Considered a joke when it was launched, Dogecoin has made a name for itself among other cryptocurrencies. While the price of cryptos is at its lowest, is it a good time to be interested in it?
In the media storm that BTC (Bitcoin) has experienced in recent months, which has seen its price drop by 57%, to finally rise slightly above $20,000, but without much repercussion, we have forgotten digital currencies. which are also part of memecoins. Dogecoin is one of them. If its price fluctuates like its big sister (which is normal for a volatile currency), Dogecoin seems not to have given up and could well be one of the cryptocurrencies to follow in the second half of 2022.
Summary:
Brief History of Dogecoin
Appeared after the BTC (born in 2008 and put on the market in 2009), the Dogecoin dates from 2013 and is part of the primary landscape of first generation digital currencies called memecoins (its name comes from a meme of 2010, depicting DOGE, a Shiba Inu ).
This crypto-currency had no other purpose, basically, than to federate a community of geeks who saw in digital currency a way to stand out from the traditional monetary system in which many people felt held hostage economically. , but no more. The Dogecoin should only be the representation of a popular protest which, in the end, was capitalized and is now listed on the stock exchange!
Should you invest in Dogecoin?
Born from the will of a community that supports it against all odds, it has been able to remain present since its creation in 2013 and its mere notoriety places it just below the reference currency BTC, in the same way as Ethereum. The Dogecoin therefore plays on advertising relayed by its community, which gives it great value. Its solidity stems from this notoriety and guarantees it a place of choice in the top 5 of the best crypto-currencies.
Perhaps the only interest of Dogecoin is its longevity.
Dogecoin, like BTC or Ether, is one of the few crypto-currencies that can be redeemed around the world and which allows its owners to buy services of all kinds (Elon Musk is one of its greatest defenders). If his opponents find him unattractive, his community supports him and there is no doubt that his price benefits from the bull run (return of the upward trend).
While Dogecoin is still interesting to trade, let’s not forget that it lost 90% of its value in 2022 and it will take a rise of more than 100% for investors to take advantage of it, but anything is possible. with cybercurrencies!
Where to trade Dogecoin and other crypto-assets?
To invest in Dogecoin or other cryptocurrencies , using CFDs for the most assertive traders, it is enough to choose the right trading site in 2022 . AvaTrade seems to be the one that best matches the profile of cryptocurrency investors since it allows you to learn about digital currencies and their prices in real time. It also gives the possibility of using CFDs in order to avoid the opening of wallets for day trading to traders who wish to take advantage of market volatility. This platform also allows you to buy crypto-currencies directly and very easily without going through a classic coin trade.
Thus, the beginner trader can trade very volatile digital currencies and therefore with very interesting CFDs such as BTCUSD, Ripple, Ether , Dogecoin. All these currencies have proven themselves and, despite a fall in prices in 2022, the promise of a bull run seems to be on the horizon: BTC has been rising for a few days, Dogecoin, meanwhile, is now trading at 0.068 euros.
Investing in crypto-currencies remains one of the most popular investments for traders even though the prices of almost all crypto-currencies have fallen. This downtrend should soon end and see a rise in the most emblematic currencies, including the Dogecoin token.
