What are the Profits from Investing in Dogecoin Cryptocurrency?

Dogecoin (DOGE) is one of the cryptocurrencies with the largest market capitalization. According to Coinbase data, DOGE's market capitalization reached Rp 488.8 trillion on November 12, 2021.

Based on Coindesk data, DOGE was traded at US$ 0.2628/coin or Rp 3,732/coin (using an exchange rate of Rp 14,200/US$) on Friday, November 12, 2021, at 7:25 WIB. This value increased by 3.4% from the previous closing price.

In one month, the price of the cryptocurrency with the code DOGE has increased by 13.7% (month-to-month/m-to-m). The increase reached 9,682.63% in the last year (year-on-year/yoy).

Compared to its position on December 31, 2020, the price of Dogecoin has also increased more than fivefold, or 5,568% (year-to-date/ytd). This increase is quite fantastic compared to investing in stocks, bonds, or commodities.

However, the price of Dogecoin has fallen by more than 60% from its highest level of US$ 0.7223 on May 8, 2021. This means that investing in cryptocurrencies offers great profit opportunities, but the risks are also significant. Therefore, investors must remain cautious in determining their cryptocurrency portfolio.