Is Now the Time to Go All-In on Dogecoin?
It's always better to be smart than ignorant, but sometimes you need to plain lucky. Let's say an investor, Claudia, had an emergency fund handy during the height of the pandemic last April and had the liberty of using her first $1,200 stimulus check for investment purposes. Not knowing a thing about Dogecoin (CRYPTO: DOGE), or what it does, she moves all-in. In hindsight, her courage paid off as Claudia's meme purchase would have turned into a stunning $168,240 as of today, and it would've been more than double that amount if she had cashed out during last May's highs.
So, what made this meme cryptocurrency -- that started as a joke -- gain so much? And more importantly, is Dogecoin's meteoric rise a harbinger of what's to come?
Cryptocurrencies are more like cyberorganisms in that they are constantly evolving. Just because Dogecoin started out as a meme does not mean it has to, or will, always remain that way. Let's look past the fear, uncertainty, and doubt -- known in the cryptocurrency world as FUD -- surrounding the iconic Shiba Inu cryptocurrency and see why it could be a sound investment.
Source Fool.com
