the hype dies down.
At the time of writing, Dogecoin is sitting at $0.2521.
