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Investing $500 in Dogecoin (DOGE) five years ago would have yielded a 7,000% return, but new investors are questioning whether to invest now. The cryptocurrency market's macroeconomic landscape is encouraging, with a softer US stance and dollar index down 8.7% year-to-date. However, asset-specific factors will play a significant role in Dogecoin's performance. Its low starting point and volatility have driven long-term outperformance, but hype and speculation can lead to significant losses if bought at the wrong time.

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