What Happened to the Dogecoin Price Today?
- The meme has come to life. Once created as a “joke” cryptocurrency based on the viral Doge meme, Dogecoin (CCC:DOGE) has emerged as the market’s hottest cryptocurrency — and indeed, hottest asset.
- Back at the end of last year, Dogecoin was trading for less than a penny.
- Today, the Dogecoin price sits above 35 cents, representing a whopping 35X gain in about four months.
Why Dogecoin Is Surging
- The power of the people. Retail traders realized the power of the people during the GameStop (NYSE:GME) short-squeeze. They realized that, when banded together, retail traders can be a powerful buying force and materially impact the price of financial assets.
- Retail traders have been trying to apply this collective buying force to Dogecoin for months now. Tweets about Dogecoin going “to the moon” have been flying around Twitter (NYSE:TWTR) since December.
- But it wasn’t until the Coinbase (NASDAQ:COIN) IPO and a few celebrity endorsements from Mark Cuban, Guy Fieri and others, that the “long Dogecoin” movement gained a critical mass and the Dogecoin price skyrocketed.
Will Dogecoin Reach $1?
- Congratulations to all the folks who have made big money on buying Dogecoin. It took guts. And it paid off. I couldn’t be happier for people who made money in this cryptocurrency.
- But the reality is that there is nothing technologically unique about Dogecoin in the crypto space. That doesn’t mean that it’s going to zero. Dogecoin may have staying power. But its $50 billion market cap already prices in a lot of this staying power.
- If you’re looking to play the “Crypto Craze,” take a look at Basic Attention Token (CCC:BAT-USD) instead.
- Basic Attention Token is the cryptocurrency underlying the new web browser Brave that could one day usurp Google Chrome as the world’s most used browser.
- Brave is a Web 3.0 browser that acts, looks and feels like a sleeker version of Chrome. The big difference is that, on Brave, consumers are paid to watch ads in Basic Attention Tokens.
- We believe this paradigm shift toward users taking back control of their data — and being rewarded for sharing it with advertisers — represents the future of the internet.
- Brave is at the forefront of defining this future. If it’s successful, Basic Attention Token will be one of the most valuable cryptocurrencies one day.
Dogecoin Price Forecast
- I’m an honest guy. And honestly, I have no idea where the Dogecoin price will trend over the next few weeks, months or years. I don’t think anyone really does.
- But I am confident that Basic Attention Token has significant long-term upside potential as the Brave web browser redefines the internet.
- If you’re looking to play the Crypto Craze, consider passing on Dogecoin and instead buying Basic Attention Token today.
Cryptocurrencies represent the future of the world. More specifically, the blockchain technology upon which cryptocurrencies are built will redefine everything, and allow humans to create trusted, decentralized systems that are cheaper, faster and more secure than today’s centralized systems.
But you have to be careful with how you play the Blockchain Revolution.
Blockchain and cryptocurrencies today are very much like where the internet was back in the late 1990s. At that time, there were thousands of internet startups hoping to turn into the next big thing.
While the internet did end up taking over the world, most of those internet startups went bankrupt, and all the rewards of the Internet Revolution were horded by a few tech giants like Facebook (NASDAQ:FB), Amazon (NASDAQ:AMZN) and Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG).
Today, there are over 4,000 cryptocurrencies in the world. Not all 4,000 will make it. Most will flop. And all the rewards of the Cryptocurrency Revolution will be horded by a dozen or so coins.
In other words, to be a successful crypto investor, you have to be selective.
Luckily, we can do that for you. In our exclusive research platform — The Daily 10X Stock Report, where we highlight a potential 10X stock pick every single trading day — we also highlight our favorite cryptocurrencies which we feel are the cream of the crop in this overcrowded yet very promising industry.
Click here to gain access to that service, and find out the best cryptocurrencies to buy today.
On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.
By uncovering early investments in hypergrowth industries, Luke Lango puts you on the ground-floor of world-changing megatrends. It’s how his Daily 10X Report has averaged up to a ridiculous 100% return across all recommendations since launching last May. Click here to see how he does it.