Shall I HODL DOGE?

[Suzane007]

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.

[passwordnow]

If your plan includes selling bitcoin just for Dogecoin, that's not a good idea IMHO. You should keep bitcoin as much as you can because it's much better than Dogecoin. You see that dogecoin is pumping for some reasons but it's not gonna outperform bitcoin. Just you see right now bitcoin hits $24k again.
And you will regret it in the future when you can't purchase bitcoin anymore because you'll say that it's too expensive to buy. It's the most HODLED coin. But you can still buy Dogecoin if you want and just use your other altcoins for buying it but don't sacrifice bitcoin.

[Mealea]

Selling your bitcoin because of doge is totally a bad idea to me, there is no way doge coin will be able to give you the kind of profit that bitcoin will give to you in the future, everyone is trying to have a little of bitcoin as part of portfolio but you are trying to sell this buy doge, don't try it mate, doge will remain doge irrespective of the news around it now.

[Ryker1]

Well, this is my advice, if you want to listen to this, --then it's good for you.
That is right, Dogecoin has the potential to boom in the future but it does not mean that it is better to trade your bitcoin to dogecoin which is bitcoin has a better opportunity to gain profit than Dogecoin. Bitcoin has a fixed supply while Dogecoin is an unknown number of supplies due to the continuation of mining on it, perhaps this could be the reason why Dogecoin did not surpass other altcoins such as XRP or BCH, because of the supply that keeps producing. But if your question is good to HODL, yes it is.

[Yaunfitda]

The problem with Doge is that there are no development from behind, the only reason why it has existed till now is that it is a prime mover in crypto, become a meme coin, have it moments during bull run. And then gamblers love them as alternative like LTC, specially that ETH and BTC's fees are increasing.

Hard to give financial advise here, but If I'm in your shoes, I will dump it long time ago and switch to BTC or LTC. Goodluck in your decision.

[pixie85]

I think that Doge is better than LTC if that's what you're asking.

For me it's simple. If you have BTC, play around with any altcoin you like. It's your money.

If you don't have BTC, get BTC first before you go into any altcoins.

I prefer DOGE over XRP, BSV and many other coins but it's always better to have bitcoin.

[jademaxsuy]

Doge is one good old coin and as time pass by it gets stronger especially in the utilization of the coin in the gambling activities due to its market price which is low compare to other currency. This is what makes doge coin a unique coin. You can hold Doge coin and can earn on it by making a short term hold. I am not really a fan of long term hold in altcoins. Bitcoin still the best in long term hold.

[DarkDays]

DOGE is not that bad of a coin to hold on to. I think if you have the guts you should keep holding to it as with this bull run you can't predict when other Alts will start moving. There will be a time for them, but that will depend on the market and when the bull run ends.

Right now, I'd recommend you looking into Alts and secure yourself a good variety of them as their turn is yet to come.

[Dutchyyy]

DOGE is a coin from the past.  I can't imagine any significant news around DOGE, which will lead to a price jump either.

I don't find any reason to hold DOGE.

[zonefloor]

doge is not currently a cryptocurrency to invest in. Even those who launched Doge are not making any progress right now. However, you can use this for currency transfers. Other than that, do not leave btc and do not invest in doge.

[JeffBrad12]

DOGE has no future and the development of doge coin already discontinue. I don't even think if it's a good idea to convert your native coin like bitcoin or litecoin into the doge coin and that sounds  very bad idea dude.
You should never do this and it's only 500 doge coin. Why do you bet your money for the coin that you didn't know whether it will be pumped or not?
It's very similar to you are betting your life.

[Sled]

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.

That is because nobody knows what will happen next today. Everything has run into predictions and wild guesses. The same thing that you might get in here.

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 don't mind holding it for many years, then that won't be a problem. But if you want assurance that this faucet thing (DOGE coin) will never lose its value, better to convert it into Bitcoin or Ethereum equivalent then it gives you no worries in the following days.

[Fatunad]

Its up to you but if you do try to look towards its history then you would really find that it isnt really worth to hold something like this but somehow this coin is already an old
one unlike any other alts in the market but basing up on acceptance and usability then it do stays low and i cant really see for it  to be that serious and looking into its total
supply then its really hard for it to believe that it will really be having some massive movements but well its your choice but if i on your shoes then i would rather choose other
coins which mostly been on the top spots of the market.There are more worth coins to be choose on rather than DOGE.When i do hear it out then one thing comes to my mind
is on which this coins is commonly or mainly used on playing gambling.

[X-ray]

doge is not currently a cryptocurrency to invest in. Even those who launched Doge are not making any progress right now. However, you can use this for currency transfers. Other than that, do not leave btc and do not invest in doge.

People are still using it to bet into the pump that could happen anytime and this is the main aim for those who are still betting into the doge coin.
I do agree about that's the worst thing that i have ever seen to see the digital gold for meme coin. He must re-consider it again. He should not take that decision.
It's totally non sense thing.

[sulendra12]

I used to hold DOGE for low fee and quick transaction and it used to be a great hold for long term investment, if it had just moved 5 satoshis then all the holders were having a great day. But, nowadays I feel like Dogecoin is losing their place for an old coin and again IT IS JUST MY OPINION. I treat it as a meme coin for that matter.

[sheenshane]

Here is my insight about Dogecoin if you are planning to hold this coin.

• Dogecoin has too many supplies and it is mineable (127.5Billion as of now), which means unlimited supplies
• Good for payment due to less fee but not for holding
• Very community dependent
• its a joke coin that gained popularity, but not by the usage of this coin

Probably you can use this for payment purposes, as I heard most gambling companies already using this coin.  But upon holding, I will oppose your idea and if you wanted to swap your Litecoin and Bitcoin for Dogecoin, that's not a good idea IMO.

[maxreish]

You made a good timing converting it to dogecoin. As it urges up to 20% right now speculating it to pump more in upcoming weeks. Though I am planning to hold dogecoin too before but it changed my mind after focusing to the main altcoins like eth and xrp. But I am very open to hold and diversify my coins and buying some ltc and doge. Oh trx are also good for holding it has good value than doge.

[asriloni]

Forget doge and keep your bitcoin and litecoin. Both will be the best bet for the future. Doge has no reason to be owned by you.
high inflation with unlimited supply. Doge coin is not having active development progress. The only way for doge to be resurrected again through the crosschain ether-doge but it seems like such project already failed.
People are using it as an alternative way to send small tx to the others

[xSkylarx]

Yes, it's one of the original cryptocurrencies with bitcoin but IMO it's not that good if you're after is profit. There are other altcoins worth to hodl that can give you huge return. Doge's price doesn't move that much that it only pumps when you don't even expect it to.

[Sujoris]

DOGE is a useless coin, don't holdit. Better yet buy one of the newer coins being launched these days with the bull run, you stand to make more money that way.
In a way the defi trend pulled crypto out of the cryptowinter so your best bet is the defi world. Not some BS crap dogecoin.