Why Dogecoin Is A Good Investment

Looking to invest in Dogecoin? You tin buy DOGE with zero fees on Robinhood!

Yous might be asking yourself, “how much Dogecoin should I purchase?” Well, Dogecoin is almost certainly not a good investment in whatever traditional sense of skilful investing, but that might merely exist the reason to buy it.

Dogecoin was created by software engineer Billy Markus in but iii hours. After copying and pasting Bitcoin’s core code, Markus spent “the bulk of that fourth dimension making alterations to the client to brand the text Comic Sans”. Now that’s impressive.

Markus will be the outset to acknowledge that Dogecoin was created as a joke. He even sold his entire position in 2015 which would have been worth millions today. On May 4, 2021, Dogecoin has surpassed a $75 billion market cap. Since then, however, Dogecoin has fallen significantly like many other cryptocurrencies in the crypto market. While it’s now worth much less than its all-time high, the domestic dog-themed cryptocurrency still has a multi-billion dollar market place cap and is one of the biggest cryptos in the earth.

Is it besides late to board the Dogecoin rocketship, or will Elon Musk have a few extra Falcon 9s to spare for the journey? If you agree with the latter, you tin can invest in DOGE on Robinhood today!

  • Dogecoin Cost
  • Should You Invest in Dogecoin?
  • How to Buy Dogecoin
  • The Future of Dogecoin
  • Frequently Asked Questions

Dogecoin Price

Anyone who’southward ever copy-pasted anything online can tell yous that this crypto is likely not worth $10 billion.

Only like Bitcoin, precious metals and substantially every financial asset, the cost of Dogecoin is only worth what someone else is willing to pay for it. And for some reason, people are willing to pay a lot for the Shiba Inu themed meme coin.

To notice out why one should plough to Richard Dawkins’ 1976 book,
The Selfish Gene, where the word “meme” was coined. “The new soup is the soup of human culture. We demand a name for the new replicator, a noun which conveys the idea of a unit of measurement of cultural transmission, or a unit of
imitation.” He brilliantly saw that ideas (memes) have lots of parallel to the life itself. Ideas evolve and spread past a kind of choice similar to natural pick that depends on their success in replicating apace.

Dogecoin’s price is not based on its underlying technology. It’due south based on its cultural value.

In the Robinhood-GME-Twitter-pandemic era, Dogecoin has somehow managed to unite people all over the globe in common pursuits of money, laughter and connectedness.

For a minor price, yous tin can purchase your very own Dogecoin and be a function of a global motion. Retrieve, market capitalization is the true indicator of a cryptocurrency’due south value, not the per token price. Since there are over 133 billion Dogecoins in circulation, the per coin price remains low.

Dogecoin to the Moon?

Dogecoin has pumped 2000% three dissever times since 2017. That’s kind of its thing.

The billion dollar question left to be answered: where does information technology stop? Frankly, nobody really knows. During the 2017 balderdash run, you would have been sent to the psychiatrist for suggesting $1 dogecoin, but today it’due south all twitter can talk about.

Permit’s put things in perspective for a moment. $1 Dogecoin would yield a market cap eclipsing that of Charles Schwab, Blackrock, American Express, IBM and Goldman Sachs. This seems unlikely, only it’due south already alee of Eastward-trade, Hasbro and Levi Strauss – and then who really knows anything anymore.

Should You lot Invest in Dogecoin?

In 2021, an army of social media-fueled Robinhood investors took downwards Melvin Majuscule during the GameStop short clasp, and decentralized cryptocurrencies have caused panic within central banks across the world. It appears that ability is leaking from the meridian, draining downwardly the ladder through fiber optic cables and WiFi routers.

If you’re a zoomer or a millennial with a Robinhood account, odds are you lot already own a chunk of DOGE larger than any fiscal counselor on the face up of the earth would recommend, and yous’ve also probably already made a higher yield on it than those advisors volition make in the next decade on their stock portfolios. Requite yourself a pat on the back, you’ve earned it.

An investment in Dogecoin is non about making money (although it may happen accidentally) information technology’s about existence a function of something bigger.

The retail investor is no longer an individual. They’re a team, and Doge is their mascot – at $0.01 or $1.

How to Buy Dogecoin

If you’ve decided to trade some of your money for the opportunity to exist part of a revolution, here’south how you can do it.

Dogecoin is non supported on all exchanges, however you can pick it upward on Robinhood, Binance.The states and WeBull.

  • Robinhood Crypto

    securely through Robinhood Crypto’s website

  • Binance US

    deeply through Binance US’s website

  • Webull Crypto

    securely through Webull Crypto’s website

The Future of Dogecoin

A $8.v billion dollar meme tends to shake traditional investors to their cadre. It even scares many away from cryptocurrency birthday. While many see this every bit a market top indicator, others withal believe Dogecoin volition hit $1 before the cryptocurrency bull market is over.

In 2017, the biggest concern facing Bitcoin was it’southward viability for everyday apply. No stores accepted it as payment (except a few actually, actually smart ones) and the average person even so thought Bitcoin was magic net coin. Now the narrative has changed, and Dogecoin has had a pregnant touch on in cryptocurrency adoption as a whole. Gone are the days of boring CDs and treasury bonds from grandma. The new generation speaks in memes on their iPads from the historic period of 3, and their finances ought to reflect that.

Dogecoin introduced the millionaires and billionaires of the future to a engineering science they didn’t know (and may nonetheless not realize) they wanted: blockchain.

If the growth of blockchain and Bitcoin truly follow Metcalf’south law (every bit they appear to exercise so far), so widespread adoption through whatsoever channel is non merely a good thing, only ideal.

Dogecoin is unlikely to stand the test of time, but it almost doesn’t matter. Elon Musk is currently pushing the price of Dogecoin effectually with Twitter, and anything he says tends to heighten or lower the coin’s price. All that matters is that you tin invest at the level you are comfortable with, you empathise you could lose that money and you potentially make a profit when you sell during a Musk-induced price spike.

Oft Asked Questions


DogeCoin was invented past Billy Markus, yous can see Benzinga’s interview with him higher up.

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  • How to Invest 10K

Source: https://www.benzinga.com/money/is-dogecoin-a-good-investment

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