Is dogecoin worth investing in | How does investing in dogecoin work

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Is Dogecoin (DOGE) Worth the Risk Thursday?

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please refer to our Risk Disclosure Statement Who is investing in dogecoin Considering the rise of meme assets on the market, Dogecoin's suppressed performance raised some concerns, but at the same time, there is no need to worry or bet on the reversal of the asset simply because of a lack of momentum.

Dogecoin review

As of September 2022, about 132.7 billion Dogecoin were in existence, though new coins are created literally every minute. And unlike Bitcoin — which has a hard cap on its total issuance – Dogecoin has no cap on the number of coins that can be mined. Literally, an unlimited number of coins can be created. However, the annual issuance of new coins is limited to 5 billion and that issuance can proceed indefinitely. Banks to open tiny ‘pods’ in car parks as high street branches close Vidhu is a Personal Finance Writer at RateCity. She has been writing about finance topics from car loans and home loans to superannuation and cryptocurrencies for over five years. Before moving into finance, Vidhu went to law school where she studied human rights law. She has a Bachelor of Law degree and has previously worked in asset finance for Clifford Chance for more than four years. During her time at Clifford Chance, she worked in the India, London and Hong Kong offices on everything from aviation to vessel finance. In her spare time you’ll find her reading the Australian Financial Review or spending time with her dog Coco.

What is the best way to buy Dogecoin?

There is also cryptocurrency risk besides volatility, as no regulatory infrastructure is in place for cryptocurrencies. Nothing exists yet to back you up like the Federal Deposit Insurance Corporation does for U.S. bank customers. That means investors are entirely responsible for the security of any cryptocurrency spot holdings. The SEC has noted that with cryptocurrencies, there is "substantially less investor protection than in our traditional securities markets, with correspondingly greater opportunities for fraud and manipulation." LinkedIn Dogecoin surpassed a $1 billion market capitalization for the first time in the crypto bull run of 2017 to 2018.

Dogecoin investing

At the time of writing, the DOGE price is hovering around $0.1405. This represents a decrease of nearly 80% from May’s all-time highs, although the bearish momentum does seem to be slowing slightly. Notably, Dogecoin’s price does seem to be respecting the support level around $0.1285, where the price was rejected in early December. In addition to this, the DOGE price also appears to be forming a falling wedge pattern, which tends to develop before a bullish breakout. Can You Mine Dogecoin? It’s been a crazy year in the land of cryptocurrency—large upswings, more businesses accepting crypto to pay for everyday purchases, and oh yeah—the wacky world that is NFTs. And if this new thing called Dogecoin is any clue, things are only going to get more eye-catching.