Is Dogecoin A Good Investment? Expert Suggests Avoiding Controversial Cryptocurrency Market – CBS Detroit


(CBS Detroit) — Dogecoin started as a joke, but it is real money now. At least the meme cryptocurrency is worth real money. Exactly how much real money varies from day to day, or even hour to hour. The cryptocurrency started 2021 valued at a penny, and peaked in early May at $.74. Currently the sixth biggest cryptocurrency in terms of market capitalization (the market value of all the Dogecoin available), it closed Thursday at $.40. Trading most days is fairly volatile.

What Is Dogecoin?

Dogecoin is a kind of cryptocurrency, like Bitcoin, Etherium and many others. According to David Kirsch, Associate Professor of Management and Entrepreneurship for the University of Maryland’s Robert H. Smith School of Business, “cryptocurrencies are basically pieces of software that are algorithmically controlled or algorithmically defined. And the functioning of the algorithm establishes value for the holder of the code. There’s fiat currency, and then…

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