Dogecoin - a joke or a way to make money?

[bonyaserg]

For me personally, all crypto coins created are a real business project with great potential for the development of new technologies. And such a coin as DogeCoin is also a good business project with great prospects for the future. So I think Dogecoin will be in great demand in the cryptocurrency market in the near future.

[Abiky]

With the involvement of Elon Musk and of course probably funding the development of it I am really sure that the Dogecoin shouldn't be taken lightly and jokely today, as we can see it sustain to remain its price on around $0.1 or something and it's not common to some meme coins that sustain this kind of price unlike other projects that dumps after pumping.

Just because Elon Musk is into Dogecoin, doesn't mean the coin should be taken seriously. There are many factors we need to consider because making such assumptions. Without active development, innovation, and real use cases for the mainstream world, Dogecoin won't be going anywhere. To my surprise, the Dogecoin Foundation released a roadmap for the project a while ago. There are plans to make DOGE a PoS cryptocurrency with the help of Vitalik Buterin, so if it does materialize, then the "meme" cryptocurrency will no longer be a joke. Everything will depend on how far the community is willing to let Dogecoin grow.

No matter if it turns into a serious cryptocurrency or it remains as a speculative asset, there's always the opportunity for profit. You'd just have to take advantage of Dogecoin's price volatility in order to make as much money from it as possible. Dogecoin is a very old cryptocurrency, so it's likely it'll last for a very long time. Just my thoughts

[qory]

I earned more than 100% when I invested in Doge, I don't think I will consider this as a joke since it really pumped way back this early year and with the pump of Elon and allowing to use this currency in Tesla was really give a Doge to become a good way to make money as well as a good investment hopefully they would develop it more to have more real life use rather than just buying Tesla merchandise.

[Ever-young]

When you hear about Meme what first comes into your mind?
I guess Jokes, prank, such is also applicable to that of Meme coins, and dogecoin is not exclusive. To me the coin ( dogecoin) is receiving over hype and that all it get, apart for the Elon shilling I see no real potential in dogecoin, to me dogecoin is a bubble that can burst at anytime.

[Abiky]

When you hear about Meme what first comes into your mind?
I guess Jokes, prank, such is also applicable to that of Meme coins, and dogecoin is not exclusive. To me the coin ( dogecoin) is receiving over hype and that all it get, apart for the Elon shilling I see no real potential in dogecoin, to me dogecoin is a bubble that can burst at anytime.

Exactly. Any coin that's associated with "memes" should not be taken as a serious investment. But most people don't care as they're only following the hype. Elon Musk only added fuel to the fire by shilling Dogecoin across social media platforms. It's this reason why we've seen other Dogecoin clones on the market with the hopes of attracting as much foolish investors as possible.

Believe me, Dogecoin is nothing more than "Fool's Gold". There are far better altcoins on the market with innovative features and real use cases in the mainstream world. I've said this many times already. Eventually, newcomers into crypto will become "rekt" as Dogecoin and its clones go all the way down the drain. Only those who invested into prominent cryptocurrencies like Bitcoin and/or Ethereum, will thrive in the long term. Crypto was never about the price, so as long as a coin is useful, nothing else matters. Just my opinion

[panduryk]

When you hear about Meme what first comes into your mind?
I guess Jokes, prank, such is also applicable to that of Meme coins, and dogecoin is not exclusive. To me the coin ( dogecoin) is receiving over hype and that all it get, apart for the Elon shilling I see no real potential in dogecoin, to me dogecoin is a bubble that can burst at anytime.

Exactly. Any coin that's associated with "memes" should not be taken as a serious investment. But most people don't care as they're only following the hype. Elon Musk only added fuel to the fire by shilling Dogecoin across social media platforms. It's this reason why we've seen other Dogecoin clones on the market with the hopes of attracting as much foolish investors as possible.

Believe me, Dogecoin is nothing more than "Fool's Gold". There are far better altcoins on the market with innovative features and real use cases in the mainstream world. I've said this many times already. Eventually, newcomers into crypto will become "rekt" as Dogecoin and its clones go all the way down the drain. Only those who invested into prominent cryptocurrencies like Bitcoin and/or Ethereum, will thrive in the long term. Crypto was never about the price, so as long as a coin is useful, nothing else matters. Just my opinion

Im agree with u, and im this coins also are so speculative, my friend buyin SHIba and Dog
And don't believe me, and it's so impossible to let them to know, that if crypto doesn't have any technology, they can't live so long on cryptocurrency market. Im never understand ppl who buy coins w/o any technology, its like buy air with some unrealistic effect

[DoublerHunter]

Exactly. Any coin that's associated with "memes" should not be taken as a serious investment. But most people don't care as they're only following the hype. Elon Musk only added fuel to the fire by shilling Dogecoin across social media platforms. It's this reason why we've seen other Dogecoin clones on the market with the hopes of attracting as much foolish investors as possible.

Believe me, Dogecoin is nothing more than "Fool's Gold". There are far better altcoins on the market with innovative features and real use cases in the mainstream world. I've said this many times already. Eventually, newcomers into crypto will become "rekt" as Dogecoin and its clones go all the way down the drain. Only those who invested into prominent cryptocurrencies like Bitcoin and/or Ethereum, will thrive in the long term. Crypto was never about the price, so as long as a coin is useful, nothing else matters. Just my opinion

I don't like dogecoin and all the meme hype.

But those who have made a lot of money from it, they just did a good job. They know what trends are and they're able to get on it so they're commendable for doing that.

You're right about the newbies, they're mostly the affected ones when they're too late when they've see it at the top.

^ They are those investors that want to gamble their money, win or lose they are willing to accept what will be the circumstances that may occur in the future. For me, investing in meme coins is pure gambling and you are not an investor in this way because you put money at high risk. Investing short-term is a must on this dogecoin because the possible the price could be drop again right after there is a correction.

[Oilacris]

Exactly. Any coin that's associated with "memes" should not be taken as a serious investment. But most people don't care as they're only following the hype. Elon Musk only added fuel to the fire by shilling Dogecoin across social media platforms. It's this reason why we've seen other Dogecoin clones on the market with the hopes of attracting as much foolish investors as possible.

Believe me, Dogecoin is nothing more than "Fool's Gold". There are far better altcoins on the market with innovative features and real use cases in the mainstream world. I've said this many times already. Eventually, newcomers into crypto will become "rekt" as Dogecoin and its clones go all the way down the drain. Only those who invested into prominent cryptocurrencies like Bitcoin and/or Ethereum, will thrive in the long term. Crypto was never about the price, so as long as a coin is useful, nothing else matters. Just my opinion

I don't like dogecoin and all the meme hype.

But those who have made a lot of money from it, they just did a good job. They know what trends are and they're able to get on it so they're commendable for doing that.

You're right about the newbies, they're mostly the affected ones when they're too late when they've see it at the top.

^ They are those investors that want to gamble their money, win or lose they are willing to accept what will be the circumstances that may occur in the future. For me, investing in meme coins is pure gambling and you are not an investor in this way because you put money at high risk. Investing short-term is a must on this dogecoin because the possible the price could be drop again right after there is a correction.

Whether dealing with meme coins or not it would be still a gamble because you dont know on what would be the future looks like for a particular coin.There's always a risks involved on any investment

even if you do deal with top coins in the market but doesnt significantly mean that you are on the safe side because price is always volatile which you could really commit some potential loss and theres

always a probability when it comes to that as long you do know on what you are doing then that what counts.

[Maslate]

always a probability when it comes to that as long you do know on what you are doing then that what counts.

If you know how to play the game then most likely you'll be profitable, however, you cannot make DOGE as a long-term investment as for sure you will only regret holding it for long. In fact, the current price does not look good anymore and as the market gets more bearish, for sure the investors will get tired of holding, and eventually, they'll panic and will result in a dump.

[harizen]

^ They are those investors that want to gamble their money, win or lose they are willing to accept what will be the circumstances that may occur in the future. For me, investing in meme coins is pure gambling and you are not an investor in this way because you put money at high risk. Investing short-term is a must on this dogecoin because the possible the price could be drop again right after there is a correction.

Actually, others may consider it as pure gambling but Dogecoin currently does have good market liquidity and daily volumes are good, making it one of the worthy coins to be traded on a short-term basis. As we all know, regardless of the coin status, traders like to play at some coins which are actively trading in a high volume. Of course, like our approach on other coins, trade it at your own risk and don't ever treat these meme coins as having a good use-case. It should be only for trading purposes.

[Kavelj22]

^ They are those investors that want to gamble their money, win or lose they are willing to accept what will be the circumstances that may occur in the future. For me, investing in meme coins is pure gambling and you are not an investor in this way because you put money at high risk. Investing short-term is a must on this dogecoin because the possible the price could be drop again right after there is a correction.

Actually, others may consider it as pure gambling but Dogecoin currently does have good market liquidity and daily volumes are good, making it one of the worthy coins to be traded on a short-term basis. As we all know, regardless of the coin status, traders like to play at some coins which are actively trading in a high volume. Of course, like our approach on other coins, trade it at your own risk and don't ever treat these meme coins as having a good use-case. It should be only for trading purposes.

Considering it only as an instrument for trading makes sense in my opinion. However, we can't deny that it can also be used for Hype and generate extra profits for whales only. The example of Elon Musk is the most obvious one in the case of Doge.
Note that some other Meme Coins were not manipulated in a standard way like we treat other coins in the same basket, but who knows when someone will take the advantage with one or many of them. Users actually are following other trends like NFTs and they are also leaded by Hype.

As mentioned in Op, Doge is a way in form of a joke designed to make money.

[VanityWallets2015]

I think it's a good way to make money as long as the coin have a price and the market capacity is still around 100 Million but below than that I don't think it will become a joke but I think it will be impossible for the Dogecoin to be left behind since Elon Musk constantly pumping and spamming it over his Twitter account and trying to use the Dogecoin to buy merchandise.

[CDC AP]

Dogecoin may created as a joke but after that, its potential was start increasing and with effort of doge team, it was able to archive good position in crypto market without hype. Lots of people was using doge for cheap fee since it created. I must say, dogecoin provided lots of opportunities for us and make new Millionaire! Even after end of hype, dogecoin still stable on its position. It might be dump due to lack of support and good management but still it can be considered as top coins

[ChrisPop]

As for technology it is obviously outranked by new blockchain solutions like ETH, SOL, AVAX, etc.
As a store-of-value is clearly outranked by Bitcoin.
Plus, the development on it is very little, non-existent or I am completely unaware of it.

So I'm pretty confident to say that Dogecoin is just another altcoin which still shows signs of life because it was between the first cryptos in the market >> value derived from pure speculation.

[mv1986]

As for technology it is obviously outranked by new blockchain solutions like ETH, SOL, AVAX, etc.
As a store-of-value is clearly outranked by Bitcoin.
Plus, the development on it is very little, non-existent or I am completely unaware of it.

So I'm pretty confident to say that Dogecoin is just another altcoin which still shows signs of life because it was between the first cryptos in the market >> value derived from pure speculation.

Yes it seems that development has literally stopped for Dogecoin. I remember Musk saying once that he would be willing to sit down with Dogecoin guys discussing potential future development, but no idea whether that might even be happening behind closed doors or not at all.

But to answer OPs question correctly, I guess the truth is yes, you can make money with Dogecoin either way. If it pumps (reason doesn't matter) and you own it, you are going to make money. If it dumps because it is crap, there is indeed an option to also make money. Just short it! There are several exchanges offering to short Dogecoin, but shorting is probably similarly risky as going long, especially if you apply leverage.

So maybe we can agree on an answer that goes like: Yes, it is probably a joke AND yes, it allows for ways to make money, too.

[lucates]

It all depends on the person. I don't know how promising the coin is as a long-term investment, but as a speculation tool it has proven to be a good tool.

Why meme coin has value? Because people think it has value. In doge coin I don't Know it's promising or not but many people think it has future. They are okay with dropping because they are love to buy at that prize again. There are many unsolicited advices around this coin but we alert and don't put anything you are afraid to lose.

[Distinctin]

I think it's a good way to make money as long as the coin have a price and the market capacity is still around 100 Million but below than that I don't think it will become a joke but I think it will be impossible for the Dogecoin to be left behind since Elon Musk constantly pumping and spamming it over his Twitter account and trying to use the Dogecoin to buy merchandise.

Well, DOGE started as a joke until it became more than just a mere joke because investing in this coins is really profitable but still that doesn't change the fact that this coin ain't suitable for long term holding, it's own volatility isn't the case why this particular coin isn't good for long term but because the whales itself including the famous Elon Musk.
Sure, dogecoin won't left behind because Elon Musk and other unknown whales are constantly manipulating the market to its own benefit, well I ain't saying that we shouldn't invest but I'm saying to invest only a little sum to avoid losses when the market suddenly dumps.

[Maslate]

I think it's a good way to make money as long as the coin have a price and the market capacity is still around 100 Million but below than that I don't think it will become a joke but I think it will be impossible for the Dogecoin to be left behind since Elon Musk constantly pumping and spamming it over his Twitter account and trying to use the Dogecoin to buy merchandise.

Well, DOGE started as a joke until it became more than just a mere joke because investing in this coins is really profitable but still that doesn't change the fact that this coin ain't suitable for long term holding, it's own volatility isn't the case why this particular coin isn't good for long term but because the whales itself including the famous Elon Musk.
Sure, dogecoin won't left behind because Elon Musk and other unknown whales are constantly manipulating the market to its own benefit, well I ain't saying that we shouldn't invest but I'm saying to invest only a little sum to avoid losses when the market suddenly dumps.

They can't stick with DOGE forever, if this coin will lose its hype, there's no reason for the whales to stay and keep manipulating it as there are plenty of coins in the market that the whales could have a higher chance of profitability.

[laredo7mm]

Everybody knows that Dogecoin was created as a joke, but now it is worth real money. Do you think it is real to earn on it or it's all a big bubble?

At first, it was a bubble but now it has a developer team and some names like vitalik and elon involved. So I think its development started again and more news and product will be released by the developer team. But do not be overconfident because anything can happen in crypto and another meme coin shiba inu is doing better than doge and they even announced their own metaverse. So watch the market carefully and then take entry.

[Abiky]

Yes it seems that development has literally stopped for Dogecoin. I remember Musk saying once that he would be willing to sit down with Dogecoin guys discussing potential future development, but no idea whether that might even be happening behind closed doors or not at all.

But to answer OPs question correctly, I guess the truth is yes, you can make money with Dogecoin either way. If it pumps (reason doesn't matter) and you own it, you are going to make money. If it dumps because it is crap, there is indeed an option to also make money. Just short it! There are several exchanges offering to short Dogecoin, but shorting is probably similarly risky as going long, especially if you apply leverage.

So maybe we can agree on an answer that goes like: Yes, it is probably a joke AND yes, it allows for ways to make money, too.

It looks like there will be a "revival" in the development of the Dogecoin project, as investors expressed their interest into it. The foundation published a roadmap which hinted Dogecoin's future transition from PoW to PoS. The Foundation even said it will rely on Vitalik Buterin as an advisor. So it seems that the so-called "joke" coin will be used seriously by everyday people in the future. Everything will depend on how far the community is willing to let DOGE grow.

No matter how Dogecoin's situation turns out to be in the long term, there's always an opportunity to make money from it. If you know how to handle Dogecoin's price volatility, then you'll be on a road towards financial success. Crypto was never about the money, so as long as Dogecoin brings "banking to the unbanked" nothing else matters. Just my thoughts