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.

Now though, the price has dropped, and some are wondering if Dogecoin is just a joke after all. You might be asking yourself: Should I invest in Dogecoin, or have I already missed the boat?

Like any cryptocurrency, buying Dogecoin doesn’t guarantee huge profits for investors and no individual trade will be the one you can retire on. The path to trading profitably is a long road and it took me a long time to realize what I needed to do to get there.

To determine whether it could make a good investment, let’s do some research first – I’ll run through its history and how it works before moving on to a few factors that could make it valuable.

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...

What Is Dogecoin? 

Since it’s based on bitcoin, in theory, DOGE would be classed as an alternative currency. Plus, Elon Musk recently started accepting Dogecoin as a payment method for Tesla merch, which seems like the use case he foresees.

How Is Dogecoin Used? 

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.

Dogecoin Price History 

Since Dogecoin was only created as a joke and has swung about wildly in price, it’s probably not something at which you want to throw your inheritance.But if you’re committed to this high-risk but admittedly irresistible coin, here are a few aspects to take into consideration...

Should I Invest in Dogecoin? 

Some might say it’s just a joke. Still, DOGE gained traction by taking inspiration from a meme and using it to give a middle finger to the financial system and cryptocurrencies that take themselves too seriously.

Cultural Capital 

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