When investing, good things come to those who are patient. Over the past four decades, the benchmark S&P 500 has navigated its way through Black Monday in 1987, the dot-com bubble, the Great Recession, and more recently the coronavirus crash. Despite these drawn out and in some cases abrupt swoons, the average annual total return of the S&P 500, including dividends paid, is 11% over four decades.

However, this long-term buy-and-hold thesis has been put to the test in recent years by the rise of cryptocurrencies. In particular, there's an immense amount of buzz surrounding meme-based digital currency Dogecoin(CRYPTO:DOGE), which has risen by more than 100,000% since December 2013.

The so-called "people's currency" is lauded for its nominally low price point of $0.32 per token, as well as the perception that current investors are getting in near the ground floor, well before broad-based adoption. Enthusiasts also point to Tesla CEO Elon Musk's unwavering support of Dogecoin as a positive. While these catalysts might sound great on paper, they're often lacking in a big way if you dig below the surface-scratching social media hype.

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