Already a few days ago on June 1st Coinbase announced that DOGE will become tradable on their exchanges today. The announcement - of course - led to an euphoric jump in prices of nearly 50% from around 0.3$ to nearly 0.45$.
I honestly don't know what I should think about it. Not only about Coinbase's DOGE listing but about DOGE at all (and about it's DOGEfather..). The whole hype around the memecoin feels like the archetype for shitcoins: mint a crypto, build a community and cash out.
But in my opinion that's not what crypto is meant for. Of course it is nice to make a buck on the side with cypto but what is much more interesting to me are the innovation and actual use cases. From this perspectives assets like Ethereum, Polkadot, Polygon or Algorand seem to be a much better investment to me which build on actual value not only on hype.
Also I'm quite sceptical about the influence of one mans tweets especially on Bitcoin and DOGE. Just don't listen to him! Do your own research, find projects in which you see potential and let diamond hands and a strategy rule FUD and all that market noise.
What do you think about DOGE? I would love to hear your thoughts in the comments.
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PS: I’m not a financial advisor. DO YOUR OWN RESEARCH before investing your money and never invest money you cannot afford losing!