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Dogecoin is a cryptocurrency that was created in 2013 as a joke, inspired by the “Doge” internet meme. However, despite its origins, Dogecoin has gained a significant following and has become a legitimate investment option for many people. The Dogecoin hodlers are still alive and well, but does this coin have another chance to skyrocket?
There are several reasons why Dogecoin might be a good investment at this time. First, the price of Dogecoin has seen tremendous growth over the past year.
In January 2021, the price of Dogecoin was around $0.0047. As of September 2021, the price has increased to over $0.69, representing a more than 14,000% increase in value. While it’s impossible to predict with certainty where the price of Dogecoin will go in the future, its recent price growth suggests that it has the potential for further gains.
Naturally, it’s crucial to keep in mind that investing in cryptocurrencies entails dangers. The value of your investment may decrease as well as increase depending on the price of Dogecoin. Before making any investing selections, it’s crucial to conduct your own research and take into account your financial condition.
Zooming out Doge has not performed as bad as some other risk assets in 2023 which might be something to keep in mind when thinking about purchasing more in the future.
WHY COULD DOGECOIN BE RALLYING MORE?!
Recently Bitstamp had a major announcement! They said: “Hey Doge enthusiasts! Good news – $DOGE is now available on our platform. Don’t miss out on the chance to buy and sell with no trading fees up to $1000 over a 30 day period.”