The excitement is fading Created as a fun alternative to the world's most valuable cryptocurrency, Bitcoin, Dogecoin remained largely under the radar until the meme-stock craze took over markets last spring. Add the publicly displayed interest from prominent businessmen like Elon Musk and Mark Cuban, and Dogecoin had an astronomical run-up in the month of April last year. Furthermore, headwinds that are buffeting the stock market, like inflation, interest rate hikes, and geopolitical turmoil, are pushing investors away from risky assets -- a category Dogecoin definitely belongs in.