Dogecoin has been a famous cryptocurrency these days, with a whopping extreme high return of 972.56% in a month.

For instance, if you invested on Dogecoin for $1000, you could receive a profit for $9725 with just few clicks.

However, Dogecoin was invented as a parody of Bitcoin since 2013, which is the highest value of cryptocurrency at the moment, along with the needs from many other investors seeking for different types of cryptocurrency and the huge supports from well-known investors like Elon Musk, Mark Cuban, Andrei Jikh and many more, those factors combine to generate such a huge value and push an overloaded profit to Dogecoin. From there, it has officially become in the top five biggest cryptocurrency in the world and Elon Musk must proud of it following his tweets about Dogecoin in order to create an impact to the media.

Worth-mentioning, Gamestop and AMC were the hyped stocks, which were shouted out by Elon Musk on Twitter and also blown up to 3000% for Gamestop and 479% for AMC respectively according to Yahoo Finance from 6 months ago. Notwithstanding, those stocks were dropped significantly after a few days because the restrictions of transactions to Gamestop and AMC from Vladimir Tenev, as a CEO of one of the biggest investing brokers in America by the name of Robinhood. The reason of his actions was meant to prevent the extraordinary fluctuation from those two stocks to keep every investors safe and raise awareness of investing.

For example, if you have already invested for its peak price then suddenly it could drop the price down immediately and you might carry a huge lost for a while. 

Therefore, Dogecoin was recently dropped 18% since Elon mentioned about Dogecoin in “Saturday Night Live” show for his opening monologue and Elon was just telling a joke to gift some Dogecoin to his mom on Mother’s Day. Although, It could be plunging even more by the impact of media and may caused another mayhem to the cryptocurrency and trading markets in general.

“Be fearful when others are greedy“

Warren Buffett

 

By the legendary quotes of Warren Buffett, would you rather to buy with its lowest cost to return a high profit of a long term investment or wait until at its peak price to follow the trend of short term investment?

Investing in trading market is a very unstable investment since it depends on many factors and timings. Once you have sacrificed enough, you could take advantage of being a millionaire by just few clicks

*Not financial advices and only for entertaining purposes*