A Biased View of Why is Dogecoin shooting higher this week? - USA Today

But there's an essential general trend to note. It ends up that retail investors are still trading crypto, a lot! Coinbase Worldwide, which enables the trading of cryptocurrencies, reported quarterly financial outcomes earlier today. The company said that month-to-month transacting users (MTUs) on its platform increased a whopping 44% just from the previous quarter.

According to the website Coin, Market, Cap, Dogecoin is the world's seventh-largest cryptocurrency by market capitalization. Therefore, as more people begin trading crypto, Dogecoin is likely high up on their list of coins to purchase. Previously, financiers could not trade Dogecoin on Coinbase, but the business started supporting the cryptocurrency on June 3, opening the door for Coinbase's almost 9 million MTUs.

Now whatCryptocurrency investors are actually questioning where Dogecoin is going from here. But the answer is fiercely discussed. A business called Finder polled 42 cryptocurrency experts to get their take. The survey found that 80% believe Dogecoin is a bubble. But some of those specialists think the price will continue to head greater this year before the bubble pops next year.

A closer appearance at Finder's survey results reveals a vast array of opinions, consisting of Dogecoin being practically useless by the end of the year. In other words, the so-called professionals are exceptionally divided. But here's the important things: They're divided since nobody (including you and me) actually knows with any reliability what the future holds for Dogecoin.

In contrast to stocks, it's tough to develop a strong conviction in a Dogecoin financial investment. You can develop strong convictions with stocks since they represent ownership stakes in a real-world organization. It's far much easier to predict the future money flows of a company that has a great deal of recurring income.

That's not the case with cryptocurrencies like Dogecoin. That does not imply Dogecoin can't go higher it can. And it definitely doesn't imply don't purchase cryptocurrencies. Research It Here indicates to ground your level of conviction in truth and invest accordingly.Jon Quast has no position in any of the stocks discussed. The Motley Fool has no position in any of the stocks discussed. What Is Dogecoin? Dogecoin (DOGE)is a peer-to-peer.