Is Dogecoin a Good Investment in 2022?
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Bearing in mind the long cold crypto winter, and the recent collapse of FTX, many investors are wondering whether Dogecoin is still worth buying.
This guide will aim to answer the question - is Dogecoin a good investment? We're going to look at a range of different metrics to help crypto investors make informed choices on the original meme coin. This will include historical and current price action, expert opinions, and more.
As many investors know, part of the reason Dogecoin was catapulted to fame in 2021 was down to Tesla's CEO Elon Musk. Musk tweeted about DOGE meme tokens on several occasions and each time, the value of the cryptocurrency increased.
At one point in 2021, investors saw gains in the thousands of percent. Is Dogecoin still a good investment today? We talk about this subject throughout this guide.
In the meantime - and as a result of Elon Musk's more recent tweets in October 2022, Dogecoin experienced another sharp increase in price.
Between the beginning of October and the turn of November 2022, DOGE's market cap increased by almost 144%. This recent price action has led investors to ask, is it a good time to buy Dogecoin?
The crypto markets are extremely volatile, as such, there is no black-and-white answer. Despite the collapse of FTX, which has affected the entire market, many analysts think DOGE is still a worthy addition to a portfolio of digital assets.
There are also rumors circulating about Twitter accepting DOGE, which is a major plus for investors, and could see it becoming more widely utilized as an online payment method.
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