#Crypto - Is DOGECOIN the next MVP?

illyab(47)

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#Crypto - Is DOGECOIN the next MVP?

History

This cute Shibe Inu has been known for a while as the meme called Doge. According to Know your meme, the dog that led to the creation of the meme was rescued by a japanese Kindergarten teacher.

During a session of photos, the dog posed with a slightly suspicious look and thus, the meme was born.

_{The meme. Image Source}

Some time later, programmer Billy Markus sided with Adobe Systems' marketing department of Sydney employee Jackson Palmer to create the cryptocurrency as a "joke currency". Turns out the currency grew a lot since then and currently has nearly 113 billion DOGE around, according to Coin Market Cap. But is it good enough to invest?

In my opinion, YES!

The low value of the currency is a good deal if you're starting at the cryptocurrency market. The current average value of the Dogecoin, as for Jan 16th, is about USD 0,007, according to Tradingview / Bittrex. A quite low value for a currency, what means that stocking a few Dogecoins won't hurt, because of the low risk involved.

I'd recommend starting with USD 3,00 worth of the currency, that would earn you about 430 Doge. This means you wouldn't lose much money if the coin started to drop. This value is ok if you wanna feel how the Doge evolves. But, of course, low risk, low potential earnings. However, as for January's 6th, the coin jumped straight to USD 0,01, which may seem low, but that was a high raise, showing that it has potential to generate some nice profit during an euphoria period.

Jan 6th's spike. A lot of money was made that day, what demonstrates that the low risk, but notable return can be a plus towards the coin. _Source

The currency is still finding its place among the others, but it seems a good starting point, so I'd bet a few of my chips on this cute Shibe.

Watch the market for possible raises and when it happens and you feel the time has come, sell them and collect your earnings. Do the math and see how it goes! So, lets wrap it up simply:

Dogecoin Pros

Low investment value
Low risk
Noticeable growth potential
Much doge, so cute wow

Dogecoin cons

Rather unknown currency
Currently has a low return value
Comes in a steady drop, which is good for buyers

This is it for now. I believe that the Dogecoin can be the next MVP, but this will take some time, since the coin is not that much known around, but the memecoin is spreading really fast and can get us some nice surprises. It's up to you if you wanna try or not. The risks are low, so why not?

See ya and Steem on, people! Don't forget to upvote this thread, since it supports my blog and allows me to deliver more quality content!

Thanks in advance!

Who am I?
Just a regular person looking to make the world a better place. Steemit is home! Steemit is life!

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