Quote from: Blitzboy on June 08, 2023, 12:36:35 PM

Quote from: bakasabo on June 08, 2023, 10:17:00 AM

Quote from: josephsonand on June 08, 2023, 05:26:16 AM

Quote from: Sebas.tian on June 08, 2023, 03:26:05 AM

Dogecoin will be the best you can invest $40,000 in this season and have something favourable to achieve that will make you a billionaire in the society, because the price of dogecoin is too low in the market which will help you to purchase a huge amount of dogecoin in the market and hold. I will advise you to apply long term hodling in your cryptocurrency investment because many investors that used this strategies to became a billionaire in the society always paid attention to the market price. I believe, if you can hold Dogecoin like 3 years, I think it will definitely bring you a good results at the end of your investment.

I invest $40,000 in Dogecoin, wait for 3 years, and boom, I'm a billionaire? Sounds like the plot of a Hollywood movie. But hey, if it's that easy, why stop at $40,000? Let's all throw our life savings into Dogecoin and become trillionaires. What could possibly go wrong?

Holding dogecoin for 3 years, that is what could go wrong. I dont think that people would hold this memecoin for such a long period and hope that they would turn into millionaires. Most probably they would be $100k worth token holders only. Dogecoin value must rise 25 times to turn $40k into a million. Its market cap is so huge, that with 25 multiplicator, they would surpass Ethereum and Tether market cap. That seems to be never going to happen. Dogecoin itself is nothing. There is no chance they gonna be pumped so much.

Your skepticism is noted, and to be quite frank, appreciated. In this world of volatile digital assets, we cannot afford to be swayed by hearsay or get-rich-quick illusions. As such, your critical evaluation of Dogecoin's potential for exponential growth is both sobering and valuable.

Dogecoin's intrinsic value is indeed questionable, as it was initially developed as a lighthearted jest. Nonetheless, let us not forget that the market is driven by collective sentiment and unpredictability. Although the probability is slim, it is not impossible for Dogecoin to witness a surge in value, even if it is temporary.

However, I agree that betting life savings on such a volatile and speculative asset is akin to playing Russian Roulette with one's financial stability. The prudent approach would be diversified investment and rigorous risk management.

I think it is more or less clear with dogecoin - its price cant grow much. Why? Because there is nothing much to develop in that blockchain. I mean what could dogecoins devs add, that will trigger price to make x25? NFTs on dogecoin ? Well, that could make price grow, but that wont be enough to turn $40k into $1kk. And even is something global and unbelievable happens, like dogecoin replacing US dollar, even then it wont make x25. Dogecoin already made a huge price growth and amazed everyone. Now it is hard to repeat that.