Elon Musk’s dog added $500 million to Dogecoin’s market cap in 15 minutes The Tesla and Twitter CEO continues to move markets with just a few tweetsOne tweet from Elon Musk can move markets, and on Tuesday night, the Tesla CEO and embattled owner of Twitter pushed up the price of canine-themed cryptocurrencies with just a photo of his dog. “The new CEO of Twitter is amazing,” gushed Musk, as his dog, dressed in an iconic Silicon Valley-style black turtleneck, sat authoritatively in a large armchair behind a desk.
Should You Invest In Dogecoin? YES! Dogecoin is a digital asset worth investing in. Although it could have been a great idea to invest in Dogecoin much earlier, it is not too late to invest now since DOGE continues to trade below $1. This means you can buy more which can turn your $100 investment into thousands and millions of dollars. Whatever happens, always ask the question, do the potential rewards of investing $100 in Dogecoin (DOGE) outweigh the possible consequences of the risks associated with investment? Investing in DOGE has made several people millionaires. Who knows, you could be the next Dogecoin millionaire in the not-too-distant future.
Virtual Currencies and Blockchain Technology Is a New Concept Although Dogecoin is one of the pioneer cryptocurrency projects, 95% of the global population is not into cryptocurrencies. This is the primary reason why you shouldn’t think investing $100 in DOGE will result in overnight gains. No analyst foresaw the massive spike in prices of crypto in 2021, so invest in Dogecoin and other digital coins with caution. Know the Actual Costs Involved Investing $100 of your hard-earned money in Dogecoin only to lose some of your capital to depositing and transaction fees is heartbreaking. Find exchanges that meet your preferences in terms of fees. Does the exchange allow free deposits and low transaction fees? Once you ask this question, you will be able to tailor your search into finding an exchange that will allow you to use your $100 to buy a package of Dogecoin (DOGE). Know Your Risk Tolerance Can you afford to lose $100? Suppose the price of DOGE should drop to extinction zones, will you be able to survive after the loss of your capital? Dogecoin is currently trading at $0.1569 but continues to experience sharp spikes and recessions in its daily trading volume. If you assess your risk tolerance and realize the rewards outweigh the risks, then you can carry on and invest $100 in Dogecoin (DOGE). Do not follow feeds from social media and invest your life savings into crypto. As an e-learning organization, we continue to advise our clients about the need to invest an amount they can afford to lose.
Will Investing $100 In Dogecoin Make You A Millionaire? Investing $100 in Dogecoin can make you a millionaire only if you hold onto your DOGE investment for the long term and the price of DOGE rises to more than $2,000. For understanding, let us use simple mathematics in our analysis of a $100 DOGE investment turning into a millionaire maker. At $100, you can purchase 637 coins. You could become a millionaire if DOGE trades for $2,500 in the future. Although there isn’t any fundamental or technical analysis-backed research to back up such a price forecast, Dogecoin has a huge following which can propel the cryptocurrency to such milestones. At $2,500 and 637 coins in holdings, multiplication will provide the millionaire statistics. $2,500 multiplied by (×) 637 totals $1,592,500 (1 million). If DOGE tests $5,000, your $100 investment could turn to $3,185,000 (multi-millionaire). Dogecoin continues to form a substantial part of the current crypto revolution called decentralized finance (DeFi). Although built on an independent blockchain, Wrapped Dogecoin (WDOGE) is an ERC20 token that can interact with DeFi protocols and applications on Ethereum. Therefore, Dogecoin continues to gain mileage as Ethereum dominates the DeFi space. Dogecoin is one of the highly volatile digital currencies on the market. With that said, DOGE has become too popular to trade in extinction zones, and it’s an asset that must be researched upon due to the massive returns it could add to your portfolio.
Why Is It a Good Investment? 1. It’s One Of The Most Abundant Cryptos If you’re looking for a good investment, Dogecoin is a great option. Here’s why: Dogecoin is a cryptocurrency that was created in 2013. It is based on the popular “Doge” memes that were popular at the time. Dogecoin has a circulating supply of over 100 billion coins and a total supply of over 5 trillion coins, making it one of the most abundant cryptos in existence. Dogecoin calculator
2. The Price Is Increasing The price of Dogecoin has been on the rise in recent months. In January 2022, the price of Dogecoin was $0.02. As of April 2023, the price of Dogecoin is $0.07. This represents a 500% increase in value in just three months! 3. Get Started with Only $50 Investing in Dogecoin is a great way to get involved in the cryptocurrency market without having to invest thousands of dollars into Bitcoin or Ethereum. You can buy Dogecoin for as little as $50
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