19 April 2021
After hitting the all-time high mark of ₹39 DOGECOIN went down to almost ₹20. It has seen many roller coaster rides after touching the ₹39 mark. Yesterday the coin was almost ₹24 and now it is above ₹30. With this surge in price, DOGE is now the 7th largest cryptocurrency. Seeing its great movement on a daily basis it is difficult to predict its future but you can earn great returns with the correct investment strategy.
If you are a long term investor who is planning to invest for more than 2 months then maybe you need not worry much but don't invest all your sum at once. Invest in small parts to decrease the risk and maximise the price. If you invest in small parts then you have a chance to invest and gain even if marked goes down the next day. for example, If you have bought 10 DOGE coin for ₹30 and the next day the market goes down and DOGE is now available at ₹20 then you can buy 10 more DOGE coin for ₹200. So, now you have reduced your average buy price to ₹25 and now when doge will again hit ₹30 mark, you will be in profit.
If you are a daily trader or one who sells coin every few days then it is advised to buy when the market is low or when there is more chance of growth in that coin. So, Wait for the right opportunity to buy the coin. The market will always give you another chance. The only thing is you should have the patience to catch that chance.
So, Don't be in hurry in buying the coin. Take the time and wait for the right opportunity.
Currently, the DOGE market is very volatile it can either go up or can go down to almost 20% difference. Price may decrease in the next few days so take the risk wisely.
GOOD LUCK.
