Shall I HODL DOGE?

[dikistutmazsabri]

I don't understand why you are so obsessed with Dogecoin. It is nothing but a dogecoin pump / dump coin to me. Dogecoin is a better coin to buy and sell in the short term, not to be held. Dogecoin itself has proven this recently. You shouldn't even think about holding the dogecoin in the long run, while you don't even know what the dogecoin will be. In my opinion, it may lose its popularity in the future. this could mean that holding will not do you any good. Because Doge is a coin without technology, infrastructure, and a strong team.

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[Lantind]

to doge i prefer to trade fast. because for me doge is risky, it's better to buy at a low price and when you get a profit immediately sell and then transfer assets to potential coins. it is better than risking the doge as we do not know how the future potential of the doge

True, always taking profits early is much better than getting losses suddenly,
because the Dogecoin supply is so large that it is really risky if it is maintained for a long time.

[infer]

I have some DOGE, received from faucets. Not much just around 500.

After the increase in the transaction fees of BTC, I have thought of converting my BTC and LTC to DOGE for the transactions and keep them as DOGE. On the second thought, I thought of converting my DOGE to LTC and keep.

I have gone through some articles about DOGE's future price and I got some 50-50 opinions. I discussed with my friend and he suggested me to hold till mid-2021, I can't say why till mid-2021.

It's true that many sites have started accepting DOGE, thus it is getting popular so there is a chance that the price may increase. Still, my knowledge says there are certain loopholes like there is no upper limit in mining DOGE and it is still much easier to mine compared to others. In short, the demand & cost curve is a bit of a failure here. Though one can't say what might happen after 20 years.

Here I want some expert advice on this. Whether it is a good idea to convert and hold or keep my DOGE reserve constant.

You shouldn't keep doge coins, that's my advice. Doge coin is not suitable for long-term investments. Doge coin is suitable only for short and profitable trades, so you can make a profit.
Not sure what in the future doge coin will develop well, everything is very ambiguous and nothing really confirms. Doge developers they don't paint the future for it. So keeping them for a long time carries a very high risk.

[Lantind]

You shouldn't keep doge coins, that's my advice. Doge coin is not suitable for long-term investments. Doge coin is suitable only for short and profitable trades, so you can make a profit.
Not sure what in the future doge coin will develop well, everything is very ambiguous and nothing really confirms. Doge developers they don't paint the future for it. So keeping them for a long time carries a very high risk.

True, Dogecoin is not a suitable coin to hold in the long run even though a big pump has been seen in Dogecoin at this point in time, which still carries a huge risk if we store it for the long term, even though the better solution is just to trade it in the short term, because it is more profitable than storing it for a long time.

[Cryptmuster]

True, Dogecoin is not a suitable coin to hold in the long run even though a big pump has been seen in Dogecoin at this point in time, which still carries a huge risk if we store it for the long term, even though the better solution is just to trade it in the short term, because it is more profitable than storing it for a long time.

Doge is very risky, I would not even take it for trading, and even more so I would not take it on hold. It is very susceptible to the influence of individuals, and at any moment its price may collapse. There are more reliable coins for the hold. And Doge is a manipulation that will soon pass and be forgotten again until the next pump. But if you buy it now, you can become a holder for a long time without the opportunity to get a profit.

[Questat]

DOGE has been inconsistent lately, there's a sudden increase of price now, let's take this opportunity to dump and take profit, we might not see DOGE rise again as the market is slowly going to a bearish mode, this is just my opinion but I'm seeing a pattern that we are going that way.

Bitcoin has not recovered yet, we should be wary with that as altcoins will not succeed without bitcoin.
And as with the altcoins recovery now, this looks like bitcoin's dominance will drop below 40%.

[Digital_Lord]

I have some DOGE, received from faucets. Not much just around 500.

After the increase in the transaction fees of BTC, I have thought of converting my BTC and LTC to DOGE for the transactions and keep them as DOGE. On the second thought, I thought of converting my DOGE to LTC and keep.

I have gone through some articles about DOGE's future price and I got some 50-50 opinions. I discussed with my friend and he suggested me to hold till mid-2021, I can't say why till mid-2021.

It's true that many sites have started accepting DOGE, thus it is getting popular so there is a chance that the price may increase. Still, my knowledge says there are certain loopholes like there is no upper limit in mining DOGE and it is still much easier to mine compared to others. In short, the demand & cost curve is a bit of a failure here. Though one can't say what might happen after 20 years.

Here I want some expert advice on this. Whether it is a good idea to convert and hold or keep my DOGE reserve constant.

If you are still holding 500 DogeCoins. You have 100x your money. If you have sold in the past, you have lost your profit. If I had 500 DogeCoins in December 2020, I have been still holding it.

[Miaallen]

Holding at the time of putting up this post was the right choice to make but considering what DOGE has been from its initial stage, to continue holding now will not be profitable like buying cheap to sell at higher prices.

[olabiyijummy02]

Bitcoin is a far more stable investment option compared to Dogecoin, and BTC total supply is capped at 21million, meaning it has a scarcity factor and is also already the most valuable cryptocurrency out there. Dogecoin on the ither hand has no maximum cap on its supply and is subject to inflation just like the tradiyional fiat.
I'd simply advice you to hold a good protein of both coins.

[richcorner100]

For current price which the price is already too high and rally multiple times from the beginning of this year, its will be high risk to hold it. I think DOGE only safe for short trade and always use stop loss because the price can be dump anytime. No one crypto that always going up, the trend of market is always change from bullish and then move to bearish.

[cabron]

For current price which the price is already too high and rally multiple times from the beginning of this year, its will be high risk to hold it. I think DOGE only safe for short trade and always use stop loss because the price can be dump anytime. No one crypto that always going up, the trend of market is always change from bullish and then move to bearish.

There could be a positive outcome when holding Dogecoin because Elon is working with Dogecoin developers. There are not many details about this but the information was just from his tweet which many doge hodlers will take as good news. Its not true that there is nothing in crypto that continues to go up, look at BTC and ETH.

Once we see changes to doge like the block rewards or something, a jump of price is going to take place and more investors come.

[Lantind]

Doge is very risky, I would not even take it for trading, and even more so I would not take it on hold. It is very susceptible to the influence of individuals, and at any moment its price may collapse. There are more reliable coins for the hold. And Doge is a manipulation that will soon pass and be forgotten again until the next pump. But if you buy it now, you can become a holder for a long time without the opportunity to get a profit.

I'm also not the kind of person who likes to hold Dogecoin for a long time, because I only take temporary moments to get some profits that I'll then forget about, because there are lots of other good coins to think about for long-term gains.

[MadeMen]

I have some DOGE, received from faucets. Not much just around 500.

After the increase in the transaction fees of BTC, I have thought of converting my BTC and LTC to DOGE for the transactions and keep them as DOGE. On the second thought, I thought of converting my DOGE to LTC and keep.

Dogecoin has a relatively lower transaction cost than bitcoin and several other altcoin, and it would be cool to transfer your coin using dogecoin. Keeping your coin in dogecoin is fine, if you're holding for a short while, a month or two is cool, as dogecoin is still pumping hard and you can make a quick bucks from the value appreciation. But I won't advise you hold dogecoin for long term, bitcoin and ethereum should suffice for long term hold.

[iTradeChips]

As far as I am concerned, you just have to feel like a gut feel. You don't need advise from us, since I know you will not be listening to us lot. Follow your instinct, I should say. Do not rely on other people for your investment decisions. Especially if you are trying to find advise for free. Some people here pay consultant to get their advises or make their trading decisions into reality. You want free then you will get the most obvious answer coming from people to give free advise. Follow them or follow you.

[Peer-Sil]

I have some DOGE, received from faucets. Not much just around 500.

After the increase in the transaction fees of BTC, I have thought of converting my BTC and LTC to DOGE for the transactions and keep them as DOGE. On the second thought, I thought of converting my DOGE to LTC and keep.

Dogecoin has a relatively lower transaction cost than bitcoin and several other altcoin, and it would be cool to transfer your coin using dogecoin. Keeping your coin in dogecoin is fine, if you're holding for a short while, a month or two is cool, as dogecoin is still pumping hard and you can make a quick bucks from the value appreciation. But I won't advise you hold dogecoin for long term, bitcoin and ethereum should suffice for long term hold.

Elon commented on the technical characteristics on Doge itself. Doge is not yet perfect, these are his requirements

Musk: Ideally, Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.




https://twitter.com/elonmusk/status/1393738154889338884?s=21

[tarable]

Elon commented on the technical characteristics on Doge itself. Doge is not yet perfect, these are his requirements

Musk: Ideally, Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.



https://twitter.com/elonmusk/status/1393738154889338884?s=21

Then can Dogecoin be able to do such technicalities so that Dogecoin can be in the perfect category? because currently there are still many people who like Dogecoin in terms of looking for temporary profits.

[ILuckyGuyI]

I think that it could be still a good choice to HODL some Dogecoin. To be honest, Dogecoin is really close to a shitcoin to me but it is not totally like that. Elon Musk is still doing the best he can to pump the price. It's $0.52 right now and I'm pretty sure that we will see it reaching $1 at least. It can happen even in this year.

[Pamadar]

I think that it could be still a good choice to HODL some Dogecoin. To be honest, Dogecoin is really close to a shitcoin to me but it is not totally like that. Elon Musk is still doing the best he can to pump the price. It's $0.52 right now and I'm pretty sure that we will see it reaching $1 at least. It can happen even in this year.

Elon Musk still playing with this coin so you can still buy and hold at your own risk.

Investment inside this venue of business relies with how you can analyze the situations, it's tough to make a call if you are unsure
with how you will react once the market move against you, though most of those who can overcome fears are able to gained decently.

[MFahad]

I think that it could be still a good choice to HODL some Dogecoin. To be honest, Dogecoin is really close to a shitcoin to me but it is not totally like that. Elon Musk is still doing the best he can to pump the price. It's $0.52 right now and I'm pretty sure that we will see it reaching $1 at least. It can happen even in this year.

Elon Musk still playing with this coin so you can still buy and hold at your own risk.

Investment inside this venue of business relies with how you can analyze the situations, it's tough to make a call if you are unsure
with how you will react once the market move against you, though most of those who can overcome fears are able to gained decently.

I am not holding doge right now but i am interest to see what Elon Musk will tweet next about doge coin. He has quit bitcoin for the time being but does that mean he will be accepting doge coin instead ?

[tomisinade]

I am kind of scared of doge these days with the way everything is going…. Since jeff backed out from bitcoin and we have been seeing the downtrend of bitcoin… so here lies the problem i have with doge , if jeff keeping hyping it and accept it as payment then that would be good news for doge… but if jeff creates his own token den that might be a big issue for doge coin but what do i know