Down 80% From Its 2021 High, Is Dogecoin a Buy?
The overall cryptocurrency market lost roughly 10% of its value in the six-day span from Jan. 5 to Jan. 11. Because of digital currencies' volatile and unproven nature, investors are most likely parting ways with them due to the elevated uncertainty facing the economy today. Topics like inflation, the Fed's actions, and the ongoing pandemic are spurring a rush to safer assets.
Dogecoin (CRYPTO: DOGE), the once-surging meme coin that sparked interest on social media from the likes of Tesla CEO Elon Musk, is probably the most speculative cryptocurrency out there. And for whatever reason, its price has come crashing down over the past several months, enticing daring investors to possibly add it to their portfolios, hoping for a quick profit.
Is Dogecoin a buy now that it's massively off its 2021 high?
Source Fool.com
