Ethereum Co-founder Charles Hoskinson Calls DOGE COIN a Bubble
Ethereum Co-founder Charles Hoskinson yesterday took a dig at DOGE Coin for its inflated prices, claiming it is a bubble that will burst eventually attracting regulators attention. He blamed Elon MusK and some market whales for the recent price rally. Hoskinson argued that Dogecoin doesn't have a stable development team and coin is not adequately equipped to handle regulatory and security issue that may arise.
The Cardano founder shared his opinion in a you tube video. He said:
DOGE has always been for our industry kind of a an inside joke, a pet rock, a fun mocking cryptocurrency, and a light-hearted thing.
Hoskinson even suggested people should dump their DOGEs and make profit while they can.
If you’ve made money, great, but get the hell out of it! It’s a bubble, it’s not real, there’s nothing sustainable there.
Over the past few months, there have been an exponential rise in DOGE price mainly driven by Elon Musk. The currency touched 0.395$ on April 19, it's all time high. Currently it is going at 0.28$.
So the question is whether to invest in DOGE or not??? Well, DOGE came into being as a mockery to bitcoin and is susceptible to extreme market fluctuations and manipulation, so investing big for long term is certainly imprudent. But having said that, short term profit taking never hurts...
PS: Not a financial advice!
Posted Using LeoFinance Beta
