How to Determine When to Buy and Sell Dogecoin
Published May 25, 2021.
As a fun and friendly internet currency, Dogecoin is a peer-to-peer and open-source digital currency introduced in December of 2013. The original idea behind Dogecoin was to create a more memorable cryptocurrency project to help the public understand the technology behind blockchains.
The price of Dogecoin has risen by eye-popping amounts, as it has risen by more than 14,000% since the start of 2021.
Should investors be piling in, even if it was originally created as a joke version of Bitcoin?
Many expert Dogecoin price predictions are seen as a downbeat currency, but it is not clear what the future holds. More importantly, at this moment, many are just not so sure what to do with the meme coin.
With the latest cryptocurrency dip, DOGE was involved in it too. On 8th May, it hit 72 US cents, and as of now, on 21st May, it fell to 39 US cents. This just shows the high volatility of the currency.
Firstly, considering all this uncertainty, one shouldn’t invest more money into Dogecoin than they can afford to lose. Don’t let a simple coin lose you your important money. Play only with money you won’t care about.
The next thing to do is to set Dogecoin a price target. Let it be a target that satisfies your needs, but be realistic. Don’t get greedy if it hits your target, as you already know how unpredictable the market can be, especially with the cryptos.
Remember, the decision when to sell Dogecoin is a highly personal choice. Just make sure you know what you are hoping to achieve and keep a close eye on Dogecoin prices. Don’t get herded with the fanbase. In other words, do not do what the crowd does. If you are lucky, DOGE could keep heading to the moon.