Both Ethereum Classic (ETC) and Doge Coin (Doge) have been taking the cryptocurrency market on a roller coaster ride over the past few weeks.
More recently, the surprising rise of ETC as well as the resurfacing of Dogecoin after tanking out at 0.42 and again at 0.69 has left crypto users confused when a dip or ATH is expected. As such, given the current situation which is the coin you should be on?
It is not far from the truth to say that the rise of Dogecoin is fueled by rumors more than actual user cases. If we are to follow this thought to predict what would happen next, then today’s SNL TV show featuring Elon Musk will likely fuel the coin further. As simple as that might sound, it is normal to think that many early investors would look at this time to sell as it could be the peak they have been waiting for. And it is true that this is possible because despite the Doge Coin bringing a new breed of investors into the cryptocurrency world, recent statistics show that the largest DogeCoin holders is still a selected few only.
So is Dogecoin still a safe bet or would the less turmoiled Ethereum Classic be a safer bet?
The sudden rise of ETC in the past week has many users thinking if they should jump onboard of if the ship has sailed already. While the rise has some technical backing behind it, it is not without reason to say that there is some room for a dip before the next ATH. So it might be a good crypto coin to keep a look out for especially after the Dogecoin saga may unfold further today. If all things work out well for DogeCoin it might be a good idea to consider hodl. Otherwise, there is always plan B to scoop up some ETC at the next dip.
Now this information does not constitute investment advice, financial advice or trading advice. We don’t recommend that any cryptocurrency should be bought, sold, or held by you so do conduct your own due diligence and consult your financial advisor before making any investment decision.