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Have you made the decision that Dogecoin is a solid investment? On Coinbase you can purchase DOGE!
“How much Dogecoin should I buy?” you might be wondering. Dogecoin is almost probably not a sound investment in the traditional sense, but that may be precisely why you should buy it.
IS DOGECOIN AN EXCELLENT INVESTMENT FOR 2022 ?
Billy Markus, a software programmer, designed Dogecoin in about three hours. Markus spent “the bulk of that time making changes to the client to make the text Comic Sans” after copying and pasting Bitcoin’s core code.
Markus is the first to admit that Dogecoin was conceived as a prank. In 2015, he even liquidated the entirety of his position, which would have been worth millions today.
Dogecoin’s market capitalization topped $75 billion on May 4, 2021. However, Dogecoin’s value has plummeted since then.
The dog-themed cryptocurrency still has a multi-billion dollar market worth, despite being down over 50% from all-time highs.
Is it too late to board the Dogecoin rocketship, or will Elon Musk have a few spare Falcon 9s on hand? You can proceed if you agree with the latter.
Price of Dogecoin
While I’m no expert on fundamental analysis, anyone who has ever copied and pasted anything online knows that this task is unlikely to be worth $26 billion.
Dogecoin’s price, like Bitcoin and precious metals, is only worth what someone else is willing to pay for it. People are willing to spend a lot for the Shiba Inu themed meme coin for some reason.
To learn why, read Richard Dawkins’ 1976 book The Selfish Gene, which is where the term “meme” was first coined.
“The new soup is human culture’s soup.” We need a name for the new replicator, a noun that conveys the concept of a cultural transmission or imitation unit.”
The price of Dogecoin is determined by its cultural value rather than its underlying technology.
Dogecoin has managed to bring people from all across the world together in common aspirations of money, humor, and connectedness in the Robinhood-GME-Twitter-pandemic period.
You may get your own Dogecoin and be a part of a worldwide movement for the now-not-so-low price of $0.20. Remember that market capitalization, not per token pricing, is the ultimate measure of a cryptocurrency’s worth. Because there are so many Dogecoins in circulation, the price per coin is quite low.
To the Moon with Dogecoin?
Since 2017, Dogecoin has increased by 2000% three times. That’s what it’s all about.
Where does it end? That is the billion-dollar question that remains unanswered. Nobody really knows, to be honest. You would have been taken to the psychiatrist if you suggested $1 dogecoin during the 2017 bull run, but today it’s all everyone can talk about on Twitter.
For a moment, let’s put things in perspective. The market capitalization of $1 Dogecoin would surpass that of Charles Schwab, Blackrock, American Express, IBM, and Goldman Sachs. Although this is doubtful, it is now ahead of E-trade, Hasbro, and Levi Strauss – so who knows? The cost stays cheap. Today is the best time to buy DOGE on Robinhood!
Is Dogecoin a Good Investment?
During the GameStop short squeeze in 2021, an army of social media-fueled Robinhood investors brought down Melvin Capital, and decentralized cryptocurrencies have sparked panic among central banks around the world.
Power appears to be flowing from the top, with fiber optic cables and WiFi routers carrying it down the staircase.
If you’re a zoomer or millennial with a Robinhood account, chances are you already possess more DOGE than any financial expert on the planet would recommend, and you’ve made a better yield on it than those advisors would make on their stock portfolios over the next decade.
You’ve earned it. Give yourself a pat on the back.
An investment in Dogecoin is about being a part of something bigger than just generating money (though that may happen by accident).
A retail investor is no longer a single person. They’re a group, and Doge is their mascot, whether you’re betting $0.01 or $1.
Where Can I Buy Dogecoin?
Here’s how to do it if you’ve decided to trade some of your money for the chance to be a part of a revolution.
Dogecoin isn’t available on many exchanges, however it is available on Robinhood, Binance.US, and Coinbase.
IS DOGECOIN AN EXCELLENT INVESTMENT FOR 2022 ?
Dogecoin’s Long-Term Prospects
Traditional investors are often shaken to their core by a $26 billion meme. It has even scared many people away from cryptocurrency. While some say this is a market top indicator, others believe Dogecoin will reach $1 before the cryptocurrency bull market ends.
Bitcoin’s feasibility for everyday use was the main issue in 2017. The typical individual still thought Bitcoin was mystical online money, and no stores accepted it as payment (save a few really, really smart ones).
The story has now shifted, and Dogecoin has had a huge impact on cryptocurrency acceptance in general.
Gone are the days of grandma’s boring CDs and treasury bonds. From the age of three, the new generation speaks in memes on their iPads, and their economics should reflect that.
Dogecoin introduced future millionaires and billionaires to a technology they didn’t know they needed (and may still need): blockchain.
If the evolution of blockchain and Bitcoin follows Metcalfe’s law (as it appears to do so far), then widespread adoption via any channel is not only desirable, but optimal.
Dogecoin is unlikely to last in the long run, but that doesn’t really matter. Elon Musk is now using Twitter to manipulate the price of Dogecoin, and anything he says has the effect of raising or lowering the coin’s price.
All that matters is that you are able to invest at a level that you are comfortable with, that you are aware that you may lose money, and that you may benefit if you sell during a Musk-induced price surge.
REASONS TO PURCHASE DOGECOIN INSTEAD OF SHIBA INU IN 2022
Since a long time, Dogecoin and Shiba Inu have been involved in a nasty crypto dogfight.
In the last few years, investing has evolved into a distinct beast. Meme coins, cryptos, and NFTs have sparked interest in the crypto industry.
while also generating billionaires in a matter of months. Of course, there have been casualties, but that hasn’t stopped others from dabbling in the crypto world.
Shiba Inu and Dogecoin are two additional prominent cryptos right now, in addition to bitcoin. For the past few months, these two coins have been making headlines virtually every day.
It’s as though DOGE and SHIB are engaged in a crypto dogfight that has engulfed the cryptosphere.
SHIB and DOGE are based on quite diverse technology, yet none is particularly unique or remarkable.
Having said that, the Dogecoin vs. Shiba Inu battle has made people recognize that DOGE will be a more profitable investment than SHIB in the long run.
Let’s look at ten reasons why they might be correct, and why DOGE will continue to be the best meme coin.
DOGE is ideal for crypto newbies: Dogecoin’s extreme volatility over the last year may have scared some investors away.
but investing in something that may explode or plummet in a matter of minutes necessitates a strong mindset. DOGE is a fantastic investment for novices since it.
allows them to see what crypto investing is all about by holding it for a long time, Volatility and gains are unavoidable, but investors must be prepared to ride through the storms.