Anything is a better long term investment that dogecoin. Considering there is infinate inflation on the currency because it is mined, and has no coin cap. Meaning if you invest 1000 usd into doge coin for x doge coins today, in 5 years it will be worth fractions of a penny. Unless the demand for the currency exceeds the supply (in which case open market will just mine/supply more currency) I wish they pushed anything but a non-coin cap'd crypto
Never underestimate the power of a meme. Not that I'd recommend investing lots of money into Doge, but even though the supply is technically unlimited, the inflation rate does decrease over time simply because it's now a static block reward. Unless the core algorithm is changed, the block reward is a static 10,000 from now until forever. With 129.5 billion Doge in existence, and a rate of generation of 5.25 billion Doge per year, that's an increase in supply of 4% this year. Ten years from now, it would be a 2.8% increase. It will take 25 years from now (yeah, Doge in 25 years feels sooo long!) to double the current number of Doge. And it would take another 98.5 years to double again.
Is an unlimited supply of a coin a bad idea? People will argue both sides. Chia is also going for a technically unlimited supply, but at far slower rates than Doge. I do wonder how Bitcoin and other cryptocurrencies that have a finite supply will actually fare once the only real block reward comes from transaction fees. Maybe it will be fine, everyone swapping around coins and such. Personally, I think the biggest problem with Bitcoin is still that 10 minute average block time, but it remains the first and biggest cryptocoin.