Shiba Inu gained popularity in early 2021 after growing its price by more than 5 million percent. In the course of that year, Shiba Inu also made it to the list of top 10 most valuable cryptocurrencies, flipped Dogecoin (albeit momentarily), welcomed an unprecedented community of supporters, and expanded its ecosystem.

While this accumulation momentum may have died down in early 2022, Shiba Inu still is one of the most popular and one of the most sought-after meme coins.

But how can you buy Shiba Inu today? Importantly, is it worth buying Shiba Inu today?

We will be answering both these questions in this Shiba Inu investing guide. We will also tell you the 3 best places to buy Shiba Inu and everything else you need to know before buying Shiba Inu.

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Read on.

How To Buy Shiba Inu (SHIB) – Quick Guide

Want to jump straight to buying the second most valuable meme coin? Follow this three-step guide that teaches you how to buy Shiba Inu via eToro with as little as $10.

• Step 1: Open an eToro Account – Open the official eToro website and create a crypto trader account here. The account creation process is smooth and its approval relatively fast.
• Step 2: Deposit Funds – Deposit cash into the eToro trading account. You need a minimum of $10 to start buying Shiba Inu via eToro. The supported payment methods include PayPal, credit cards, debit cards, bank wire transfers, and eWallets (Skrill, Neteller).
• Step 3: Search for Shiba Inu – go to the search bar on the eToro dashboard and type in SHIB or Shiba Inu from the dropdown menu.
• Step 4: Buy Shiba Inu (SHIB) – Finally, indicate the number of SHIB tokens you wish to purchase and hit the “Open Trade” button.

That’s it! By following these easy steps, you can invest in Shiba Inu in less than 5 minutes.

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Where To Buy Shiba Inu (SHIB)

Shiba Inu is one of the most popular meme coins. Throughout 2021 and for the better part of 2022 it has continued attracting massive investor interest and growing its community of followers. All these have helped draw recognition to the coin and ensured that it is listed with all the most popular exchanges.

To help you get started with buying Shiba Inu, we will be introducing you to the three best places to buy Shiba Inu today:

1. eToro  – Overall Best Place to buy Shiba Inu (SHIB)

eToro ranks highly on our list of top exchanges to buy Shiba Inu because of its innovative and resource-rich trading platform. It also makes it here because of its affordable deposit and trading minimums as well as low and transparent trading fees. We also feature it among the best crypto trading platforms because of its appeal to both beginner and expert investors.

It all starts with a straightforward client onboarding process and a relatively fast account approval process. It then extends to affordable deposit and trade minimums of $10, which can be deposited via such popular payment methods as PayPal, credit cards, debit cards, bank wire transfers, and eWallets.

eToro’s trading platform is also highly intuitive and beginner-friendly. But it also integrates a host of trading, research, and risk management tools that appeal to expert investors. Further, eToro is a relatively liquid exchange and maintains some of the fastest order execution speeds.

You even have the option of trading Shiba Inu CFDs or buying actual Shiba Inu tokens (depending on your country of residence) and all these make eToro appealing to Shiba Inu day traders.

Deposits into eToro are free. Plus, when buying Shiba Inu on the platform, you will only have to part with the fixed 1% transaction fee.

Other factors that convince us why eToro is one of the top exchanges to buy Shiba Inu are its added perks. The crypto exchange, for instance, lets you interact with its social and copy trading platforms that let both expert and novice Shiba Inu investors earn passively. Further, eToro provides crypto investors with a free custodial vault that stores 90% of its holdings offline as well as a non-custodial mobile wallet app.

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2. Crypto.com – Best Place to buy Shiba Inu (SHIB) For High Instant Deposit Limits

Crypto.com is a relatively new but massively popular crypto exchange. It is also deeply liquid as it often processes crypto trades worth more than $2 Billion daily. But this isn’t the primary reason why we featured it on our list of top exchanges to buy Shiba Inu.

We include it here because of its support for instantaneous and relatively higher deposit minimums. For instance, while you can deposit a maximum of $40,000 daily on eToro via cards, Carypto.com lets you deposit up to $50,000 daily, instantly.

Crypto.com also makes it to our list of best exchanges to buy Shiba Inu because of its beginner friendliness. This is evidenced by its easily navigable user interface, a straightforward client onboarding process, and the fact that the exchange maintains affordable deposit and trade minimums – of $20.

The supported payment methods on the fast-growing crypto exchange are credit card, debit card, bank transfer, SEPA, Transfer Wise, and even PayPal. Most of these deposit methods are instantaneous and crypto.com doesn’t charge deposit processing fees. You only have to pay the transaction fee charged by your payment service provider.

The only other fees you get to interact with when buying Shiba Inu on Crypto.com are the competitive and heavily discounted trading fees. Here, you pay a fixed maker/taker fee of between 0.4% and 0.10%. And if you stake 5000 CRO (Cronos) tokens on the platform, you get to enjoy a 10% discount on the transaction fees, bringing this cost of trading down to between 0.36% and 0.09%.

In addition to being beginner-friendly, the Crypto.com trading platform also appeals to expert crypto investors. It achieves this by maintaining some of the fastest order execution speeds. It also integrates a diverse range of premium trading, analysis, and risk management tools. And they all, plus its deep liquidity, make Crypto.com one of the best trading platforms for active traders.

Other reasons why we feature Crypto.com among the top exchanges to buy Shiba Inu include its innovativeness. It, for instance, recently launched the crypto staking and lending programs that let Shiba Inu investors earn passive incomes on staked SHIB tokens. They also get to borrow funds against up to 50% of their staked/saved tokens at highly competitive interest rates and flexible repayment periods – up to 12 months.

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3. Binance – Best Place to Invest Shiba Inu (SHIB) For Low Trading Fees

Binance is one of the most liquid crypto exchanges in the world – processing crypto trades worth more than $40 Billion daily. It also maintains some of the lowest crypto trading fees. For instance, when buying Shiba Inu on the Binance exchange, you will only pay a maker/taker fee of between 0.1% and 0.04% – based on your 30-day trading volume.

Moreover, if you pay the transaction fee with BNB coins, you get to enjoy a 25% discount on the fees, bringing them further down to between 0.075% and 0.03%.

These explain why Binance features prominently on our list of the best places to buy Shiba Inu in 2022.

But low fees and deep liquidity aren’t the only reason why Binance ranks this high on the list of top exchanges to buy Shiba Inu. Others include the fact that it supports a wide range of crypto assets, which increases the number of Shiba Inu crypto pairs available for trading on the platform.

Additionally, Binance maintains an easily navigable user interface. This platform then integrates the widest range of premium trading, analysis, and risk management tools. It also maintains some of the fastest crypto order execution speeds. Not forgetting that you can start trading Shiba Inu with as little as $1 on Binance.

The low trading minimums, intuitive interface, and low trading fees make it one of the most beginner-friendly crypto exchanges. The fast order execution speeds, a wide range of Shiba Inu trading pairs, low fees, and advanced trading tools make it appealing to active traders, especially scalpers.

Like all other best places to buy Shiba Inu, Binance maintains a smooth and straightforward client onboarding process. It also provides its platform users with free crypto custody services by promising to hold their Shiba Inu tokens in offline vaults on their behalf. And if you are looking for non-custodial crypto wallet services, Binance provides you with a free mobile wallet app – the Trust Wallet.

Binance also stands out with its outsized crypto-insurance scheme. It has established a $1 Billion private insurance fund, referred to as SAFU (Secure Asset Fund for Users), to compensate crypto investors on its platform in case of breaches that lead to loss of investment.

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What Is Shiba Inu (SHIB)?

Shiba Inu is a meme coin that launched in August 2020, named after the all-popular internet meme of a Shiba Inu dog. It even features the head of the dog breed as its symbol.

The dog-themed joke currency was created by an anonymous entity referred to pseudonymously as “Ryoshi.” It was inspired by the success of the dog-themed meme coin – Dogecoin.

Shiba Inu is even referred to as the “Dogecoin killer” because when it started, its website indicated that the meme coin’s primary goal was dethroning DOGE as the lead meme coin. It achieved this – momentarily – at the height of the early 2021 crypto market rally.

After the mid-2021 crypto market crash, its goals changed. It shifted its focus from dethroning Dogecoin to enriching the Shiba Inu ecosystem. To this end, its development team launched a clear roadmap that indicates the different fundamental adjustments they intend to add to the Shiba network.

Key among them is the launch of the ShibaSwap decentralized exchange. They also intend to launch a launchpad for tokens, which will accelerate the burn rate for Shiba Inu tokens. They have also hinted at creating Shibarium – a layer-2 scaling solution for Ethereum that Ryoshi argues will be more decentralized than Polygon or Binance Smart Chain.

All these factors have helped convince most crypto investors of Shiba Inu’s sustainability. They have also played a crucial role in fueling investor interest in the joke currency.

Is Shiba Inu (SHIB) A Good Investment?

Shiba Inu is a massively popular cryptocurrency that has posted incredible value gain in the past, enough to convince any crypto trader of its viability as an investment. But the fact that it is a meme coin casts a wide shadow of doubt over its sustainability.

To better understand whether it is worth buying Shiba Inu today, we need to look at both the reasons for buying the joke coin today and the risks associated with SHIB investing at the moment.

Reasons To Buying Shiba Inu (SHIB) Today

• Potential for massive value gain: Increased burn rate for Shiba Inu tokens as well as an expanded ecosystem that increases the token’s use cases are expected to fuel value gain for the meme coin. These plus a recovering crypto market will undoubtedly catapult a SHIB investor’s portfolio to new heights.
• The hype around the coin is growing: The hype around Shiba Inu has been on the rise, fueled by endorsements from celebrities, association with the likes of Vitalik Buterin, and a massively vibrant online community of followers.
• Accessible and highly liquid: Shiba Inu is listed with virtually all the most popular exchanges and its daily trade volumes have been on a perpetual rise. This makes the liquidation of even the largest SHIB portfolio relatively easy and fast.
• Incredible past price action: You may also consider buying Shiba Inu today because it posted massive value gain in the past. Experts do not expect this wave of unprecedented value gains to die any time soon because all the factors that helped catapult SHIB to an all-time high in 2021 are still actively fueling its current recovery.
• It is resilient: You may also want to buy SHIB tokens because they have proven their resilience. Despite the backlash meme coins have been subjected to by the mainstream media and the volatile market crashes in mid-2021, SHIB has sustained its uptrend and its position among the 20 most valuable crypto projects.

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Risks Of Buying Shiba Inu (SHIB)

• It is massively volatile: Shiba Inu is a massively volatile crypto asset and its price crashes often. The dog-themed coin is, for instance, currently selling close to 90% below its all-time high, and there is no telling if it will ever recover.
• High risk of collapse: Meme coins have the highest risk of collapse. They form the greatest pile in the pit of dead coins and Shiba Inu is not immune to the factors that caused the stall and eventual death of its peers.
• Large circulating supply: Shiba Inu’s expansive supply of 500+ trillion tokens places a subtle limit on how high the token prices and the ecosystem’s market cap can reach in the foreseeable future. This then places a cap on just how high your crypto portfolio grows.

Shiba Inu (SHIB) Price Prediction

Despite the value loss, the majority of analysts are confident that Siba Inu will recover and reach new heights over the next few years. Some of the factors that they believe will help revive Shiba Inu include a recovering crypto market and support from SHIB’s growing community.

They also expect growing investor interest in the meme coin and a revived meme coin craze to play a crucial role in getting Shiba Inu back to its all-time high prices.

Overall, the majority of crypto analysts and investors are convinced that Shiba Inu has everything it needs to force a rebound and a price run towards, and possibly above, the current all-time high.

The most optimistic, like technical analysts at Gov Capital, are convinced that Shiba Inu can recover and grow its worth by more than 31000% to reach $0.00093 by the end of 2022.

The crypto industry players are also massively bullish about Shiba Inu’s medium-to-long-term price direction. They are confident that an expanding ecosystem, the increased burn rate for Shin Tokens, and sustained investor confidence in the meme coin will help sustain its uptrend.

Over the next 5 years, for instance, technical analysts at the reputed Wallet Investor expect Shiba Inu to have reached $0.00013. By the turn of the decade, analysts at Telegoan expect Shiba Inu token prices to rise by close to 9000% and reach $0.00112.

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Ways To Buy Shiba Inu (SHIB)

While discussing the top exchanges to buy Shiba Inu, we pointed out the diverse payment methods.

In this section, we will be expounding on the three most popular ways of buying Shiba Inu today.

How to Buy Shiba Inu With Credit Card and Debit Card

Credit cards and debit cards are arguably one of the most accessible payment methods. A large number of crypto exchanges, including the three we have discussed hereinabove all let you buy Shiba Inu with credit and debit cards.

The upside to buying Shiba Inu with credit cards can be attributed to the fact that card payment processing is almost instantaneous. Additionally, most of the exchanges that we have listed above do not maintain deposit processing fees for card payments.

How to Buy Shiba Inu With PayPal

A growing number of crypto traders prefer buying Shiba Inu with PayPal because of its efficiency. The payment method is easy to use and transaction processing instantaneous. Additionally, most crypto exchanges that support PayPal do not maintain a deposit-processing fee.

The only downside to buying Shiba Inu with PayPal is that only a handful of crypto exchanges – like eToro – support PayPal deposits.

How to Buy Shiba Inu Bank Account

Banks are the most accessible payment methods. This explains the reason virtually all the crypto exchanges, including the top trading platforms we have featured in this Shiba Inu investing guide, welcome bank deposits.

The upside to buying Shiba Inu with bank deposits is that most exchanges do not have a maximum deposit limit for bank transfers. The downside, on the other hand, is that bank transfers take relatively long before they can be processed. At eToro, for instance, it takes between 3 and 8 days for a bank deposit to reflect in your trader account.

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Best Shiba Inu (SHIB) Wallet

There are two primary types of wallets that you can use to hold your Shiba Inu investment. The first and most accessible option is the free online wallets provided by crypto exchanges or such third-party crypto custody service providers as MetaMask and Exodus.

The only downside to holding your SHIB tokens in an online wallet is that it exposes you to hacking threats.

For this reason, we advise our readers to get their private keys off exchanges and online wallets and move them to reliable hardware wallets. These store your keys offline – away from the many threats facing hot wallets.

How To Buy Shiba Inu (SHIB) – Tutorial

Throughout this post, we have told you everything you need to know about buying Shiba Inu. From what it is to its past price action, the top exchanges to buy Shiba Inu, and even the different ways to buy the meme coin.

Next, we provide you with a step-by-step guide on how to buy Shiba Inu on the all-popular eToro trading platform.

Step 1: Create a trader account

Open the official eToro website and hit the “Join Now” icon to begin the account creation process. Complete the registration form that pops up. It asks for such personal information as your name, address, and phone number. It will also ask about your trading history and source of income.

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Step 2: Verify your identity

To complete the registration process, the multi-regulated crypto exchange will require you to verify your identity. You achieve this by emailing a copy of a government-issued document to the eToro support team.

Step 3: Deposit funds into the account

Log in to your approved crypto trader account and on the user dashboard, tap on the “Deposit” icon. A funding window will pop with a list of the payment options available to you based on your country of residence. Choose one and follow the prompts to complete the deposit. Note that the minimum you can deposit into eToro is $10.

Step 4: Search for Shiba Inu

On the user dashboard, click on the “Discover” tab, and from the list of available asset classes, choose “Crypto.” Use the search option to find Shiba Inu or simply locate it from the list of crypto assets supported on the platform.

Step 5: Buy Shiba Inu

Click on the “Buy” option. A trading window will pop up and you can customize the investment here by indicating the amount of cash you wish to spend on buying SHIB tokens or the number of Shiba Inu tokens you wish to purchase. Complete the trade by hitting the “Open Trade” button.

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How To Sell Shiba Inu (SHIB)

It is simple. Start by logging in to eToro or the exchange where you purchased your Shiba Inu tokens. Deposit the SHIB tokens to the exchange (assuming you had taken your meme coins off the exchange and onto an offline wallet).

Open a sell order. If you wish to sell the coins immediately and at the prevailing market rate, open a market order. If you wish to set the selling price for your coins, open a limit order and set your selling price.

Conclusion – How To Buy Shiba Inu (SHIB)?

Buying Shiba Inu doesn’t have to be complicated. There are now a growing number of tier-one crypto exchanges that list the meme coin and they all have oversimplified the process of buying SHIB on their platforms.

To help you start investing in the meme coin, we have discussed the best exchanges to buy Shiba Inu. We have also provided you with a step-by-step guide on how to buy Shiba Inu at eToro.

We have even described the different ways through which you can buy Shiba Inu. We have taught you how to buy SHIB with PayPal, credit cards and debit cards, and even banks. And you only need $10 to start buying Shiba Inu on eToro.

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FAQs About Buying Shiba Inu

What will Shiba Inu be worth in 2022?

The crypto market is wildly volatile and unpredictable at the moment. Therefore, no one can tell with utmost accuracy what Shiba Inu will be worth by the end of the year. The majority of analysts and investors are nevertheless confident that Shiba Inu token price will rebound and be worth much more in December than its current price.

Is Shiba Inu worth buying today?

Yes, Shiba Inu is worth buying today because it has proved its resilience. There also is a lot of developer activity on the Shiba Inu network, the meme coin is growing its community of followers and there is increased investor interest in Shiba Inu – all of which are expected to continue fueling SHIB’s value gain.

Will Shiba Inu ever reach $1?

It is not impossible for SHIB to eventually reach $1. To get here, however, it will need to burn a significant portion of the SHIB tokens in circulation.

Which is the best exchange to buy Shiba Inu?

In this post, we have discussed what we consider to be the three best exchanges to buy Shiba Inu. They all are great trading platforms but we would recommend that you create a trader account with eToro. The crypto exchange isn’t just beginner-friendly but also maintains affordable deposit minimums and competitive trading fees.

Can I buy Shiba Inu with PayPal?

Yes, you can buy Shiba Inu with PayPal. This, however, can only be done through a crypto exchange that supports PayPal deposits, such as eToro.

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Will Shiba Inu (SHIB) reach $1? The truth is, no one can tell with certainty whether it will reach $1 or not. Someone may argue that at Shiba Inu’s current token supply, this is an impossibility. Another may argue that Shiba Inu’s price history defies all logic and that $1 per SHIB token is possible between now and 2025.

We believe SHIB Inu can reach $1, but the earliest this can be achieved is in 2030 or thereabout.

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Anything earlier than that is possible but is a bit of a stretch. The reason for a 2030 prediction is to allow for the overall crypto market cap to accommodate such a market cap logically.

If Shiba Inu were to trade at $1 today, that would give it a market capitalization of $549.55 billion. That is slightly larger than the market cap of Ethereum today. Essentially, it would mean that the majority of the investable capital getting into crypto would be going to Shiba Inu, and that’s pretty unrealistic.

Alternatively, it would mean that the overall cryptocurrency market would have to expand exponentially within a very short time. For context, it would necessitate a situation where Bitcoin has a market capitalization in the 10s, if not 100s, of trillions of dollars. It would also mean that Ethereum would also be trading in the trillions of dollars in market capitalization.

For such a situation to become true, there would be an above-average devaluation of fiat currencies and massive adoption of cryptocurrencies in a very short time. So far, nothing of the sort seems to be happening. If anything, governments are taking measures to curb the risk of inflation.

After the stimulus packages of 2020, Central Banks are taking measures to help slow down the risk of hyperinflation. They include but are not limited to raising interest rates, and going slow on bond-buying, as is the case in the EU.

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In terms of adoption, the use of cryptocurrencies is on the rise globally. However, cryptocurrencies still constitute a very small portion of everyday transactions. In fact, they constitute less than 10% of transactions. In a world where many educated people still have no idea how cryptocurrencies work, it is unlikely that mass adoption will happen in a very few years, say between now and 2025.

However, going into the 2030s and beyond, there is a pretty good chance that Shiba Inu could hit $1. For starters, by 2030, the crypto market will have expanded quite significantly to a point where it can accommodate an extremely high market cap for altcoins like Shiba Inu.

For context, there is a good chance that by 2030, Bitcoin could be trading at $1 million. Since it is the primary driver to the crypto market, if Bitcoin hits such a price, the rest of the market would move to reflect the same. While $1 million per BTC may seem high, consider the fact that its block rewards are shrinking over time. For instance, in the upcoming block halving of 2024, Bitcoin block rewards will shrink to just 3.125 BTC. With the growing institutional interest in BTC, this shrinking supply could put significant upside pressure on BTC and the entire market.

Besides that, Shiba Inu fundamentals will be much better than they are now going into the 2030s. This is evident in the kind of progress that Shiba Inu has made in the 1.4 years it has existed.

Shiba Inu started as an average meme coin with nothing to offer but ride on Dogecoin’s coat. However, since then, it has proven itself to be worthwhile crypto. The supply has shrunk considerably, it has a DEX, and adoption is happening. Since these factors will only get better with time, it is safe to predict SHIB at $1 by 2030.

That said, not many people can hold on to a cryptocurrency that long. Considering how volatile the market is, you need diamond hands to hold a meme coin and ride the waves for 10-years. So, in the short term, is Shiba Inu a good investment for 5-years?

2021 is pretty much over, so a 5-year plan means holding SHIB until 2026. For all the good things that are happening to Shiba Inu, it is a good investment for the next 5-years.

For starters, the total supply of Shiba Inu is set to shrink significantly within the next 5-years. Thanks to Shiba Inu’s deflationary nature, and Vitalik Buterin’s burn, Shiba Inu token supply is now less than 50% of what it was at launch.

As more people transact in SHIB and more tokens are burned, the supply will drop even further. Going by simple demand and supply economics, this shrinking supply will help drive up the value of SHIB in the next 5-years.

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Then there is the aspect of adoption. While it started as a worthless token with no use case, Shiba Inu has already been used for everyday transactions. A few months ago, Shiba Inu was added to Shopping.io and is now one of the cryptocurrencies that can be used for making payments on major e-commerce sites like Amazon. More recently, a French restaurant started accepting Shiba Inu for payments.

As its price goes up and more people become aware of SHIB, there is a good chance that major corporations will start accepting it for payments. Dogecoin sets a positive precedent on this front.

Before the pump that started in 2020, Dogecoin was a joke coin. Today, it is accepted by more than 15 major corporations and many small companies. Shiba Inu has a good chance of following a similar pattern, and that’s good for its intrinsic value.

Simply put, you are unlikely to go wrong with Shiba Inu regardless of whether you are investing with the next 5-years or 10-years in mind. With the exponential rate at which the cryptocurrency market is growing, Shiba Inu will reach $1 at some point and give investors exponential returns in the next 5-years.

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Ecommerce sales hit $4.9 trillion in 2021 and are expected to exceed $6.1 trillion in 2023, accounting for almost a quarter of retail sales. Around 50 percent of online purchases are made using a digital wallet. Clearly, to say that digital wallets are significant in today’s economy is a huge understatement.

Apps like Apple Pay and Google Pay are exploding in popularity with millennials and Gen-Z. Meanwhile, older demographics tend to remain faithful to the digital wallet that started it all – PayPal might be old, but 429 million registered users say they are doing something right!

However, that is not the end of the story. Cash App has enjoyed a surge in users over the past couple of years after spending so long as an “also ran.” Let’s find out what’s behind its sudden popularity.

Cash App’s reinvention

Cash App has been around longer than most of us realize. It came out in 2014, and enjoyed a spike of early popularity under its original name of Square Cash, as a great tool for peer-to-peer transactions. However, after the hype died down so did the users. In 2018, the app was rebranded as Cash App, but the change was more than skin deep.

As well as rebranding, Square launched Cash App in the UK market and added new functionality for Bitcoin trading. It also invested millions in an advertising campaign with Houston-born rapper Travis Scott at its heart. This combination of factors has helped Cash App to achieve an increase in profits of 212 percent from 2019 to 2020.

The gambler’s choice 

The marketing campaign certainly reminded the vitally important Gen-X demographic that there are digital wallet alternatives beyond Apple and Google. However, the new crypto functionality undoubtably contributed to Cash App’s escalating fortunes, too.

Cash app is welcomed in dozens of casinos. Due to the regulatory situation in so many states, using Bitcoin to bankroll casino gaming and then having an online casino cash app payout in the event of a big win makes a lot of sense. Bitcoin gambling is commonplace as a way to enjoy playing a casino game without involving banks that could face problems under the Unlawful Internet Gambling Enforcement Act. Cash App is a useful app for those who want to use Bitcoin but are not entirely sure how, a description that fits an increasing number of US online casino gamers at present.

The viable alternative to PayPal

The other significant factor in Cash App’s growth is that it is an established name that provides a viable alternative to the world’s most popular digital wallet. PayPal user numbers have dropped slightly in recent months and there has been plenty of murmuring online as to why.

For years, PayPal’s fraud prevention measures have been considered a benchmark. But for some users, it is possible to have too much of a good thing. There are numerous stories of customers being locked out of their own accounts and being forced to wait for days to get back in. Cash App seems to have the same strong record on fraud prevention but without the inconvenience and drama.

Looking for an entry point into the exciting world of dogecoin (DOGE) trading? We’ll help you through it.

Dogecoin trading is pretty straightforward once you get the hang of it.

This guide on how to Trade Dogecoin will break everything down in Layman’s terms so that you do not trade blindly. But, if you don’t quite have the time to read it all of the way through, this is what you need to do to trade Dogecoin now.

The popular cryptocurrency, Dogecoin, enjoyed an eventful period in the first months of 2021. Until October 2021, the meme digital asset had managed gains of over 13,350%.

As such, the digital currency is now firmly ranked as a top 12 crypto – in terms of market capitalization. If you want to take advantage of these price fluctuations, it might be the right time to learn how to trade Dogecoin.

You can trade the DOGE coin against fiat currencies such as the USD, as well as other crypto-assets like Bitcoin.

In our extensive How to Trade Dogecoin (DOGE) Guide  – we have put together everything you need to know about this digital asset.

We will start with the trading fundamentals, the different orders to use, risk management, and how you can find a broker to trade Dogecoin assets online.

Trading Dogecoin currency is no easy feat – which is why we have put together an in-depth guide on How to Trade Dogecoin today. Within it, we explain the ins and outs of how this investment scene works, what risks and rewards you need to consider, and how you can start trading it today.

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How To Trade Dogecoin (DOGE) – Quick Guide

• Step 1: Open an account with a regulated crypto broker. You can trade Dogecoin by opening an account with a credible broker like eToro.
• Step 2: Funds your account with a debit/credit card, e-wallet, or bank transfer.
• Step 3: Choose how many Dogecoins you want to trade.
• Step 4: Buy DOGE (go long) or sell DOGE (go short).
• Step 5: Confirm your trade.

That’s it! By following these easy steps, you can trade Dogecoin in less than 5 minutes.

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What Is Dogecoin (DOGE) Trading?

Dogecoin (DOGE) is a digital asset that enables you to send and receive funds with ease.

The digital currency was launched as a joke in 2013, satirizing the frenzy around cryptocurrencies at the time. As such, there are no unique features or characteristics that set this coin apart.

However, Dogecoin has since improved its image to become a friendlier alternative to Bitcoin. Thanks to social media mentions by famous supporters such as Elon Musk, the coin’s value has been experiencing a steep surge in recent months.

Today, it is deemed as a stepping stone to the crypto world.

As with the other cryptocurrencies, the value of Dogecoin fluctuates throughout the day – sometimes, even by the second. When trading Dogecoin, your aim is to speculate on the price of DOGE coins in the future.

If Dogecoin is in high demand, then the price of the digital currency will rise. If more and more traders are trying to cash out their Dogecoin holdings, the price of the coin will fall. Being able to predict these price fluctuations is how you make a profit when trading Dogecoin online.

Here is a practical example to clear the mist:

• Let’s say Dogecoin is valued at $0.17.
• You will find this denoted as DOGE/USD at cryptocurrency platforms.
• Believing that Dogecoin is undervalued, you place a $1,000 buy order.
• A couple of months pass and the digital asset is valued at $0.34.
• This translates to a 100% increase in value.
• You place a sell order to exit the trade at a profit.

In this example, we saw the price of Dogecoin increase from $0.17 to $0.34in a matter of two months. This leaves you with a profit of $1,000 on your $1,000 stake.

Put simply – if you speculate correctly, Dogecoin (DOGE) trading comes with high-profit potential. On the other hand, if your speculation is wrong, then it is a different story altogether – leading to a loss on the trade.

Consequently, before you begin to trade Dogecoin online, it is paramount that you are educated about the ins and outs of this specific market.

How Does Dogecoin Trading Work?

If you are already familiar with trading conventional assets such as stocks and commodities, you will have no trouble learning the ropes of Dogecoin trading.

However, the notable difference is that unlike traditional tradable assets, digital currencies have around been only for a decade or so. As such, the factors that determine their price shifts are also slightly different.

For instance, along with supply and demand, you will also have to consider blockchain development and regulations imposed on various markets.

With this in mind, this section of our How to Trade Dogecoin Guide will go through some of the trading fundamentals to clear the mist.

Dogecoin Trading Price Movements

In order to trade Dogecoin successfully, you need to have a firm grasp on what drives the price of the digital asset.

These days, you can find Dogecoin listed on most cryptocurrency platforms. If more traders are going long on the asset, then this will be reflected with an overall increase in the price of the coin.

On the contrary, if the general feeling towards the digital currency is to go short, then the value of the coin will also go down.

As you might notice, the price of Dogecoin might vary slightly at different cryptocurrency platforms. One broker might quote you $0.171, whilst at another, the coin might be priced at $0.172.

However, this difference is nothing to be worried about and will not affect your ability to place profitable trades in any way.

Dogecoin Trading Pairs

As we covered in the introduction, Dogecoin trading is facilitated through crypto pairs. You can trade the digital asset against both fiat currencies as well as other cryptocurrencies.

Let us start with ‘crypto-fiat’ pairs – a term that you will come across quite a lot in the Dogecoin trading space.

• For instance, when you see a DOGE/USD pair, it means that Dogecoin is traded against the US dollar.
• In this case, DOGE is the ‘crypto’ and USD is the ‘fiat’.

The US dollar, being the benchmark fiat currency, is most widely used when trading cryptocurrencies.

That said, some online brokers will also give you access to other crypto-fiat trading pairs such as DOGE/GBP (British pound), DOGE/EUR (euro), DOGE/CAD (Canadian dollar), and even DOGE/JPY (Japanese yen).

Trading Dogecoin against fiat currencies also invites the advantages of high liquidity and tight spreads. Moreover, it is easier for traders to quantify profits and losses as well as speculate on the exchange rate.

For this reason, crypto-fiat currencies are considered a more suitable option for novice traders.

The other option is to trade Dogecoin against other cryptocurrencies such as Ethererum or Bitcoin. However, this requires having a solid knowledge of both the competing coins and their respective markets. As you can guess, this might be complicated for new traders.

To summarize – whether you choose to trade Dogecoin against a fiat currency or other cryptocurrencies, you have to arm yourself with the specifics of the assets in question.

Long or Short-Term Trading

Before you start speculating on Dogecoin, you should first consider which financial instrument is most suited for your trading goals. You have two options in front of you – to invest in cryptocurrency in the long-term or trade the asset in the short-term.

For instance, if you feel certain that Dogecoin has a promising future ahead, then you can consider investing in digital coin in the long run. In this case, you will be buying the coin in the traditional sense and storing them in a crypto-wallet.

This way, you can hold on to Dogecoin for months or years – until you think it’s the right time to cash out and collect your profits. In the cryptocurrency world, this strategy is popularly known as ‘HODLing’.

On the other hand, short-term strategies demand a strong understanding of technical analysis to support your decision-making process. For new traders in particular, this will be a challenging undertaking.

Learning to read charts and other technical indicators will require a considerable amount of time. Therefore, if you are a newbie – then a ‘buy and hold strategy’ will be an easier approach.

This way,  you do not have to worry about the short-term volatility of the Dogecoin market.

That said, if you rather prefer the idea of making modest profits on a regular basis – a short-term strategy will be more to your liking. If this is the case, it is best that you stick to liquid pairs such as DOGE/USD or DOGE/BTC.

Trade and Own Dogecoin

As we discussed in the previous section, if you want to trade Dogecoin in the long term – you can adopt a ‘buy and hold strategy’. When looking to buy this digital asset, it is best to purchase coins directly through an online broker rather than a cryptocurrency exchange.

You can find a plethora of online brokers offering Dogecoin on their platforms. But it is always best to choose a regulated broker to work with – which we will discuss in more detail in the later sections of our guide.

Long-term investment can be well-suited for both beginners and seasoned traders – as it eliminates the need to concern yourself with the short-term price fluctuations of the coin.

Dogecoin Trading

For those who prefer to trade Dogecoin in the short-term using ‘swing trading’ or ‘day trading’ strategies – you will want to find an online broker who offers Dogecoin CFDs (Contracts for Differences).

Here is an overview of what CFDs are all about:

• CFDs are financial instruments that track the value of the underlying asset – in this case, Dogecoin.
• Trading with CFDs comes with the perks of low fees and leverage.
• CFDs allow you to speculate on both the rising and falling prices of Dogecoin – by going long or short on the digital asset.

Before we continue, it is important to note that CFD instruments are prohibited in the US – because of the added risk involved. In the UK, you will have no trouble accessing CFDs on conventional assets, but cryptocurrency CFDs are not legal anymore.

However, if you want to access leveraged Dogecoin markets from a country where they are illegal, you can do so through a third-party cryptocurrency exchange. However, there is a strong likelihood that these are unregulated spaces.

In addition, you will not have the convenience of funding your trading account using fiat currencies such as USD or euros. As such, you will be trading DOGE/USDT instead of DOGE/USD.

For those who are unaware – USDT is a digital currency named Tether, with its value equivalent to that of one US dollar.

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How To Trade Dogecoin Online – Setting Up A Trade

When learning how to trade Dogecoin, it is essential that you are familiar with the different types of trading orders. In simple terms, these orders are utilized to convey to your broker what position you are taking on the asset.

Here we have a list of the most commonly used orders when trading Dogecoin.

Buy or Sell Order

Regardless of which asset you are trading, it is mandatory that you use a buy order or a sell order.

In summary:

• If you expect the price of Dogecoin to rise – you will create a buy order.
• If you expect the price of Dogecoin to fall – you will create a sell order.

Every Dogecoin trade you place will need both buy and sell orders.

For instance, if you open a Dogecoin trade using a buy order – you will exit it using a sell order. On the contrary, if you open your position with a sell order – you will need a buy order to exit it.

Entry Price

Buy and sell orders are only the most basic of trading orders. To be a successful trader, you also need to have an entry strategy in place.

When placing a trade on Dogecoin, you will have to specify to your broker how you want to enter the market. You have the option to choose between a market order and a limit order.

Let us give you an explanation of each:

1. Market order:

A market order will indicate to your broker that they should execute at the next best price.

For instance, let’s say that Dogecoin is currently priced at $0.050. You want to secure this price immediately – so you place a market order. Your broker carries out the trade instantly.

However, you might see a minuscule difference in the price the order is actually executed at – due to the price fluctuation.

2. Limit Order:

These orders are used when you want to enter the market at a certain price. Let’s say that Dogecoin is valued at $0.050.

You want to wait until Dogecoin rises to $0.055. So you create a $0.055 limit order with your broker. The order remains pending until the price is realized or you cancel the order.

As you can see, limit orders allow you to maintain more control over your positions – and is preferred by traders of all levels.

Exit Strategy

Along with entry strategies, you should also consider how you are planning to exit the trade. This is where you utilize ‘take-profit’ and ‘stop-loss’ orders.

• A take-profit order allows you to close your trades at a specific profit level. For instance. If you have a profit target of 3% on your Dogecoin trade – you will set a take-profit order at 3% above or below your entry price. When the price of Dogecoin meets your predetermined price level, your broker will automatically close the trade.
• Stop-loss orders are utilized to limit your losses on trades. Let’s say you do not want to risk losing more than 1% on your Dogecoin trade. You will place a stop-loss order at 1% above or below your entry price.

Once the price of Dogecoin hits your specific stop-loss price level, your trade will automatically be closed.

Allow us to give you another example to demonstrate this concept:

• Let’s suppose that you want to enter a DOGE/USD trade at an entry price of $0.200.
• You believe that the price of Dogecoin will rise soon – so you place a buy order.
• If your Dogecoin position makes a profit of 2% – you want to close the trade.
• So you place a take-profit order at $0.204.
• At the same time, you want to stop your losses at 1%.
• Hence, you create a stop-loss order at $0.1998.

This trade can go two ways:

• Should the value of DOGE/USD rise to $0.204, your broker will execute the take-profit Your profit will be 2%, and your trade will be closed.
• Should the price of DOGE/USD fall to $0.1998 – your broker will execute the stop-loss Your loss will be limited to 1%, and the trade will be closed.

As you can see, you can place the take-profit and stop-loss orders on either side of your entry price. As such, irrespective of the direction the market moves, your broker will automatically close the trade at the prices predetermined by you.

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How To Make Money Trading Dogecoin

Using trading orders can allow you to automate the trading process to an extent. However, these strategies alone are not adequate to ensure that Dogecoin trades will be profitable.

In this section, we will look into the other considerations that play a crucial role in the profit potential of Dogecoin crypto-asset.

How Can You Make Money Trading Dogecoin (DOGE)?

1. Stake

Once you are thorough with the trading fundamentals of Dogecoin, you will need to know how much you want to stake on the digital coin.

In the trading industry, the stake is the amount you are willing to risk on a tradable asset. The more your stake – the higher your returns, but so are the losses.

Let us give you an example.

• For instance, if you stake $500 on Dogecoin and make a profit of 5% – you gain an amount of $25.
• In case you increase your stake to $1,000 – your profits from the same trade will amount to $50.

However, staking is not as simple and straightforward – especially when you can get emotionally carried away with your trading decisions.

Therefore, it is common for traders to use a bankroll management strategy to mitigate the risks.

Simply stated, you consider how much you can afford to lose on each Dogecoin trade. Many traders choose to stake a maximum of only 2% of their trading funds at a time.

• For instance, if you have a balance of $5,000 in your account – you will not stake more than $100 on a single Dogecoin trade.
• If you have $10,000 – the maximum amount you stake will be $2,000, and so on.

Not to worry, there are plenty of brokers out there who allow you to trade Dogecoin for smaller stakes.

2. Dogecoin Trading Leverage

Before explaining how leverage works, we should once again mention that CFDs are not permitted for US residents.

If trading Dogecoin CFDs is legal in your country, you can boost your gains by applying leverage. Note that if you speculate incorrectly on the future value of DOGE, leveraging can also amplify your losses.

Here is an example of how leverage works:

• Let’s say you want to place a buy order worth $1,000 on DOGE/USD.
• You apply leverage of 1:5
• In a few hours, the value of DOGE increases by 5%.
• Without leverage – your profit on this trade will be $50
• With leverage of 1:5, your earnings will now be magnified to $250.

As is evident, leverage can boost your profits on your Dogecoin trades significantly.

For this reason, you will come across online brokers who offer leverages as high as 1:100 – sometimes more.

But take note that such platforms are most likely to be unregulated. If you trade through such dangerous spaces, you will be entrusting your capital with a broker who is not committed to the safety of your funds.

Fees to Trade Dogecoin Online

Whether you choose to trade Dogecoin in the long-term or short-term, you will need to pay fees of some description. The specific commissions and other rates chargeable will vary from one online broker to another.

Before you commit to an online broker, you should be aware of the potential fees involved in the trading process.

Here is a list of the main Dogecoin fees you are likely to encounter on trading platforms.

Dogecoin Trading Commission

Most brokers charge you a trading commission every time you place a buy or sell order with them. This is usually denoted in percentage terms against the size of your stake.

• For instance, a number of cryptocurrency exchanges charge 1.49% to trade Dogecoin.
• This means that if you place a $1,000 stake on Dogecoin, you will have to pay a commission of $14.90.
• Then, when you close the trade, the broker would charge you 1.49% again.

As you can see, you will have to pay the commission once when you enter the market and then again when you exit it.

That said, you will also come across online brokers who allow you to trade Dogecoin on zero commissions. In this case, you will only have to consider the spreads – which we will discuss next.

Dogecoin Spread

The spread is often regarded as an indirect fee charged by the online brokerage platform. It is the gap between the bid price and the ask price of the digital asset.

If there is a wider gap between the two prices, you will pay more in terms of the spread to your crypto-broker. Therefore, you want to look for tighter spreads so that you can keep more of your potential profits for yourself.

To provide you with an example – if your broker charges you 1.9% via the spread, you are starting the trade at a loss of 1.9%.

Meaning, you will have to make 1.9% in profits just to break even on the trade. Anything over this 1.9% will only be counted as a profit.

Other Dogecoin Trading Fees

Along with the aforementioned charges, you are also likely to come across a few other fee types when trading Dogecoin online.

This includes:

• Deposits / Withdrawals: On some platforms, you will also have to pay transaction fees to process your deposits and withdrawals. For instance, at Binance, there is a 2% fee charged for every credit/debit card payment. While at Coinbase, the deposit fees are even higher at 3.99%.
• Inactivity Fee: This is another type of fee common at crypto brokers. The fee is usually charged if you do not meet the minimum trading activity on your account – often for a duration of 12 months. The fee will be directly taken from your balance every month until you withdraw the funds or begin trading again.
• Overnight Fee: If you are able to access CFDs where you live legally, you will also be liable to pay an overnight funding fee. The fee is charged for every position that is left open overnight. Some platforms also charge you a higher fee on weekends.

All things considered, we should stress that it is paramount that you check what fees and commissions you are needed to pay to your online Dogecoin broker before signing up on the platform.

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How To Trade Dogecoin (DOGE) Right Now – Step-by-Step Walkthrough

If you have read our How to Trade Dogecoin Guide from start to finish, you now have a thorough understanding on how things work.

If you feel ready to start trading Dogecoin, all that is left is to set up your trading account. Follow the step-by-step walkthrough we have described below, and you will be able to trade Dogecoin in minutes.

Step 1: Choose a Trusted Broker

The first thing on your checklist is to find a suitable trading broker. There are dozens of online platforms competing for your attention, and as such, the process can indeed be overwhelming.

Here are some of the factors that you need to consider when looking for a broker that fits your needs:

• Regulation: Does the Dogecoin broker hold a license from regulatory bodies such as the FCA, CySEC, or ASIC?
• Fees: What will you be liable to pay in terms of commissions, spreads, and other trading fees on the brokerage site?
• Payments: Which payment methods does the site support?
• Minimum Deposits: Is there a minimum deposit and stake required to start trading Dogecoin?
• Dogecoin Pairs: Which Dogecoin trading pairs are offered?
• Trading Platform: Is the trading platform easy to use?
• Mobile App: Is there a mobile application available?

As is evident, there are many aspects that you need to keep an eye out for when choosing your Dogecoin broker. By going through our check-list, you will be able to weed out the platforms that are not worth your time.

Step 2: Open a Trading Account

Once you have identified the broker you want to trade Dogecoin with, you can proceed to open an account with them. All you need to do is provide your basic information – such as your full name, address, email, and contact information.

On regulated brokerage platforms, you will also need to verify your identity. The online broker will need to know who you are as per KYC norms. You can complete this step by providing a photo ID such as your passport.

Step 3: Deposit Funds

One of the advantages of choosing a regulated Dogecoin broker is that you can fund your trading account with fiat currency.

The best online crypto brokers will offer you various payment methods to choose from. These include bank transfers, credit/debit cards, and e-wallets such as PayPal.

Step 4: Choose Dogecoin (DOGE) Trading Market

With your trading account funded, you can choose the specific market you wish to trade.

As we discussed earlier, you can trade Dogecoin against a fiat currency or other cryptocurrencies.

If you already have a specific market in mind, you can simply search for it on the brokerage site.

Step 5: Place Dogecoin Trade

When you have found your chosen market, you need to set up your trading orders. If you need to review again, feel free to check our previous section further up in our How to Trade Dogecoin Guide.

When ready, you can place your first Dogecoin trade. Based on your prediction, you can place a buy or sell order.

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How To Trade Dogecoin Guide – The Verdict

To sum up, learning how to trade Dogecoin (DOGE) can take time. However, given the circumstances, it is a trading domain that is well worth considering.

Dogecoin continues to gain more interest from cryptocurrency enthusiasts around the world – and it will be exciting to see where the digital coin is headed next.

Having said that, it is crucial that you stick with a regulated broker when trading Dogecoin online.

Make sure that you crosscheck the different parameters we have mentioned in our guide, and you will be able to find a top-rated broker that can help you achieve your trading goals.

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FAQ

How safe is it to trade Dogecoin online?

Trading Dogecoin online is safe – given that you use a regulated broker to execute your trades.

Where can I start trading Dogecoin?

Trading Dogecoin online is pretty easy. All you need to do is to find a respected online broker and open an account with them.

Can you get rich by trading Dogecoin (DOGE)?

If you are able to correctly speculate on the short-term price movements of Dogecoin – you will make a profit. On the contrary, if you speculate incorrectly – you will make a loss. As such, it is best to adopt a bankroll management strategy to take calculated risks.

Can you trade Dogecoin legally in the US?

Yes, you can trade Dogecoin in the US. However, you cannot access leveraged crypto CFDs.

Is it possible to trade Dogecoin with leverage?

Yes, you can. That said, depending on where you live, there might be restrictions on trading Dogecoin with leverage. For instance, in the US and the UK, leveraged cryptocurrencies are not permitted – so you will not be able to obtain leverage through a regulated brokerage.

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A Beginner’s Guide to Buying and Selling Dogecoin Cryptocurrency in the USA

Based in the USA and looking to buy Dogecoin? If so, there are several regulated crypto exchanges in the USA to choose from. most of which give you access to the top digital assets including DOGE. But how do you know whether Dogecoin is a good buy, and which Exchange is best for you?

With the recent popularization of meme coins, more and more such digital currencies emerged in the crypto market. However, Dogecoin is the first and most famous cryptocurrency of its kind, although it was not until the beginning of 2021 that Dogecoin became so popular.

Before that, it was traded at below one cent. But with a huge army of followers and support from celebrities helped Dogecoin’s price to increase by over 7000% during the first half of 2021. The recent crash of the crypto market also affected Dogecoin, and it significantly lost its value. That said, Dogecoin is still a hot cryptocurrency, and there is a massive public interest in this digital asset.

So, if you want to know how to buy Dogecoin in the USA and learn more about this funny and exciting cryptocurrency, this guide is for you.

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How to Buy Dogecoin Crypto in the USA – Quick Steps

If you are looking for a quick and easy way to buy Dogecoin today in the US, follow the steps outlined below. We will show you how to buy Dogecoin on eToro, a popular online broker that is regulated by the SEC and has listed over 60 different cryptocurrency assets.

• Step 1: Open an eToro Account
  First visit the eToro website and create a free account. When prompted, enter your personal information and contact details. Don’t forget to add a secure username and password.
• Step 2: Deposit Funds
  You will need to deposit at least $10 before you can buy Dogecoin at eToro. For the fastest deposit method possible, choose from a debit or credit card. Other payment methods supported by this broker include ACH, domestic bank wire, and e-wallets like Neteller.
• Step 3: Search for Dogecoin
  Now that you have funds in your eToro account, type Dogecoin into the search bar at the top of the screen. When you see Dogecoin appear from the list of supported markets, click ‘Trade’.
• Step 4: Buy Dogecoin Coin
  The final step of the Dogecoin investment process will require you to fill out a simple buy order form. Enter the amount of money that you wish to invest in Dogecoin, from $10 upwards. And finally, to place your Dogecoin order, click on the open trade button.

By following the simple step-by-step walkthrough outlined above, you have just learned how to buy DOGE in the US with an SEC-regulated broker.

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Where To Buy Dogecoin (DOGE) In The USA

Are you searching for how to buy Dogecoin in the USA? Well, there are hundreds of crypto exchanges and brokers in the USA. This can make it hard to know which platform is right for you.

List of the best Exchanges to buy Dogecoin (DOGE) in the USA:

Looking where to buy Dogecoin in the USA right now? Below you will find 4 of the best brokers that allow you to buy DOGE in the USA.

• Binance – Best exchange to buy Dogecoin USA for asset diversity
• Coinbase – Best exchange to buy Dogecoin (DOGE) for beginners
• OKEx – Best broker to buy DOGE USA for low-cost

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What Is Dogecoin (DOGE)?

Dogecoin is the first meme cryptocurrency created in December 2013 by two engineers Billy Marcus and Jackson Palmer. The Dogecoin project was developed in just two hours, and it was, in fact, launched as a joke to mock the speculations and seriousness leading in the cryptocurrency market.

The business couple was inspired by a Doge meme representing the Shiba Inu dog and some writings on it in broken English that became popular at that time. They took the name Doge as their project name and Shiba Inu dog picture as their cryptocurrency icon. But Dogecoin has become mainstream only over the last two years. Until that, the project succeeded in gathering a large army of followers who started a campaign on Reddit called “Doge to the moon,” aiming to raise Dogecoin’s price to $1.

How Dogecoin (DOGE) Works And What Affects Its Price?

Dogecoin is a digital payment system pretty much similar to Bitcoin. It uses the Proof-of-work protocol and Scrypt algorithm to run its blockchain, and much like Bitcoin, Dogecoin can be used to buy goods and services as well as to trade and make a profit on its price fluctuations.

Apart from its minor technical differences, Dogecoin developers mention its funny nature as another privilege over other cryptocurrencies. They describe this meme coin on Dogecoin.com as a peer-to-peer digital currency that stands out with its fun and friendly nature and sets itself apart from other cryptos with its vibrant community. In that matter, Dogecoin essentially does not have any innovative ideas to offer the crypto industry and solve real-world problems.

So how did Dogecoin become so popular? Perhaps, one thing is the creative approach to the project, and the broad community gathered around it. The next factor is the support from such celebrities as Elon Musk, Mark Cuban, and others. Tesla CEO Elon Musk frequently posts funny tweets and memes about Doge, and he even announced the Doge-1 mission in which Falcon 9 rocket will carry a private satellite, and the whole project will be paid in Dogecoin.

And the last factor is the bizarre nature of the crypto market which is highly volatile and speculative and often runs on rumors and speculations on famous sites and forums like Reddit.

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Is Dogecoin (DOGE) A Buy Right Now?

Generally, there are at least two factors that can negatively affect Dogecoin’s price. The first one is that it does not have a finite supply which means that miners can issue an unlimited number of coins. Bitcoin, for example, is limited to 21 million coins, which makes it a more valuable asset.

The second factor is that Doge doesn’t have a unique technical characteristic that can help it become utilized by wider communities. In this perspective, Dogecoin is a speculative asset, meaning its long-term success is under question.

Nonetheless, it is impossible to ignore the hype around Dogecoin and the increase in its price since the beginning of the year.

When we look at the chart, we can conclude that Dogecoin can be a good short-term investment. At the time of writing, the cryptocurrency market is in a crisis, and Doge has lost its value significantly. Still, it might recover as soon as Bitcoin and other leading digital currencies will rise again.

After all, Dogecoin is a cryptocurrency, and all the cryptocurrencies are highly volatile and speculative meaning there are lots of opportunities in the crypto market including Dogecoin. Further, Dogecoin is not too expensive, so it is a good start for newbies. You can invest in small amounts and wait until the prices go up and profit. On the other hand, you should always be careful and don’t risk your capital if you can’t afford to lose it.

From the perspective of a long-term investor, if you want to invest in Dogecoin, it’s the right time to do that as DOGE prices have significantly dropped since May 2021 and the coin is currently trading at relatively low prices. But it’s also worth mentioning that you should be very careful when investing in this crypto asset. 

How To Buy Dogecoin (DOGE) Online In The USA – A Step by Step Guide

In this part of the article, we will provide you with a step-by-step guide explaining how to buy Dogecoin in the USA.

1. Find a US Regulated Crypto Exchange that Supports Dogecoin

First, you need to find a cryptocurrency exchange platform that operates in the US and allows you to buy Dogecoin. As there are several cryptocurrency exchanges nowadays, finding the best platform may be challenging for you. Some of the factors you need to consider in this phase include fees, safety, tools, customer service, payment methods, etc.

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2. Buy Dogecoin

Now, when you have a verified account, you just need to search for Dogecoin on the exchange dashboard and fill in the amount you want to invest. Some exchange platforms allow you to buy Doge directly with fiat currencies, while others may require that you buy another coin with fiat and swap it with Dogecoin.

3. Transfer Your Funds to a Hardware Wallet

Finally, when you buy your coins, it’s highly recommended that you transfer them to a hardware wallet. The primary purpose is to keep your coins safe and away from the third party as long as exchange platforms can be easily hacked.

For those unaware, a hardware wallet is a physical device where you keep your coins offline, so it’s almost impossible to lose your coins when using this method to protect them.

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How To Trade Dogecoin (DOGE) In The US – A Step by Step Guide

Dogecoin is a highly volatile digital asset, which means you can profit from its price fluctuations. So, if you want to trade Dogecoin and don’t know how to start, here is a full guide on how to trade Dogecoin in the US.

1. Find an Online Trading Platform in the US that Supports Dogecoin

You need to start by looking for a brokerage platform that supports Dogecoin and accepts US residents. For that matter, if you plan short-term trading, you will probably make lots of transactions, so consider what trading fees the platform charges and how quick and easy it works. If you want to buy Dogecoin for long-term trading, consider monthly account fees, inactivity fees, safety, etc.

2. Fund Your Account

After finding the best trading platform, you need to register for an online account and verify it. When your account is verified, you must add some money to start trading. To do that, choose one of the payment methods that the broker supports to deposit the minimum of funds required for trading.

3. Develop a Dogecoin Trading Strategy

Before you start trading DOGE or any other asset for that matter, it’s strongly recommended to develop a trading strategy to lower the risk of losing your money and be more confident with your trades. If you are an active trader and have lots of time to devote to this, you can choose a scalping method when you buy and sell coins in a matter of seconds. Day trading is another active strategy when the buy and sell processes occur with the same trading day.

For those of you who are a bit busier, the swing is the ideal trading strategy, in which trades last from a couple of days to several weeks. At last – “Buy and hold” is a more passive strategy; when you buy assets and wait until their value increases, then you sell them and make a profit.

4. Start Trading Dogecoin

Finally, you have a funded account and a trading strategy, so you can start trading Dogecoin. In this case, we suggest we follow several crypto news sites and even join popular crypto forums in order to get a better sense of the Doge market.

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Dogecoin (DOGE) Advantages And Disadvantages

If you still cannot decide whether you want to invest in this cryptocurrency, below we have listed Dogecoin’s most notable advantages and disadvantages.

Advantages of Dogecoin:

• Dogecoin is the most popular digital asset among meme coins.
• It’s supported by celebrities, entrepreneurs, including Elon Musk, Gene Simmons, Snoop Dog, etc.
• Its value has increased 8343.09% in the last 12 months.
• Meme coins are becoming more and more popular.
• Dogecoin has an enormous army of followers.

Disadvantages of Dogecoin:

• Dogecoin has an infinite supply which can have a negative impact on its value.
• The project doesn’t aim to solve any real-world problems.
• It’s a speculative asset created just for fun.

What Is Dogecoin (DOGE) Price Prediction?

We have already viewed in detail the essence of this unique digital asset and discussed its price history. Now, let’s talk about its future price and see how Dogecoin’s future is forecasted. We have taken forecasts from the following three websites, and all of them are optimistic about the future of this digital currency. According to these analysts, Dogecoin will not crash, and its value will increase in the upcoming years.

Digital Coin Price considers DOGE a profitable investment and predicts that it will be traded at $0.18 in 2022, $0.20 in 2023, and $0.23 in 2024. According to its predictions, Dogecoin will hit $0.45 in 2028.

Wallet Investor predictions are a bit more bullish compared to that of the previous two. They consider Dogecoin a profitable investment with a 136% earning potential. According to their predictions, the meme coin can hit $0.30802 in one year and will be trading at $0.975 in five years.

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How Do I Mine Dogecoin (DOGE) In The USA?

Dogecoin uses the same protocol to manage its blockchain, like Bitcoin, called Proof of Work. This means that miners spend substantial computational power and electricity to solve tricky puzzles and are rewarded with a new block.

But, mining Dogecoin is not as complex as Bitcoin; Dogecoin uses an algorithm called Scrypt, which requires fewer resources and less powerful computers. Due to this algorithm, a new block is created each minute and the miner gets rewarded with 10,000 for each block.

To start mining Dogecoin in the USA, you need to find the appropriate laptop for mining. Also, there are certain things to consider in this process, including internals, dimensions, etc. Then you must create a Dogecoin wallet to which you can transfer all your rewards. After these steps, you need to find an app that allows you to mine Dogecoin and start mining DOGE coins.

What Is The Total Supply Of Dogecoin (DOGE)?

Unlike Bitcoin, Dogecoin doesn’t have a finite supply. Its cap is unlimited, which, in its turn, can have a negative impact on its value. The circulating supply of Dogecoin at the time of writing is 131 billion, which increases with over 5 billion Dogecoin each year. It means that every minute of the day, 10,000 new Dogecoins are being issued.

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Things To Consider Before You Invest In Dogecoin (DOGE) In The US

To sum up, Dogecoin is clearly one of the trending cryptocurrencies that won the attention of a vast army of followers, including celebrities, entrepreneurs, and other prominent people. It’s an inexpensive asset to invest in that can attract several newbies in the field of trading. Plus, Dogecoin increased 20,000% from its initial price – a growth that even the leading cryptocurrencies in the market, including Bitcoin and Ethereum, didn’t make over the last years.

Another factor that makes Dogecoin appealing is the recent popularity of meme coins. More and more such digital currencies are created nowadays, but none of them could even be closer to Dogecoin’s value. So, we can surely say that presently, Doge is the leading meme coin in the cryptocurrency market.

While all these characteristics make Dogecoin an inviting asset to invest in, there are certain risks to consider before you put your money at risk. One problem is that Dogecoin is a speculative asset. The cryptocurrency industry is not as well-established as the traditional method we use to pay for goods and services. To make their projects successful, founders try to solve a particular problem through their technology.

But Dogecoin does not aim to do so; it’s a meme coin created in 2 hours and does not offer any innovative ideas to the industry. In this perspective, Dogecoin isn’t a good long-term investment as people can lose interest in this crypto at any time. On the other hand, Doge can be an excellent short-term investment if you buy and sell it at the right time, in large part due to the high volatility, and the relatively low liquidity in the crypto markets.

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