Should You Sell Dogecoin And Take Profit Or Hodl And Wait For ‘Moonshot?’ Meme Coin’s Creator Says This Is How He Would Play It


Dogecoin (CRYPTO: DOGE) co-creator Billy Markus has advised investors to trade in the meme cryptocurrency similar to how he plays casinos.

What Happened: Markus took to Twitter to say that Dogecoin investors should take enough profits that they don’t go insane when the cryptocurrency’s price falls, but should also have enough money for a “moonshot” to buy Dogecoin when its price surges.

The Dogecoin co-founder’s advice found support from the Dogecoin community.

See Also: EXCLUSIVE: Dogecoin Rise On Working With Brands, Supporting Doge Community, Elon Musk And More

Why It Matters: Markus’ comments assume significance as cryptocurrencies, including Dogecoin, are seeing high volatility in recent days. Over the last 30 days, the meme coin has fallen 13.4%. However, the Shiba Inu-themed cryptocurrency’s year-to-date gains stand at 3,607.4%, as of press time.

The price of Dogecoin and other major cryptocurrencies rebounded on Sunday evening amid speculation that e-commerce giant Inc. (NASDAQ:AMZN) is looking to accept apex cryptocurrency Bitcoin (CRYPTO: BTC) by the end of the year.

Markus had noted last week on Twitter that “nothing is guaranteed” when it comes to cryptocurrencies, citing examples of the historical prices of Ethereum (CRYPTO: ETH) to make his point.

Price Action: Dogecoin is up 7.6% during the last 24 hours, trading at $0.2093 at press time.

Read Next: Bitcoin, Dogecoin, NFTs Big Deal At Tokyo 2020: How Crypto-Savvy Olympians Can Feel Right At Home

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