What are your thoughts on Dogecoin?

greenblood said:

I see that it's been getting a lot of press. It's priced at around 5 cents right now. I was thinking about putting $500-$1000 into it, and letting it ride. I know Cuban is big on it. Even if it only hits $1, I'd make a nice little chunk of change.

I have about 1M coins...snagged them at less than .002 on the hopes that the memeness would pay off. I *should* sell, but will hold for a while to see if it continues to pop. It's a very attractive asset to the young crowd as it's trendy and easy to buy in without having to own a fractional coin. Musk's obsession with it doesn't hurt either.

That being said, I don't see it hitting $1. I think the realistic price would be $0.25 or so over the next couple years. It's designed to serve as a true currency (no hard limit on number of coins to be mined), so it won't have the scarcity that Bitcoin has.