Be cautious with DOGE and WIF: In-depth analysis before investing
When you consider buying DOGE or WIF, your original intention is definitely to make a profit.
Before deciding to invest in these high-profile "meme coins", there are a few key information you must know.
Market data as of June 27, 2024 shows:
Dogecoin's current market value is as high as over $18 billion, and WIF's market value is also over $2 billion.
Imagine if you choose to invest in WIF at this moment and hold it until its market value reaches the current level of Dogecoin, your return on investment will soar to over 800%!
Looking at Dogecoin again, compared with its previous all-time high of $0.731, DOGE has now fallen 83% and is currently trading at about $0.124.
If you invest $500 in DOGE at the current price, you will get about 4,100 DOGE. If you sell it at Dogecoin's all-time high, you will get a profit of up to $3,050.
Similarly, if you invest $500 in WIF at the current price of $2.1 and sell it at its all-time high of $4.8, you will get $1,140.
Obviously, DOGE is a better choice for investors seeking short-term returns; but if you look at long-term investment of 2-3 years, WIF has more potential.