Currently, the Crypto market is doing well as we can see the bullish sentiments however it is not confirmed that we are going to enter a bull market but undoubtedly the market situation looks good. Bitcoin and Ethereum are two solid coins on the market that has done pretty well and there has been a significant price moment recently. Some other coins have also done well but it looks like the situation has improved significantly for some meme coins as well and today in this post I am going to talk about doge.
It is a meme coin and I am sharing a chart below for the last seven days in which you can see a significant price appreciation for the doge coin. I would say that it is one of the leading coins in the world of meme coins where we do not have any use case but still, people are making the bet on this project and this is what works in favour of this project. The price is currently almost fifteen cents which I think is pretty good.
This chart indicates how the price has moved upside in the last seven days and whoever did buy some doge coins before must be happy. Generally in the Crypto market when Bulldog starts then we can see all the projects going up by multiple X and this is what makes people earn a lot from this market which is not less than any opportunity.
I usually stay away from investing in the main coin and I did not invest in this coin also but this type of price appreciation can be considered a good sign that if there is a correction one can take the entry. Again we need to analyse the risk potential and invest accordingly but I think a small amount can be invested considering the high-risk investment. The amount should be low so that even if you lose then also nothing to worry about but if you win then the profit booking can be a good amount.
In my opinion, now is not the right time to book the profit because it is expected that Bitcoin will grow even more specifically after the halving event. If Bitcoin price appreciates then for sure the entire market will be impacted positively and that will be the right time to book some profit because the prices will be on the higher side and one can make more money out of the same investment.
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