Want to Buy Doge? Read This before You Do
I can see euphoria among many netizens about buying Dogecoin. In the last 24 hours, we have seen a lot of tweets, facebook posts and many subreddits posting a lot about doge. Seeing a huge surge in the price, a lot of crypto newbies wants to know how to buy Dogecoin.
Before you join the same squad, read this post.
Doge is a MEME coin, and the price heavily fluctuates. Recent surge in price is due to the tweets of Elon Mask. The redditors love DOGE and we see surge almost every year.
What started as a joke is now worth 40B by marketcap.
Doge Barking at the Moon pic.twitter.com/QFB81D7zOL— Elon Musk (@elonmusk) April 15, 2021
This is that time of the year where DOGE surges and now it has almost reached the MOON.
Let me share with you a simple chart that tells how DOGE has behaved over the past few years.
The orange color represents the price movement of DOGE with respect to BTC. And the green color represents price movement with respect to USD.
Not saying this won’t go up or down in short term or long, but I am letting you decide that. Is the risk worth taking at this point in time?
What I personally feel is DOGE has already made people rich. But it is not going to give you the same gain from this point.
As Teeka Tiwari says, let the game come to you.
Can Doge Reach 1 USD?
Absolutely it can. But that will put Doge to #3 by marketcap. Long run, it is not sustainable.
Can Doge Reach 10 USD?
If Doge touches 10 USD, then it will cross BTC by marketcap, provided BTC does not go up from here. If the whole market moves 3-4X, may be then it is possible. Else, absolutely not.
Can Doge reach 100 USD?
Dogecoin price: How high will Dogecoin go?
I think 0.4 USD is it. If Elon wants, at max we would reach 1 USD, but should be for a very short period.
Should I buy Dogecoin now?
I would not. You decide.
When do buy Doge?
I prefer buying at the bottom. Sit tight for a year. Sell. I am going to do this now. I sold early this time. Doge is not a 30-40% profit coin. Doge is a wealth generator. Buy and sit tight and wait for the right time.
STFO. How to buy Dogecoin?
If you understand the risk, and still want to buy Dogecoin, you can buy from the following sites.
- Buy Doge on Binance
- Buy Dogecoin on Huobi
- Buy Doge on Kucoin
- Buy Doge on Poloniex
- Buy Doge on WazirX
Is Dogecoin a good investment in 2021?
Dogecoin is a good invest, but for me in April, 2021, it is not.
There are endless number of opportunities out there in crypto. And I will share some DOGE alternatives. In other words, I will share some coins that could give a similar returns or may be lesser, but risk to reward ratio is very less.
Whales playing the game do not want you to read this.
Chasing pumps can really be a gamble where mostly you end up on the losing side, because you do not know when to sell. I have been there, done that.
If you are someone who already profited from the surge, congrats. You may have made a lot of money. Cash it out. Make a house. Build a dam. Help the poor. Go for a vacation. Date a girl.
I was not able to ride this DOGE wave, but you can.
I am just trying to offer some (UNWANTED but WISE) advice.
How to know the end of DOGE run is near?
We should not be checking the price, but the marketcap. Checking the marketcap, we get an idea if it is worth buying, holding, or it is time to sell.
Dogecoin’s current marketcap is as same as DOT’s. If we increase the marketcap by 1.25 times, it almost will be crossing the marketcap of Tether and the would be #5 coin. 2X from here would cross XRP. And 2.2X from where would make it the third most valuable coin after BTC and ETH. This is still possible, but chances are sleek. Even if that happens, will that be sustainable? No.
Let’s look at the downside. In crypto, things repeat. History repeats. We have seen many times. Let me assume this repeats again. Your 100 USD may become 1 USD over a period of time. Happened multiple times in the past.
You will have regrets. And the pain of losing money chasing a pump would haunt you.
I know it is tempting, but control your adrenaline rush. Crypto is here to stay. You need to make immediate money or all your money this cycle, or within a month. There is a lot of time. There will be a lot of opportunties.
Now, let me tell you some coins that may pump like Dogecoin did (or may not) but the risk-reward ratio is less.
Dogecoin Alternatives in 2021 (wrt the pattern)
Not mentioning others.
Just go to COINMARKETCAP.COM and check the history and decide yourself.
Check their social presence, how strong is the community and decide if the chart may repeat or not.
VIDEO: Should you buy Dogecoin Now?
Where to buy these (Doge Alternatives) coins from?
Most of the coins mentioned here will be in the crypto exchanges mentioned in this post
There is no guarantee of that we will be seeing similar rise in the price for these coins too. You may still end up losing 99 USD out of 100 USD in these coins as well. But the reward can be much higher. A 100 USD in some of the coins can become 1000 USD in less than a month.
Please exercise caution while investing. And as usual, DYOR. None of this is a financial advice. Do not risk all your money or a hefty sum in these coins. I am repeating again: Crypto is not a QUICK GET RICK SCHEME. Crypto can make you a lot of money in a short term though with a very less money, if you are able to play it well.
All the very best.
Update: April 2022 – A lot of things have changed since we wrote this post last year. Doge is one of the best meme coins, and Elon Musk has shown a massive support to the Doge community. Doge to us is a good investment in 2022. However, I do not hold any Doge atm.