Doge Coin Meme Or Legitimate Currency?

Dogecoin and dollars on black background. picture credit to cryptocoinspy.com

This isn’t the usual topic I would cover, however a lot has been going on with Doge Coin, and I figured I would talk about it. Just a warning before hand, I’m no financial expert, and this is not advice. I am only providing basic facts and my opinion, if you’re looking into invest into any form of crypto currency please do your research.

Lets get right into it, Doge Coin was created as a joke back in 2013. This year it’s value is up over 10,000%. At that time Doge Coin was used as a tipping service on different social media platforms. Today it is accepted as a legitimate currency by a few different companies. The most notable being the Tech supply company Newegg, as well as the possibility of GameStop. Doge Coins rise was due in part to the GameStop short squeeze, and all of that business with the hedge funds. I myself do not know enough about stock trading to comment on that situation. However the whole ordeal boosted the value of a few less traded stocks, and currencies such as Doge. That along with Elon Musk’s consistent social media postings have considerably boosted Doge’s value.

Is Doge Coin Worth It?

With Musk expected to discuss Doge on SNL this week, it’s likely that will be the boost the coin needs to reach a dollar. However with volatility of the crypto market it’s possible for the coins value to tank again at any time. I myself do not believe that it is super likely. I believe the coin will continue to rise in value. Though crypto as a whole is volatile, and nothing is guaranteed. So do I think Doge Coin is worth investing in? Yes I do, but if you start now, be prepared to hold until the value really soars. Doge has settled between .40-.60 cents and it is likely to take awhile before we see the same increases we have seen recently. I bought in at .02 cents, and have sold and bought along the way. However now I see holding is the way to go.

There it is, some facts, as well as my opinion on the current state of Doge Coin. I have one more tid bit of information I want to share since I didn’t do it. If you had invested all of your stimulus checks, and with the proper timing that 3,200 dollars would be over 500,000 today. that’s a crazy thought isn’t it?

Anyways that is all I have to say about Doge for today. I see it as the little meme that could, I can see Doge still chugging along past a dollar however only time will tell. Let me know what you think in the comments, check out all of my socials below, and check back soon for my next post!

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