Dogecoin was initially created in 2013 as a joke and has since exploded in popularity and price after influential billionaires such as Elon Musk and Mark Cuban have been supporting it. In addition, Dogecoin is rising due to excitement on Reddit and Twitter (TWTR). While many young cryptocurrency investors have made fortunes in Dogecoin, they are likely to get burnt at some point. That’s because not only is there hardly any real-world use of Dogecoin but there is an unlimited supply.
Therefore, investors should instead put their money into shares of fundamentally solid growing companies whose prices are appreciated by actual underlying growth catalysts. That’s why I am highlighting stocks such as Bristol-Myers Squibb Company (NYSE:BMY), AutoNation, Inc. (AN), and Archer-Daniels-Midland Company (NYSE:ADM) below.