Dogecoin 5 dollars

For one, he loved the Reddit community surrounding the digital coin, as its base had grown substantially since dogecoin's creation as a joke in He also appreciated that it was inspired by the Shiba Inu "Doge" meme, he says. And like many holders of dogecoin , "a reason why I put my savings into dogecoin is Elon Musk," who has repeatedly tweeted about the cryptocurrency. Though it's unclear if Musk's tweets in support of the coin have been serious, "I think the guy is a genius," Contessoto says. Above all, Contessoto is very bullish on dogecoin's growth, and thought that it could help him build "generational wealth" to pass on to his future family. Contessoto who works at a music company in Los Angeles says he didn't have disposable income to buy dogecoin, so he took a huge risk.

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Content:

• Dogecoin’s value is soaring. Here’s why people are investing in the cryptocurrency
• Dogecoin (DOGE) price
• Dogecoin Price Predictions 2021: Will DOGE Go Back Up? Will DOGE Rise Again?
• Today's Cryptocurrency Prices by Market Cap
• Some Australians have made a fortune on Dogecoin, but they say it's not all about the money
• Confused About Dogecoin? Here’s How It (Doesn’t) Work.
• Dogecoin has gone up 8000% and DogeDay promises big returns for retail investors
• Iconic 'Doge' meme NFT breaks record, selling for $4 million

WATCH RELATED VIDEO: 3 Things That Will Happen To Dogecoin SOON! Prepare for $1 $5 $25 (Dogecoin 2021 Price Prediction)

Dogecoin’s value is soaring. Here’s why people are investing in the cryptocurrency

A Dogecoin investor has told Newsweek of how he became a millionaire after investing his life savings in the meme cryptocurrency. Meanwhile, an expert has warned about the risks of doing so.

Since then the coin has risen sharply in value as cryptocurrencies in general have grown in popularity, and thanks to support from influential figures such as Elon Musk. In the last 24 hours alone, DOGE has risen in value by over percent, and percent over the past seven days. He concluded the video with: "Clearly the volatility is very high, so I am not a financial advisor, this is not financial advice—purely entertainment.

He had purchased just over five million of the tokens. Newsweek was not given direct access to the investor's Robinhood account and was therefore unable to verify what was shown in the screenshots and video. The investor first shared the news he had become a millionaire in a Reddit post on Thursday. It gained nearly 70, upvotes on the website. He told Newsweek : "I feel absolutely incredible right now.

I grew up very poor, I don't come from money so I've worked dead-end jobs throughout my life to make ends meet. I also own a super beat-up Toyota Corolla that has over K miles on it and completely falling apart. He first started investing in the stock market years ago, incrementally putting bits of his paycheck into shares he thought were undervalued. He also said the rallies on GameStop shares earlier this year following investment by Reddit users influenced his outlook.

The rest is history. For now, the investor said he does not want to sell his Dogecoin though he could if he wanted. Newsweek has contacted Robinhood, the trading platform the investor used, to confirm whether it is possible for users to withdraw cryptocurrency for traditional money. Instead, he will hold his investment for at least a year to avoid paying short-term capital gains tax and pay the cheaper long-term tax instead. Afterwards, he plans to take out around 10 percent while seeing what happens to the rest.

He also plans to start a YouTube channel, "The Dogecoin Millionaire," and sell merchandise via a website of the same name.

I'm just an individual whose investment in Dogecoin and posts on social media were based upon my own research and analysis. Despite some diehard supporters, analysts have voiced concern about the technology's price volatility. Glen Goodman, author of The Crypto Trader and an investment expert, told Newsweek : "Buying dogecoin is closer to gambling than to investing.

There is no way to work out a fair valuation for DOGE, particularly as very few people actually use it for real-world transactions. Probably when Elon Musk gets tired of tweeting about it. I saw many traders who'd enjoyed overnight success destroy their accounts when Bitcoin crashed in David Kimberley, an analyst for investing app Freetrade, told CNBC people are buying Dogecoin in the hope others will do the same, and not because it has any "meaningful value.

He said: "When everyone is doing this, the bubble eventually has to burst and you're going to be left short-changed if you don't get out in time. And it's almost impossible to say when that's going to happen.

After the token reached a record high, Dogecoin co-founder Billy Markus tweeted Thursday : "For real though guys keep some rationality when gambling on highly volatile assets like cryptocurrency. This article has been updated to include Glen Goodman's comments.

It has also been updated to clarify Newsweek could not verify the millionaire investor's claims. Read more. Newsweek magazine delivered to your door Unlimited access to Newsweek.

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Dogecoin (DOGE) price

Dogecoin was designed using the codebase of Litecoin and its development was aimed at providing an alternative to Bitcoin. Its most distinct feature, however, is its mascot. Dogecoin was just a little changed when developed as a fork of Litecoin. The most distinct change happened in the brand and it became a driving force behind its popularity. The fun image of the crypto helped this meme token to get attention in various social media.

Dogecoin Price Predictions 2021: Will DOGE Go Back Up? Will DOGE Rise Again?

Despite its satirical nature, some consider it a legitimate investment prospect. Dogecoin features the face of the Shiba Inu dog from the " Doge " meme as its logo and namesake. With the help of Reddit , the site became an instant hit. Dogecoin takes only 1 minute to confirm, while BTC takes 10 minutes. They wanted to create a peer-to-peer digital currency that could reach a broader demographic than Bitcoin. In addition, they wanted to distance it from the controversial history of other coins. Palmer is credited with making the idea a reality. At the time, he was a member of the Adobe Systems marketing department in Sydney. Markus reached out to Palmer after seeing the site, and started efforts to develop the currency.

Today's Cryptocurrency Prices by Market Cap

It has a market cap rank of 12 with a circulating supply of ,,, Dogecoin is traded on exchanges. Dogecoin DOGE is a blockchain-based peer-to-peer cryptocurrency which was created in December , as a tongue-in-cheek riposte to Bitcoin, and the crypto world generally. The idea for Dogecoin was conceived by Jackson Palmer, a marketer at Adobe Systems in Sydney, who tweeted a joke concept combining two of the internet's most talked-about topics: cryptocurrency and Doge. According to Markus, it took him about three hours to create Dogecoin.

Some Australians have made a fortune on Dogecoin, but they say it's not all about the money

This is due to the current popularity surrounding the joke cryptocurrency, especially on the media and social networks like Reddit and Twitter. It could be the next five or even ten years. Currently, the altcoin is rising in popularity, and there is a good chance that the price will be much higher in the next few years. Carol says few other coins are as valuable as DOGE at the moment. Jesse Cohen, Investing. He also believes that this kind of support will add legitimacy to the coin and boost investor confidence.

Confused About Dogecoin? Here’s How It (Doesn’t) Work.

And thanks in large part to Musk's tweets, Dogecoin has recently been enjoying a massive run-up of its own. But what exactly is Dogecoin? And will it flame out just like GME? In this article, we attempt to break down what Dogecoin is all about. Dogecoin pronounced dOj-coin is a cryptocurrency that was started as a joke in The video was a classic pump and dump. So, where is Dogecoin's price now? According to CoinGecko.

Dogecoin has gone up 8000% and DogeDay promises big returns for retail investors

Due to its low fees and fast speeds, Dogecoin is often used to move money and capital from one cryptocurrency exchange to another. Because Dogecoin has been around so long, it has a place in the crypto space for the long haul. Dogecoin price history extends back nearly a decade at this point, making it one of the oldest crypto altcoins out there. Things in appeared to be turning around, and Dogecoin and many other top crypto tokens started to see a resurgence.

Iconic 'Doge' meme NFT breaks record, selling for $4 million

Along with gamification, saw crypto native and non-crypto developers put a big emphasis on the digital worlds or metaverses users will inhabit. In the world of crypto, information is power. VeChain price prediction for February Trending Coins Cryptocurrency Price Predictions. Along the way, the coin has moved above several key resistance levels.

Dogecoin initially began as a parody in Dogecoin, a cryptocurrency which initially began as a parody coin in , is now one of the highest valued coins on the blockchain. In early January, a single Dogecoin was worth less than half a penny. Bitcoin, the most popular cryptocurrency, is deflationary — every four years the amount of coins put into circulation are halved along with its inflation rate, a process that will continue until all available coins are released. In other words, the number of total Bitcoins has a hard cap.

Concern over a tightening of US monetary policy by the Federal Reserve and possibly faster than expected interest rate rises sparked the sell off. The market was also spooked by Russia's central bank last week proposing a ban on cryptos. So what happens next? Meme coins are the volatile wing of the already highly volatile crypto sector, and doge is the mother of memes.