A new analysis shows: buying Dogecoin was a good idea for most investors. Should you invest now, as a top trader suggests?
Dogecoin-a good investment?
Dogecoin is once again the cryptocurrency of the hour. The meme token moved past all the major coins last week, leaving even Bitcoin and Ethereum behind. The self-proclaimed “Dogecoin killer” Shiba Inu (SHIB) also recorded massive profits.
So DOGE could within the last 7 days loud Coinmarketcap.com by almost 30%. Within the last 24 hours it is still 6%. Similar with SHIB: around 23% for the last week and almost 5% within the last day. DOGE is thus the big winner of the crypto top 10, because even BTC and ETH could not rise as much with 17.91% and 25% respectively. Is the time of meme coins starting again?
Who does not sell his Dogecoins, but has hod, is thus with great probability in the plus. Because: As a new analysis by the market researchers of “Into The Block” shows, around two-thirds of all DOGE investors have made a profit with their investment. The researchers write: DOGE is back in the spotlight as a meme cryptocurrency. And:
“The majority of DOGE investors must be satisfied because the In / Out of the Money analysis shows that over 66% of the addresses that DOGE currently hold are in profit.“
# Dogecoin is back in the spotlight as the meme cryptocurrency surged by 18.8% over the past 7-days.
The majority of $ DOGE investors must be happy, as the In / Out of the Money analysis reveals that over 66% of the addresses currently holding DOGE are in a state of profit. pic.twitter.com/j8tkOWdhG9
– IntoTheBlock (@intotheblock) August 9, 2021
Dogecoin Enthusiast Matt Wallace commented: Even after the recent run that multiplied the DOGE price, Doge is the “most undervalued cryptocurrency” in the long run. But could it really be worth getting big into DOGE now, as a popular crypto trader suggests?
Can DOGE reach $ 10?
While many doubt that Dogecoin can hold its value long-term, there are also voices to the contrary. For example, the popular trader “TheCryptoDog” (the name supposedly has nothing to do with the meme coin) writes to his more than 564,000 Twitter followers: he considers it the most lucrative trade to now invest all net assets in DOGE. Although this may be irresponsible and unnecessarily risky, the pseudonymous analyst clarifies his assessment that Dogecoin could also hold some surprises for investors in the future. He writes:
“I might be wrong, it’s not financial advice, whatever, but I think it’s best to put all your net worth in DOGE at the moment.“
Could be wrong, not financial advice, whatever, but I think the highest performing move right now is to put your entire net worth into $ doge.
– The Crypto Dog📈 (@TheCryptoDog) August 9, 2021
Currently, Dogecoin is trading at $ 0.26, and recent forecasts expect DOGE to surprisingly positive development: An analysis of the portal Finder.com could the meme coin explode to prices between 1 and 10 dollars in the next few years! According to the experts surveyed, Dogecoin could be worth an average of $ 1.21 by 2025, and even $ 3.60 by 2030. Paul Levy, Senior Lecturer at Brighton Business School, even attests to the DOGE course’s potential to rise to $ 10 within the next four years.
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