is it worth investing on Doge Coin?

Hello Friends,

Good day to you all and I hope this weekend is going well for you.

The current crypto market is going through a roller-coaster ride. Bitcoin halfening is done and now what is expected? I don't think we are expecting the bull run to start just after the halving. I think the market is in a good state where we need to do some deep study. Why deep study I mean to say we can figure out some of the projects that are available at low prices. I have seen a few coins that are available at a discount of 40 to 50%. This price town has happened in just one month time. I mean if you compare the price between March and April you can easily see the difference.

source

The One I am going to talk about today is for dogecoin. I know that it's a meme coin and people generally stay away from this coin but this can also be a profit-making opportunity. You never know when the Tesla founder will talk about this coin and it starts going up. This has happened many times in the past and there is no guarantee that it will not happen again. Currently, this coin is available at the price of $0.16 and justice couple of weeks back it was around $0.22. I can say it's almost a 50% drop in the price so I expect that this recovery can happen soon.

After the Bitcoin halving, we are going to see some stability in Bitcoin price for some time. This is what expert says but sometimes no expert is right and the market goes in a different direction. In the same manner, the meme coin I have talked about is also not that much predictable and things can go just opposite what we have thought about. I think a meme coin can be part of the investment but surely not a big amount. Probably a small amount like ten to twenty dollars or thirty dollars can be invested on such a coin. Invest only if you think this amount is okay for you and you are fine to lose it.

Would you be OK if you get multiple times the profit on this coin knowing that it is a meme coin that has no fundamental value? I hope many of you would be OK but would you be OK if you also lose some funds on meme coin because anyway there is no fundamental value to this project? If you are fine in both scenarios then I think you are the right person to go for this but please make sure to invest only a small amount that you can afford to do. Investing in Bitcoin or Ethereum can be pretty much safe in this market but surely not on meme coins.

Conclusion

This is a good time when I am trying to understand more about coins and I have shortlisted about 15 coins that I am working on. This list also includes some meme coins and some AI-related projects whereas some leading coins are also in the list that have been doing well since the last market cycle. Matic is another coin on my list but I am in study mode to see how things are going and whether this can be a good time to invest in them. It's not financial advice and more of its knowledge enhancement.

Thanks for stopping by

Posted Using InLeo Alpha