Is it worth investing in Dogecoin?
Today the world of personal economics and investments has become very complicated. Since the economy of people is not based so much on the job they have but more on the investments they make, which does not find the current economy and several factors depending on your nationality, you will probably find a kind of economic stagnation, where you can grow makes a little difficult. But this is where smart investing becomes extremely important.
Given this, many people have looked for a way to make different types of smart investments. The investment about which it is usually heard popularly on social networks and the internet, is that of cryptocurrencies.
After bitcoin hit the price of gold a few years ago, and many people will end up being millionaires because of that investment, we have sought to replicate the same kind of success that so many others had. This is why many people have gone directly to the cryptocurrency market and have sought to get their share of the money.
In recent months, the cryptocurrency that has received the most attention has been Dogecoin, but once it is not often taken seriously but has only recently started to attract the attention of several people.
What is Dogecoin?
Dogecoin is a cryptocurrency that was created in 2013. Unfortunately, its creation, it has been seen as a joke, even by the creators themselves. Nonetheless, many people have tried to change the course of this pot and make this cryptocurrency the next bitcoin. But, as we can imagine, it has not been the case so far.
people who have tried to do their part to boost this cryptocurrency, such as Elon Musk and Mark Cuban, but have only ended up getting results that range from mediocre to simply non-existent. Even so, people who have faith and who see in this cryptocurrency a kind of future, so several people have been buying this same cryptocurrency or investing in it early 2021. But is it really worth their investment?
What is the problem with Dogecoin?
The big problem with Dogecoin, it is not taken seriously at all. All you have to do is see the logo that the cryptocurrency has, which is a meme; and with that you will get an idea of how serious it is. And, although several people have tried to make this a universal or fairly easy-to-use payment method, it always ends up being taken lightly in the end.
In fact, many people claim that this cryptocurrency is a scam, and that is most likely why it does not rise in price. This is because, although there is a large volume of this cryptocurrency running through the market, the reality is that only a small group of people have the most Dogecoin, to the point where it is claimed that only a handful of people have 80% of the volume of all cryptocurrency globally.
Even so, there is the possibility that in the future it may rise in price, so at this time the right circumstances may exist for a person to invest, although some experts say that it will not rise in price until within 10 years at least.