Rich by Coin

Dogecoin’s price will probably spike sharply upward at some point. On most normal days, its holders lose money. Don’t fall for the trap.

Dogecoin(CRYPTO: DOGE) has the uncanny ability to capture investors’ attention for years on end. It is, after all, the original meme coin and all that entails. But don’t let that any renewed hype fool you. There’s a serious mistake that many investors are vulnerable to with Dogecoin right now: Buying it.

It’s obvious that every asset you plan to hold for the long term needs some mechanism for accruing value. That mechanism might be scarcity, or a killer business model, or a monopoly of some kind. Dogecoin doesn’t have any of those qualities. One modest problem is that its total supply outstanding is perpetually increasing.