And now some of that money has started moving into crypto. You could use Dogecoin as currency on Reddit and Twitter mainly as “tips to reward creativity and sharing of quality content,” according to Kryptomoney.com. The more the miners create, the less value each DOGE has, and the harder it is to push the price higher. Investing in Dogecoin is easy; anyone with some spare change and a Robinhood account can participate in the phenomenon. Join the conversation. Additionally, Romeo's battery-pack technology could also be applicable to adjacent markets such as storage, and management has stated its goal to move into these adjacent markets over time, as well. It’s super absurd. Its logo is a dog, that’s their friendly mascot which also makes them so much more likable among the social media crowd. As a young, newly public company with little existing revenue, a relatively low-margin hardware business, and a dependence on consistent technological superiority, Romeo is a high risk, high-reward stock. David Zeiler, Associate Editor for Money Morning at Money Map Press, has been a journalist for more than 35 years, including 18 spent at The Baltimore Sun. Robinhood will not give you access to your Dogecoin wallet. From recent history this appears it could be triggered by a single Elon Musk tweet. But trust me, you don't want to buy Dogecoin right now. Another issue with Dogecoin is that it was designed with no cap on the supply. Special Report: 5 Stocks Primed for Triple-Digit Gains. Dogecoin is a good investment, but you won't get a pretty high ROI. In 2019, Elon Musk stated that Dogecoin was his “favorite” cryptocurrency because they have “the best Coin.” @stoolpresidente @DareenGranelli @elonmusk DOGECOIN TO THE MOON!! Bitcoin Talk Forum – Dogecoin started off with an announcement on the BitcoinTalk forum. They borrowed a popular meme of the time of a Japanese Shibu Inu dog as the official Doge logo – another choice that reflected the casual nature of the project. var ados = ados || {}; In addition to great technology, Romeo also has some big-league partners in the form of BorgWarner (NYSE:BWA), a $12 billion Tier 1 global auto supplier, as well as Heritage Environmental Services, a global leader in battery and materials recycling. Cryptocurrencies came back into vogue. Although dogecoin is less popular than bitcoin and ether, many investors see it as a good investment, hence its rising price. Cumulative Growth of a $10,000 Investment in Stock Advisor, Forget Dogecoin, This Stock Is a Better Buy @themotleyfool #stocks $RMO $TSLA $IBM $BWA $ADBE $TWTR $DOGE, Why Romeo Power Missed Wall Street Estimates -- and Why It's a Warning for SPAC Investors, Why Romeo Power Stock Is Getting Zapped Today, Copyright, Trademark and Patent Information. Wealth Investment Tips: Why You Should Invest In Dogecoin. He even mined it for a short time. Thank you for subscribing! But should you buy Dogecoin? size: 550x425 - 550 x 425 */ The coin design was absurd.”. By Feb. 8 DOGE was back up to $0.08. Market data powered by FactSet and Web Financial Group. “The idea of Dogecoin being worth 8 cents is the same as GameStop being worth $325,” Markus told The Wall Street Journal. While the electric-battery industry is sure to be a competitive field, according to its merger presentation, Romeo has the leading technology as of today. The campaign managed a 96% pop in the DOGE price before petering out. The problem they're having, of course, is that no one is shorting Doge. Doge's only real use case is for online tipping. RE: Investing in Dogecoin. Other Reddit investors in several crypto-oriented forums (known as subreddits), mainly r/CryptoCurrency and r/SatoshiStreetBets, were inspired by what they saw. You also can day trade or swing trade cryptocurrency on your Robinhood account. Created in December 2013 by Billy … Investors with the stomach for cryptocurrencies should just keep it simple and buy Bitcoin. The next day he changed his bio to "retired CEO of Dogecoin.". Because... why not? In that case, a TikTok challenge aimed to get Dogecoin to $1. Newbie. Jackson Palmer, product manager with Adobe Inc. (NASDAQ: ADBE) and Billy Markus, a software developer at International Business Machines Corp. (NYSE: IBM) created Dogecoin in 2013 to satirize the early hype around cryptocurrencies. The surge temporarily launched Dogecoin into the list of Top 10 cryptocurrencies by market cap. Dogecoin Price History: Looking Back At 2018, 2019, 2020 And Beyond. You could be earning up to 9% in interest on crypto deposits! They started a thread called "Dogecoin is the next GME/Bitcoin" and the game was afoot. There’s perhaps no Reddit-fueled asset I’d avoid more rigorously than Dogecoin right now. You can buy and hold Dogecoin on Robinhood. It's an understandable question given that DOGE skyrocketed more than 900% in a little more than 24 hours Thursday and at its peak was up more than 1,400% since Jan. 1. So, where is Dogecoin's price now? Still, for those looking for somewhat risky, high-upside plays, instead of the dubious Dogecoin, I'd go for this relatively new electric vehicle (EV) stock that recently went public via a SPAC. He has worked as a writer, editor, and page designer at different times in his career. ados_load(); Last week, its value rose sharply thanks to the mass effort of stock market dabblers and social media users. Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer. Dogecoin is a risky investment that's subject to volatility, and it's not for everyone. The Best Cryptocurrencies to Watch in 2021, Just In: The 7 Best Stocks You've Never Heard Of. This being 2021, of course, Dogecoin soared over 10 times at one point, after Tesla CEO Elon Musk jokingly pushed Dogecoin on Twitter. He told Decrypt that it was a post on r/wallstreetbets, about a billboard promoting GameStop stock, that inspired him to buy his own. However, given the massive size of the commercial-vehicle market, the ongoing trends toward electrification, and backing from all-star partners with top-tier talent, Romeo has a decent chance to be one of those lottery tickets that may just pay off mightily in the future. So it’s the best evidence that Dogecoin is alive. Despite the fact that the price is not on its highest point, we should . However, there are several ways in which Romeo could experience significant upside in the years ahead. Essentially, Dogecoin is perfect fodder for the ongoing Reddit stocks rally. Since arriving at Money Morning in 2011, he has focused primarily on technology. site: MoneyMorning.com, Mark Cuban: I'd buy dogecoin over a lottery ticket – 'lottery tickets are worse than any investment' Published Fri, Feb 5 2021 10:54 AM EST Updated Fri, Feb 5 … They based it on Litecoin, itself a fork of Bitcoin. Dogecoin has seen an incredible journey from starting out as a fun concept to donating $100,000 to charities, to becoming an integral player in the WSB Reddit drive. Dave has a BA in English and Mass Communications from Loyola University Maryland. The logo for the coin is of the Shiba Inu dog, which is an online internet meme of itself, as I wrote for the Deseret News.. Protected by copyright of the United States and international treaties. The highest price ever paid for Dogecoin was … Invest in this cryptocurrency only if you have a high tolerance for risk.