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No, don't hold it.
Here's why I think you shouldn't hold Dogecoin expecting gains:
- It's inflationary. The supply keeps increasing therefore the price is constantly on downward pressure.
- Despite being inflationary there's barely any development (let alone meaningful one) of the blockchain that would help increasing its demand in the future.
- It is literally a joke born from internet meme.
The recent price spike is from the "Dogethereum" project which don't add any value to either Dogecoin or Ethereum even according to Dogecoin founder (which has forfeited from the development of Dogecoin since late 2014). https://twitter.com/ummjackson/status/1037591368523083776
While I am against holding it, I recommend using it especially for crypto exchange purposes. Dogecoin has its unique advantages compared to other cryptocurrencies:
- It is listed on many large and small crypto exchanges alike. Practically almost all crypto exchanges have Dogecoin listed.
- Consistently super cheap transaction fee. This makes withdrawal to wallet or transferring between exchanges isn't burdened by transaction/withdrawal fees
- Even with its reputation as "shitcoin" born from internet meme. Dogecoin have an extremely low chance to be delisted from crypto exchanges. Why? Because Dogecoin always have decent exchange volume due to people using it as bridge as specified on the previous point.
- The low transaction fee also comes with fast confirmation time. This allow better opportunity for arbitrage between exchanges.
