Both coins now have a market cap of over $ 31 billion and are alternating between 10th and 11th on the CoinGeckos ranking page at the time of posting. The price of bitcoin, the first cryptocurrency, has nearly doubled since early 2021, while the value of coin ether has increased fivefold. Fearing a possible devaluation of the US dollar, investors are now turning to the crypto space, which is leading to positive shifts in the overall dynamics of the market.

Bitcoin, ether and dogecoin have all hit record highs this year and are seen by crypto fans as the future of money for the world. To understand if Dogecoin is a safe investment, you need to understand why the cryptocurrency was created in the first place, starting with Bitcoin. I believe that Ethereum is more than just a digital currency (like bitcoin), but instead provides a broader platform for enabling cryptographic “applications” that will add much more value in the long run.

If you are confident about the long term future of Crypto and any particular currency, this latest fix may be the right time to buy even more Bitcoin, Dogecoin, Ethereum, or whatever digital currency / platform you believe in. Many strategists, including some of the big banks like JPMorgan, predict that Bitcoin's price could surpass $ 100,000 per coin in the next 1-3 years and push its market capitalization above stocks like Apple. It might be possible that it could continue to rally while bitcoin is in a bull market, but this is a risky opportunity.

Like many cryptocurrencies, it tends to fluctuate in price volatility. In the current market, Dogecoin miners are wreaking havoc as speculation and meme culture have pushed its price up to unexplained levels.

It is almost impossible to give fundamental value to Dogecoin, with its endless and rapidly growing supply, compared to limited cryptocurrencies like Bitcoin, which are much more decentralized. With an endless supply of Dogecoin and a low level of decentralization, it is difficult to attribute real fundamental value to a cryptocurrency.

According to cryptocurrency market data site CoinGecko, Dogecoin’s total market cap is now over $40 billion, adding more than $20 billion in the past 24 hours. Dogecoin recovered last week, hitting 10 cents per coin for the first time on Wednesday.

DOGE prices did indeed rally in April and May, when on May 8 they surged more than 1.100% to an all-time high of $ 0.731, pushing it to the fourth spot in the cryptocurrency market capitalization rankings. On New Years Day, DOGE was only $ 0.004 and was largely ignored by most cryptocurrency traders.

DOGE fired its first small shot in February following the first of a series of later Elon pumps. DOGE has fallen out of this epic pomp since May in relation to both Bitcoin and the USD. Among competing dog coins Dogecoin and Shiba Inu, the former lost 2.67% in price, while the latter gained 0.78%.

Shiba Inu has significantly increased the value of its cryptocurrency, surpassing the main digital tokens of the day as the market surged 4.38%. Shiba Inu (SHIB) shares rose 50.07% on Tuesday, October 5, 2021, more than the top 10 cryptocurrencies and more than competitor Dogecoin (DOGE). It doesn't take long to move the Shiba Inu market - earlier this month, its price only rose because Elon Musk tweeted a photo of his puppy.

Musk revealed that he does not have Shiba Inu coins, but he does have Bitcoin, Ethereum, and Dogecoin. But Liu said that the Shiba Inu coin is of interest to young investors in cryptocurrency, so it is a good long-term investment.

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