Looking at the crypto market on coinmarketcap.com, Dogecoin is up by more than 6% in last 24 hours while in last 7 seven days it is up with the percentage of more than 355% as of now the moment I am writing the post and this is likely to gain more and more investors seeing the amazing performance of Dogecoin.
We saw that Elon Musk has tweeted a few times about Dogecoin and probably that is the reason investors dived into Dogecoin as you know that Elon Musk is big name and social media does have an effect on people.
Yes it could go higher for some time but you know that if a thing doesn't have a value for people and ain't reliable then the popularity don't last for long.
I am afraid that this bubble could burst sooner or later. This price fluctuations is likely caused by a few tweets by Elon Musk, besides that there ain't seem to be any other reason.
So, the investors that have invested before may make some profit but investors that came later might go in loss. Yes, if you have some extra money, you can afford to play with it. But it doesn't seem to be a good investment for a couple of years to come.
No, its a shitcoin for profits in BTC pairs. Its not worth investing in the long run.
Posted Using LeoFinance Beta
Hmm