Instead, it has been fueled by excitement on Twitter andReddit threads. When it comes to a token like dogecoin whose value is extremely volatile, don’t invest any money that you aren’t prepared to lose entirely. That’s significantly more than other cryptocurrencies like bitcoin and ether, which grew 95% and 369% over the same time period, respectively. A $1,000 bitcoin purchase would be worth $1,953.88 as of Wednesday, while ether would be worth $4,686.58.

During the summer of 2020, a viral TicToc video tried to hype up DOGE. The video author said if everyone deposited $25, Dogecoin would reach $1, making each $25 investment worth $10,000. Many crypto novices don’t understand the difference between the respective price increases of bitcoin and dogecoin.

Yes, Dogecoin looks like the hot new thing, but that doesn’t mean Dogecoin is going to survive for the long haul. The College Investor is an independent, advertising-supported financial media publisher, focusing on news, product reviews, and comparisons. There’s still a lot of news hype around Dogecoin, which is helping to drive up its price.

Innovative Industrial Properties, also known as IIP, is a medical cannabis-focused real estate investment trust . This means it acquires cultivation and processing facilities in the cannabis space with the purpose of leasing these assets out for a long period of time. IIP thrives off of long-term rental income and generates modest organic growth via inflationary-based annual rental increases and management fees. DOGE is for those that are willing to take a gamble that the hype will keep driving the price higher, at least in the short-term. But, at this point, we wouldn’t really call it an investment as it could come crashing back down any day. But we do have to make money to pay our team and keep this website running!

Kick Dogecoin to the curb and buy these superior stocks

When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you’ll be logged-in to this account. Once you’ve purchased Dogecoin, you’ll move it from the exchange to your wallet. Simply supply your wallet address to get your coins out of the exchange.

• The College Investor does not offer investment advisor or brokerage services, nor does it recommend buying or selling particular stocks, securities, or other investments.
• Another thing to consider is that Visa controls more than half of all credit card network purchase volume share in the U.S. — the U.S. is the No. 1 market for consumption in the world.
• When it comes to a token like dogecoin whose value is extremely volatile, don’t invest any money that you aren’t prepared to lose entirely.
• Cryptocurrency — With this option, you trade cryptocurrency that you own with another crypto trader who owns DOGE.
• A wallet allows you to store your crypto securely and get it off of an exchange.

Higher GDP means more spending, and more payments to process will grow Visa’s top and bottom line. Instead, investors dropped out of the Dogecoin hype, selling their holdings and leading the price of a single dogecoin to drop, hurting the overall value. Musk has tweeted his support for the coin again, again, and again. And as long as he keeps doing so, people are likely to keep buying it. But while following social media hype can be a smart short-term trading strategy, it doesn’t necessarily mean that DOGE will be a successful coin over the long-term. But, given that the coin doesn’t seem to have any practical use, it’s hard to envision it having a lasting future.

This joke-inspired digital currency isn’t worth your hard-earned money — but these superior stocks are.

Those who want to invest in different digital coins should assess where they stand with other personal finance and investing goals to determine if they have some extra money to put into a risky asset. Of course, Weiss is a supporter of investing in cryptocurrencies and dogecoin, and recommends that all investors hold some digital coins, even if it’s just a small slice of one’s portfolio. He also cautioned first-time cryptocurrency buyers from diving right into dogecoin without having invested in any other coins.

He started tweeting about Dogecoin at the end of last year and hasn’t stopped. Instead of putting your money to work into a literal joke of an asset with no true staying power, I’d suggest ditching Dogecoin and buying into the following three stocks right now. Over the long run, investing in the stock market has been one of the most-effective ways of accomplishing this feat. Zadikoff recently told CNBC he doesn’t expect the hype around Dogecoin to last too much longer, which is why he hasn’t bought into the cryptocurrency yet. There’s no doubt that Dogecoin has a serious amount of hype around it right now. The cryptocurrency has risen somewhere around 11,000% since the beginning of 2021, according to MarketWatch, and that’s a jump no one can ignore.

Although the company no longer reports its average yield on invested assets, I wouldn’t be surprised if it received a complete payback on its investments in seven years or less. And, investors shouldn’t get into dogecoin just to turn a profit in a short time. “While it has gained incredible traction lately as well as celebrity endorsements, including Mark Cuban and Snoop Dogg, just like any other crypto, it’s extremely volatile. If you’re planning on investing in it, you should be ready to stomach wild swings,” according to Yahoo! Finance. Yahoo! Finance suggests you should only invest if you’re willing to deal with a volatile market that doesn’t really have stability.

You can learn more about him on the About Page, or on his personal site RobertFarrington.com. At The College Investor, we want to help you navigate your finances. To do this, many or all of the products featured here may be from our partners. Any investing information provided on this page is for educational purposes only. The College Investor does not offer investment advisor or brokerage services, nor does it recommend buying or selling particular stocks, securities, or other investments. He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.

Dogecoin is blowing up. Invest with caution

It was below $0.01 in January 2021, when it started its massive rise. The latest rally has come in the lead-up to Tesla CEO Elon Musk hosting NBC’s “Saturday Night Live” this weekend. Musk has long praised the digital token to his 52 million Twitter followers, and some speculate that a mention of dogecoin on national television could spark even more demand. Sean Williams owns shares of Kirkland Lake Gold Ltd. and Mastercard. The Motley Fool owns shares of and recommends Bitcoin, Innovative Industrial Properties, Mastercard, and Visa. Second, there are company-specific reasons it’ll head higher.

“Just so you’re not making decisions every time there’s a fluctuation in price, which at this point happens every few days.” “Never invest anything you aren’t willing to lose,” said Ben Weiss, co-founder and CEO of CoinFlip, one of the largest bitcoin ATM companies in the U.S. Cryptocurrency — With this option, you trade cryptocurrency that you own with another crypto trader who owns DOGE. Fees are typically lower when you go this route, often coming in at less than 1%. However, direct trading can be a bit more complex and may be intimidating for beginners.

First, the price of gold looks as if it’ll be buoyed or head higher in the years to come. A combination of historically low lending rates, ongoing quantitative easing measures, a ballooning money supply, and the prospect of higher inflation, are all favorable for the lustrous yellow metal. It’s easy for gold stocks to thrive when the primary asset they produce and sell nets more revenue per ounce.

More On Cryptocurrency

Unlike some other cryptocurrencies, there’s no cap on Dogecoin. For more information and a complete list of our advertising partners, please check out our full Advertising Disclosure. TheCollegeInvestor.com strives to keep its information accurate and up to date.

Crypto wallets typically integrate into browsers or mobile apps. Wallets also come with a password which you’ll want to keep in a safe place and not forget. Hardware wallets, which cost between $70-$100, are also an option.

“You see the power in social media to move people to do something en masse,” Zadikoff says of dogecoin. “This is the flash-in-a-pan thing that people are getting behind right now.” As of May 5, 2021, IIP owned 69 properties spread across 18 legalized states. All 6.2 million square feet of this rentable space was fully leased, with a weighted-average lease length of 16.7 years.

Financial experts generally advise that people looking to invest in cryptocurrencies allocate just a small amount of their portfolio. The U.K.’s Financial Conduct Authority has issued a similar warning. At the same time, Mark Cuban, owner of the Dallas Mavericks basketball team, made several posts in support of dogecoin.

TheCollegeInvestor.com has an advertising relationship with some or all of the offers included on this page, which may impact how, where, and in what order products and services may appear. The College Investor does not include all companies or offers available in the marketplace. And our partners https://cryptolisting.org/ can never pay us to guarantee favorable reviews . “Yes, you can make a quick buck if you time it right, but timing the market is a terrible thing to try to do. It does not work.” If you bought dogecoin at the beginning of the year you’ve enjoyed massive gains over the past four months.

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Unfortunately, Dogecoin isn’t as widely available as other coins such as Bitcoin, Litecoin, or Ethereum. Traders may be disappointed to find that many popular cryptocurrency exchanges such as Coinbase and BlockFi don’t currently support DOGE. If it did, DOGE would have had a market cap worth more than Bitcoin.

Innovative Industrial also benefits from its sale-leaseback program. With marijuana entirely illegal at the federal level, some banks are unwilling to offer basic banking services to multistate operators. It proves to be a win-win, with the multistate operator receiving much-needed cash and IIP netting a long-term what is defipie tenant. Even amid the record rally, experts caution investors from jumping into dogecoin just to make money. Cryptocurrencies are highly volatile, meaning that the current streak could reverse at any point. A few exchanges do offer Dogecoin, though, such as Uphold, Webull, Robinhood, Kraken, and Crypto.com.