Should I Invest in Dogecoin? The Verdict for 2022

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When Dogecoin (DOGE) first came onto the scene, most people saw it as a joke, including its founder. Then suddenly, even Elon Musk was backing the coin, and its value soared.

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Like any cryptocurrency, buying Dogecoin doesn’t guarantee huge profits for investors and no individual trade will be the one you can retire on.

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What Is Dogecoin?

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How is dogecoin used?

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Dogecoin Price History

Little did anyone know that this was just the beginning. In May, it reached an all-time high of $0.67, representing a return of 334,900%. Why, you ask? The entire crypto market was enjoying a boom during this period (like NFTs are seeing now), and many cryptocurrencies benefited from it, so this was undoubtedly a factor.

Should I Invest in Dogecoin?

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Should I Invest in Dogecoin? The Verdict for 2022

When Dogecoin (DOGE) first came onto the scene, most people saw it as a joke, including its founder. Then suddenly, even Elon Musk was backing the coin, and its value soared.

Like any cryptocurrency, buying Dogecoin doesn’t guarantee huge profits for investors and no individual trade will be the one you can retire on.

What Is Dogecoin?

DOGE dates back to 2014, making it even older than Ethereum, which launched in 2015. But unlike most cryptocurrencies, its team never had high hopes of it becoming the next big currency or changing the world.

How is dogecoin used?

When evaluating most cryptocurrencies and digital tokens, I’d take a deep dive into the infrastructure and technology behind the protocol, but that’s not applicable for Dogecoin given its lack of unique features.

Dogecoin Price History

Despite being around since 2014, Dogecoin went pretty much unnoticed for the first six years of its existence. When Dogecoin launched, its price was $0.0002, which didn’t change significantly until 2021. In February 2021, the coin enjoyed what at the time seemed like a big jump up to $0.079.

Should I Invest in Dogecoin?

Let’s start on a pessimistic note. Suppose you’re looking for a surefire way to grow your investments.

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