Dogecoin was literally created as a joke. Before the January dip doge was worth over 1.000.000.000 dollar! Cryptocoins are in a bubble right now. This is a nobrainer imo. Once people realise doge is not worth almost 1 billion dollar this coin will drop >80%. The question is not if it will crash but when. Only problem is, you can't short dogecoin long term. So it's not possible to capitalise on this idea. There are no futures on this coin. If i could i would buy long dated puts. Don't know how low this can go in the near term. It depends how the cryptocoin market behaves. Most coins are heavily correlated to each other.
Note
Bitcoin is still in a downward trend dragging other coins with it.Trade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.