Dogecoin JUMPING 1,000% in 2 DAYS! Dogecoin to the moon?

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vishalnale7
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Dogecoin has risen over 1,000% in just 2 days! Why is this? Should you buy Dogecoin now? If you have any comments or questions with my Dogecoin and Cryptocurrency analysis and chart analysis, drop me a comment down below!

Link (1) Dogecoin and Cryptocurrency definition (Investopedia):
https://www.investopedia.com/terms/c/cryptocurrency.asp

Link (2) Dogecoin and Crypto target audience (CoinDesk):
https://www.coindesk.com/new-coindesk-report-reveals-who-really-uses-bitcoin

Link (3) Real time trading chart of Dogecoin: https://thestockstudents.com/tradingview_chart/?symbol=DOGEUSD

Key Points:
-Dogecoin jumped over 1,000% in just 2 days during the frenzy and parabolic phase. Since then, we have dropped down the sellers curve.

-Wallstreetbets are attracted to Dogecoin because it is a decentralized currency. This is a more fairer playing field than the overall stock market, which I believe is the reason why the target audience of reddit likes crypto in general.

-Dogecoin gained incredible popularity because of its memeability. The ability to be funny and recognizable likely made people laugh and want to invest in this cryptocurrency over more serious investments.

-Investing in Dogecoin is a bit risky at the moment. The cryptocurrency does not have true intrinsic value, and this move is purely momentum driven. As always, you have to consider the upside and downside risks before investing in the stock.

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Website: thestockstudents.com

Disclosure:
I do not have any positions in Dogecoin

#dogecoin #cryptocurrency #stockmarket
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Crypto Trading
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