Is it too late to buy Dogecoin?
Is it too late to buy Dogecoin? The most famous meme crypto has an iconic and heartbreaking price record that’s made some millionaires, but at the same time lost money for others. Although in early 2021 Doge had managed successfully to increase its market capitalization by more than 30%, currently they’re down around 60%. So is there still hope or should we give up on this coin altogether before even trying our luck with them again next year when things might change once more?
If you’re still pondering over this question, here are a few things you should remember before making your decision.
Still a young coin
The first thing to remember is that Dogecoin is still a very young coin. It was only created in 2013 and since then it has had its ups and downs. So it’s still too early to say whether this coin is here to stay or not.
Secondly, even though the price of Dogecoin has been volatile, it has shown signs of stability in the past few months. This means that there is a possibility that the price will not drop any further and might even start to rise again.
A strong community
Lastly, Dogecoin has a strong community backing it. This is evident from the fact that even when the prices were down, the community continued to hold on to their coins and did not sell them off.
Taking all these factors into consideration, we can say that it is not too late to buy Dogecoin. However, we would advise you to invest only what you can afford to lose and to keep an eye on the market so that you can sell off your coins when the prices start to rise again.
Future of Dogecoin
When two computer engineers decided to create a digital payment system in 2013, they had no idea that their joke would eventually become one of the most popular cryptocurrencies in history. At first glance, it seemed as if Dogecoin was just another failed experiment with low liquidity and narrow acceptability but over time this changed drastically when more people began investing heavily!