Mr.Zion
New member
If you are wondering how much you can make from Dogecoin investment, this information will provide the solution.
So, let's say you buy 1000 Dogecoins at the current price; let's say $0.050 to make the math easy. So 1000 x $0.50 = $50. So you will spend $50 for 1000 coins at the current price.
Now, the amount of Doge you own doesn't change when the price changes. You will always have 1000 Dogecoins until you buy or sell some.
You can imagine Dogecoins are like an equivalent to the US nickel, except Doge is digital compared to the nickle being physical (aka fiat). So if you had 1000 nickles and the government came out tomorrow and said that nickles are actually worth $0.10 tomorrow, it doesn't change the amount of nickles you own; just their value. The same goes for Dogecoins
So let's say that Dogecoin goes to $1. You have the 1000 Dogecoins. So 1000 x $1 = $1000 - $50 (original investment) = $950 profit.
To be perfectly honest it will probably take a long time to get to a dollar. Dogecoin is different from other cryptocurrencies due to it having an unlimited supply. Which is a good thing for it actually can function more like fiat currency. Anyways, in order for a Dogecoin to be worth a dollar, the market value must equal what there is in supply. So there are more than 100 billion Dogecoins. That means that if there is 100 billion dollars in the Dogecoin market every coin would be worth $1. But the doge market is only like 10 billion dollars. Hence why the price is so low.
That being said the future of Doge looks very bullish with some analysts thinking sustainable growth until at least 2025.
Just remember Dogecoin fluctuates A LOT! Like if Elon Musk tweets, the price increase 10-15% over a 12 hour period. There are also some big whales that sell off large amounts at times too causing drops 10-20%. Which panicks paper hand people into selling causing a bigger drop. So we have seen it be up 15% in the morning and down 30% at night. But if you look at the long term graphs it is holding and trending up.
I am not a financial advisor, but remember what Warren Buffet said "Unless you can watch your stock holding decline by 50% without becoming panic-stricken, you should not be in the stock market.” This is especially true for Doge!
So, let's say you buy 1000 Dogecoins at the current price; let's say $0.050 to make the math easy. So 1000 x $0.50 = $50. So you will spend $50 for 1000 coins at the current price.
Now, the amount of Doge you own doesn't change when the price changes. You will always have 1000 Dogecoins until you buy or sell some.
You can imagine Dogecoins are like an equivalent to the US nickel, except Doge is digital compared to the nickle being physical (aka fiat). So if you had 1000 nickles and the government came out tomorrow and said that nickles are actually worth $0.10 tomorrow, it doesn't change the amount of nickles you own; just their value. The same goes for Dogecoins
So let's say that Dogecoin goes to $1. You have the 1000 Dogecoins. So 1000 x $1 = $1000 - $50 (original investment) = $950 profit.
To be perfectly honest it will probably take a long time to get to a dollar. Dogecoin is different from other cryptocurrencies due to it having an unlimited supply. Which is a good thing for it actually can function more like fiat currency. Anyways, in order for a Dogecoin to be worth a dollar, the market value must equal what there is in supply. So there are more than 100 billion Dogecoins. That means that if there is 100 billion dollars in the Dogecoin market every coin would be worth $1. But the doge market is only like 10 billion dollars. Hence why the price is so low.
That being said the future of Doge looks very bullish with some analysts thinking sustainable growth until at least 2025.
Just remember Dogecoin fluctuates A LOT! Like if Elon Musk tweets, the price increase 10-15% over a 12 hour period. There are also some big whales that sell off large amounts at times too causing drops 10-20%. Which panicks paper hand people into selling causing a bigger drop. So we have seen it be up 15% in the morning and down 30% at night. But if you look at the long term graphs it is holding and trending up.
I am not a financial advisor, but remember what Warren Buffet said "Unless you can watch your stock holding decline by 50% without becoming panic-stricken, you should not be in the stock market.” This is especially true for Doge!
