Is It Profitable to Invest in Dogecoin?
Dogecoin is funny phnomenon in history of cryptocurrency. The coin is created as a joke and tipping but later, the coin grow bigger than people think. Dogecoin is an unlimited coin. From the data from 2014 to 2017 ,the price of dogecoin looks stable. It ranges from 0,0002 to 0,0005 USD. The peak price was in 2018, Dogecoin hit 0,018773 USD. Now the price is about 0,002 to 0,004 USD. Comparing to the early launching of dogecoin, the ROI is about 481 %.
pic : https://dex.openledger.io/a-history-of-dogecoin/
History of dogecoin
Dogecoin was officially launched on December 6, 2013. It was created by programmer Billy Markus from Portland, Oregon.
Markus said " We wanted to set a tone that Dogecoin wasn’t really about hoarding and shilling and trying to get rich like we see in many other altcoin communities but that it was really just about having fun and tipping and learning about cryptocurrency"
The logo of dogecoin was taken from name of dog in Japan Shiba Inu.
Dogecoin now become top 50 coin in the coinmarketcap. The 24-hour trading volume is about $84.747.530 USD. The marketcap is market cap of $410.569.430 USD with circulating supply of 126.062.547.481 DOG.
DOGECOIN PRICE ANALYSIS
Dogecoin price now is about 0,002 to 0,004. Since the price of altcoins follow the bitcoin price, dogecoin price is also dragged by the up and down of btc price. The movement of dogecoin price is quiet stable from 2018-2020. Dogecoin is unlimited coin but the community of dogecoin is worldwide. There are many merchants accept dogecoin payment. Dogecoin is also listed on hundreds of exchangers. Dogecoin price will hit highest price if bitcoin price peaks to 20.000. Bitcoin price now is about 11,000 USD. How dogecoin in the end of 2020? Dogecoin price will be stable as today until the end of 2020. There are no more information about project and updates about dogecoin from doge developers. It means dogecoin will move as it is today.
Is it profitable to invest dogecoin?
To make high profit? I think no but you can secure your digital asset in dogecoin. The price will be stable. You may earn small profit when you want to sell at higher price. For keeping dogecoin in your wallet, I think that is good allocation of splitting digital asset in stable coins. Doge coin has become stable coin nowdays.
Don't put your eggs in one basket!
That philosophy in investment is easy to understand but when you never practice this strategy of old investors, you may lose some of your asset. Dogecoin is a choice of different basket to keep your eggs.
What do you think of dogecoin?