Read this before investing in DOGECOIN | Is it overhyped?

As it’s quite evident, cryptocurrency, and for that matter, DOGECOIN has been the most trending topic since the last few days. With the SNL event just a little less than 8 hours away, it’s getting even more attention.

Now, the main question arises, on the speculations made on dogecoin. Some suggest, that dogecoin will simply blow up, and cross 1 dollar post the SNL event, and others suggest, that it’s just a BUBBLE, and is sure to burst.

A short disclaimer, I am no financial expert, hence the following are just my opinions on what I feel about dogecoin.

Keeping, the speculations, and the technology aspect aside, it’s quite evident from the layman’s point of view that, the whole pricing is based on people’s sentiments about dogecoin. Although, it’s quite possible that dogecoin becomes the currency of the future, but as of now it’s better to play it safe.

Dogecoin was just made for fun, and eventually, it grabbed attention, and now most predictions suggest that it’s destined to go up, even though there may be a few corrections in the path. Hence from a long term point of view, it sure can be a good investment for many. But that said, as we all know,

DON’T PUT ALL YOUR EGGS IN ONE BASKET

So, investing in amounts, that you can afford to lose, and investing wisely with caution is the approach that I take towards investing in dogecoin.

With that said, here are a few statements/tweets from Elon Musk himself, which can throw some light on my thoughts.

“Cryptocurrency is promising, but please invest with caution!”

Source: GIZMODO

“But it should be considered speculation at this point. Don’t go too far on the crypto speculation part.”

Source: GIZMODO

“Uh—well, like I said, don’t take too much risk on crypto!”

Source: GIZMODO

Do share your views about dogecoin in the comments below, let’s see what most people think on it.

Also, if you want to invest in Dogecoin, here are the best cryptocurrency exchanges, that you can consider using.

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