In this video we take another look at Dogecoin- a popular cryptocurrency that Elon Musk has hyped up a couple times over the months. I make my Dogecoin price prediction, as well as whether or not you should be investing in Dogecoin. Many felt that Doge wouldn’t reach $0.01 until at least the end of 2021. We reached that feat on the 1st of the year. Does this mean it will continue to run and reach $1? Not necessarily. Many feel that since Bitcoin is at an all time high, than other cryptocurrencies like Dogecoin should be too. Unfortunately, there is one big difference between Bitcoin and Dogecoin, and that is amount of coin out there. With Bitcoin, there are a maximum of 21 million Bitcoin. With Dogecoin, you have many billion Dogecoin, and since there isn’t a hard cap on how many there can be, this really makes it hard for the coin to become any more valuable. That’s why we probably won’t see it at $5, or even $1 anytime soon. However, it is still possible that over time, as we get more of a clear picture on where these cryptocurrencies are going, that Dogecoin can rally a bit further, and maybe one day, several years down to road, reach $1. If Elon Musk is correct in predicting a colonized Mars would be using cryptocurrency, and in particular Dogecoin as their main form of currency, we could see a jolt in price at that point. Obviously still a ways away. Also, we may see a slight up in price due to stimulus checks, as I am expecting with equities, but nothing that is going to bring Dogecoin to $1.
I WANT TO KNOW: Are you guys still buying Dogecoin? Are you selling off some, or all? Or are you holding, and riding this thing out? Let me know down in the comments
LINK TO PRIOR DOGECOIN VIDEOS:
Is Dogecoin a Good Investment? | Why I’m Buying Dogecoin🚀 (https://youtu.be/LK361a9bR40)
Is Dogecoin Worth Investing In? | What Returns Can You Expect?🚀 (https://youtu.be/qivk39PVwvE)
Also, you can buy Dogecoin on Robinhood. It’s important I mention that you won’t actually be able to add it to your wallet, just trade it, but if you sign up for Robinhood using my link, we will each get a free stock as well👉🏼 https://join.robinhood.com/pauld2730