Today, Elon Musk’s favorite cryptocurrency, Dogecoin, hit a new all-time high of nearly $ 0.60; yes, you read it correctly. Now investors around the world are asking the same question: Will Dogecoin make me rich?
Investing in Dogecoin has proven to be a highly profitable practice for many people, but what about those who haven’t bought yet? Is now a good time to buy Dogecoin or should you wait? Will Dogecoin make you rich or should you be careful? We have all the answers you need.
Where to buy Dogecoin: main platforms to invest in DOGE
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First things first, let’s explain where to buy Dogecoin. Our team of financial analysts have worked hard to review the options available to you, and we have settled on these three platforms as the best places to buy Dogecoin.
Etoro started backing Dogecoin yesterday, and now it finds its place on our list of the best platforms to buy Dogecoin. The online broker has a stellar track record for reliability and its innovative features like CopyTrader ™ set it apart from the competition. If you are wondering where to buy Dogecoin right now, eToro is a good option.
Last but not least, Skilling is one of our favorite platforms to invest in DOGE. Within minutes of creating an account, it’s clear that Skilling’s intuitive interface and low fees make it one of the best places you can invest in Dogecoin.
Plus500 is one of the best brokers to buy Dogecoin. Its interface is clear and easy to navigate, and the variety of assets on offer ensures its position as one of the major players in the crypto space. If you want to buy DOGE now, opening a Plus500 account could be a smart move.
Some of the most popular search terms in the last 24 hours include ‘how to buy Dogecoin shares’, where to buy Dogecoin shares, ‘how to invest in Dogecoin shares’ and ‘will Dogecoin shares make me rich?’ Before deciding to invest in Dogecoin, make sure you know that Dogecoin is not a stock; it is actually a form of cryptocurrency.
If you are still wondering ‘what is Dogecoin’ then feel free to check out our introductory guide to buying DOGE.
Will Dogecoin make me rich?
It is virtually impossible to guarantee rewards when making an investment, and this is true for DOGE. We cannot definitively answer whether DOGE will make you rich, although we can provide useful information.
In terms of the fundamental value of the currency, it started as a kind of joke; This is why creators Jackson Palmer and Billy Markus incorporated Doge, an internet meme of a Shiba Inu, into the Dogecoin logo.
However, it has now tapped into one of the most profitable catalysts: market hype. We saw it with the WallStreetBets situation, and now, with Elon Musk strongly supported, we are seeing it with Dogecoin. The market has already demonstrated its ability to make remarkable things happen with Bitcoin and Ethereum, and more recently, GameStop, and we wouldn’t be surprised if it continues.
Interestingly, there are a few technical things that I like about Dogecoin. In particular, the 1-minute coin lock time is substantially less than Bitcoin, Ethereum, and even Litecoin. This makes it scalable, which means your apps could extend well beyond tipping online content creators. With this kind of momentum, he could be a true contender.
If you’re investing in Dogecoin hoping to get rich, it’s probably not the right game for you. However, if, as Mark Cuban has described it, you see Dogecoin as a better version of a lottery ticket, Dogecoin could enrich you. Just make sure you don’t invest money that you can’t afford to lose.
What price will Dogecoin reach?
Again, it’s hard to tell. Any prospective analyst can perform a technical analysis on the recent performance of the Dogecoin market and provide a ballpark figure, although given the immense volatility associated with the cryptocurrency, the reliability of such predictions would be questionable.
So does that mean we have no idea what price Dogecoin will reach? Not quite. We’ve already seen some notable success stories in the crypto space, and we have a pretty good idea of what kind of growth might be possible, and it’s dramatic.
Don’t be surprised to see a Dogecoin crash in the near future because profit taking will always occur. However, the overall picture looks positive at this time.
Will Dogecoin Hit $ 1?
Given its current momentum and Elon Musk’s impending appearance on Saturday Night Live, Dogecoin could very well hit $ 1 anytime soon. Note that nothing is guaranteed, although market sentiment and technical indicators seem remarkably optimistic at the moment.
Will Dogecoin Hit $ 100?
This is where things start to get a bit tricky. For DOGE to be $ 100, it would in all likelihood become the most valuable crypto on the planet, and that’s because its currently unlimited supply is around 130 billion coins.
We are not saying that this is impossible, although if Dogecoin reaches $ 100, it would be a huge surprise.
Social networks react
Trading $ DOGE is like an advanced game of musical chairs except:
• Elon decides when the music starts
• The top 1% of wallets decide when music stops
• There’s $ 70billion on the line
• More than 50% of players won’t find a chair
One of the most interesting coins for this alone.
– Luke Martin (@VentureCoinist) May 4, 2021
Dogecoin is now worth more than Honda Motor Co.
– Blockfolio (@blockfolio) May 3, 2021
Retweet If You’re Ready For May 8th. #DogecoinRise 🐕🪙🚀🌕
– Dogecoin Rise 🐕🪙📈🚀🌕 (@DogecoinRise) May 4, 2021
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