Dogecoin to the moon! You must have heard about this phrase a lot of times. As its trending on the internet and social media platforms. Dogecoin might be the only coin that is loved by so many people after Bitcoin.
Now if you want to know more about dogecoin I have already written an article about it you could check it here.
Read About Dogecoin: Dogecoin To The Moon …🚀🚀🚀
This article mainly discusses why you should not invest in dogecoin.
As you may know, Dogecoin raised by 22000 %+ this year, even when I am writing this article the prices are coming up. If you have read the above article you know why this is happening, it’s mainly because of Elon Musk, SpaceX, and other factors involved.
A Random DogeCoin Fact:
Dogecoin creator sold all his coins in 2015 to buy a Honda Civic, DOGE is now bigger than Honda
In this article, I am going to tell you why you should not invest in dogecoin.
1. It’s A meme coin
Dogecoin is a meme coin. It was created for a purpose of fun people don’t take this coin seriously or type of serious investment. They saw this coin as a lottery ticket or a cryptocurrency trading for a fun.
2. Dogecoin is Highly Manipulative
The price of the dogecoin is highly manipulative many people just pump up the price for fun and suddenly the price crashes so it’s not a stable coin you may lose your money or you may get a lot of profit. At this point, you might know that the price of Dogecoin is mainly Influences by what Elon musk is Tweeting and what the internet is talking about
3. A single wallet Control
It is believed that a single wallet holds about 27% of all the dogecoins which are in circulation. And other 20 wallets hold more than half of those Dogecoins in circulation. What If these wallet holders decided to sell all of their Holdings at once? Pirce will cash to the ground!
Do You still want to buy Dogecoins?
Also Read: How To Buy Bitcoin in India?
Closing Words: These are all three reasons you should consider if you are thinking to buy Dogecoin. If you are looking for a stable and serious investment in crypto then you should not buy dogecoin unless and until you are looking for a higher risk and high-profit cryptocurrency[Like a lottery ticket].
Share this article on all your social media platforms and let me know how many days do we have?