Dogecoin: People Differ on What Route It Will Take

By April 30, 2021Bitcoin Business
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Dogecoin has been all the rage as of late. While bitcoin has been sinking into oblivion, Dogecoin keeps getting attention and has recently hit a new all-time high. However, when something comes up, it usually winds up having to come down at some point, so when will that occur for what is now considered the fourth-largest cryptocurrency by market cap?

Dogecoin Has Caused Quite a Stir

Two young people have recently shared their thoughts about where the currency will go from here. They differ on whether it will continue to spike or drop, but they all agree that it is a fast-growing cryptocurrency that deserves the media attention it has been getting.

Kevin Lingard – a 23-year-old college student – is one of the people that feels most confident about Dogecoin at the time of writing. He originally purchased about $800 worth of the meme coin. It has since gone up, and his stash is now worth more than $50,000 at press time. He is quite confident that the asset is going to continue its meteoric rise from here.

In an interview, he states:

Honestly, I feel it will keep going up. I honestly see it hitting a dollar in the [near] future, even at the end of this year or next year.

If anything, he says that investing in cryptocurrency has taught how to be inhumanly patient, as waiting around for certain assets to make a move can be rather tedious and heart wrenching. He states:

You never know where a coin will go. Some days it will have bad days, so days it will be significantly [higher]. Like right now, Dogecoin is only at 23 cents and it was at 40 cents the other day, but just as easily as it shot up to 40 [cents], it could shoot up to 70 [cents] next week. You just never know. You just got to be patient and ride the wave.

A Little Less Power

Others are not so confident. Nahek Hussain is a 22-year-old graduate student who bought Dogecoin when it was priced at around 29 cents. While he thinks the currency may have a steady future, he was certain that after it hit a certain level, it would likely fall, and he turned out to be right. Thus, he sold his stash “just in time” so to speak and cashed in on the $18,000 profits he had made. He explains:

I had a feeling that… it would drop. I was going to reinvest again, but I just saw it constantly coming down… and then I just kept my profits, which was $18,000… I mean, if people are talking about it, it is bound to go up, and especially if it was trending on Twitter for like the last week, people are expecting something. People are not going to shy away from this.

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