Like any cryptocurrency, buying Dogecoin doesn’t guarantee huge profits for investors and no individual trade will be the one you can retire on. The path to trading profitably is a long road.
DOGE dates back to 2014, making it even older than Ethereum, which launched in 2015. But unlike most cryptocurrencies, its team never had high hopes of it becoming next big currency.
Since it’s based on bitcoin, in theory, DOGE would be classed as an alternative currency. Plus, Elon Musk recently started accepting Dogecoin as a payment method for Tesla merch.
When Dogecoin launched, its price was $0.0002, which didn’t change significantly until 2021. In February 2021, coin enjoyed what at the time seemed like a big jump up to $0.079.
If you’re committed to this high-risk but admittedly irresistible coin, here are a few aspects to take into consideration.
Dogecoin gives many people a sense of camaraderie; you could even say that it has cultural capital because of how it’s impacted society and brought people together.
The markets are always doing crazy things, and once you embrace that fact, you can profit from it.