Cryptocurrencies like Bitcoin and Ethereum may be the biggest players in the crypto space, but they’re also expensive. Back in mid-April when Bitcoin reached its peak, it cost around $65,000 per token. Ethereum cost just over $4,000 per token at its peak in mid-May.
Dogecoin’s record high, however, was just $0.68. With a price that low, it’s one of the most affordable investments out there. And if you’re on the fence about investing, it can be tempting to buy Dogecoin simply because it’s cheap.
That can be an incredibly risky move, though, because affordable investments aren’t always good investments. If you buy Dogecoin just because it’s cheaper than its competitors, you could still end up losing money.
While all cryptocurrencies are risky, Dogecoin is one of the most dangerous investments. Before you even consider buying, it’s important to think about how this investment may pan out over time.