regarding DOGE9 Feb 2021 12:17
Hi all, I'm a long term holder of crypto so thought I'd comment on the DOGE situation to anyone who's unsure.
By all means Dogecoin is a meme coin, basically it started as a joke and then started getting pumped. It has actually progressed and could be used as it has faster transactions than Bitcoin however it's very unlikely it'll be adopted.
My portfolio is made up of around 30% crypto (increased holding this year from 20%) and I do actually hold a small figure in DOGE.
The only reason I have some DOGE is purely for it being a pump and dump coin. It's constantly getting ramped by Elon, Snoop Dogg, Gene Simmonds to name a few... It has nothing to do with it being a valid crypto asset, purely for something to make some profit on - it's a bit of fun during these dark times, that's all.
To anyone considering buying DOGE what I'll say is personally I would only buy a small amount to enjoy the ride - I definitely would not put any large sum into it as it's so so risky but a small % of your portfolio would be fine. It could dump at any moment. A small amount is fun, and it is being ramped up (i've already made about 1,500% uplift on it) but save the majority of your hard earnt money for serious crypto projects - would hate to see people lose money on it.