And so it appears Dogecoin continues to move full steam ahead. There's a lot going on that a fan of this Shiba Inu themed alt-coin would be excited about. I've noticed an explosion of new exchanges listing this coin of late, including some small players in this space that only offer a few coins. To think that Dogecoin is available next to BitCoin and Ethereum before many other coins on these platforms is crazy to think about.
Do I wish that I bought some DOGE a few months ago? Absolutely. Am I buying DOGE now? I haven't decided yet. I'm hesitant because of the tokenomics of the coin (or lack-there-of).
In the entertainment world, unless you live under a rock you have probably heard that Elon Musk, aka, the self-coined 'Dogefather' is hosting SNL this weekend, where, every Dogecoin HODL'er is assumedly waiting with bated breath to see what kind of hype their self-proclaimed celebrity leader will generate for the alt-coin. Will the run up to this weekend be the near-term peak for Doge? Or will it sail even higher based on the hype someone like Musk could generate with a few carefully crafted jokes this weekend? I for one am willing to take a bet that there will be at least one crypto-themed, and specifically Dogecoin inspired joke this weekend.
To cap it all off, as I was wandering around my crypto related accounts and apps this morning, I noticed this in the Gemini app:
That's right - the 3rd coin on the list, directly below Bitcoin and Ethereum, is Dogecoin. Firstly, this means a few things. Dogecoin is coming to Gemini (obviously) - I fully expect this to be live before this weekend's SNL airing. Secondly, Dogecoin being on Gemini provides a whole new level of validation for this coin. To be fair, I had never expected Dogecoin to be listed here, but now that it is, I expect the coin to receive attention from a whole new class of investors. Institutional investors. It's no secret that Gemini is one of the more security-minded exchanges out there, and that their specific set of tools and platform caters to investors who otherwise may not be interested in crypto. It will be very interesting to see if Dogecoin lands on other areas of Gemini as well, such as Gemini Earn. To date, I have never held any significant amount of Dogecoin, and I don't currently own any. I have always viewed DOGE as a risker / more volatile cryptocurrency. As has been proven the past few weeks, this coin lives and dies with social media hype.
Are you interested in buying some DOGE on Gemini? Feel free to sign up with my referral link if you are - we both receive $10 in BTC after you trade $100, even if its in DOGE.
Realize that investing has risks, and I am no financial advisor. These thoughts are my own. Do your own research before you invest in anything! I fully expect a turbulent ride for DOGE over the next few weeks. There will most likely be really good days, and there will probably be some really bad days. What are you looking forward to in the DOGE world? Is there anything you'd tell an uninitiated DOGE follower such as myself? Let me know in the comments, and thanks for stopping by!
UPDATE - No less than an hour after publishing this post, DOGE continues to break records. It is trading at 65 cents and beyond currently. Will it continue to go up short term? Will we see a correction? Maybe only Elon 'Dogefather' Musk knows...