Dogecoin Surges – Will it Keep Going?
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Dogecoin surged more than 50% this evening as the Coinbase direct listing looms tomorrow.
Ironically, Coinbase doesn’t support Dogecoin trading, but the sudden surge in Doge is likely due to the increased interest in cryptocurriencies this week.
While Doge will likely sell off for a bit, Wednesday will be a big day for many cryptocurrencies. We expect there to be large retail interest in Coinbase stock ($COIN) as well as Bitcoin, Ethereum, and other crypto. Because of Dogecoin’s meme power, I would not be surprised to see it explode again tomorrow and reach even higher all time highs.
If you’re bullish on a large swell in crypto trading tomorrow, the best strategy is to pick up a few altcoins that may get some attention. Keep in mind that many are very risky, so don’t invest more than you could stand losing. Check out some of the top gainers over 24 hours here:
We previewed the Coinbase direct listing in Monday’s edition of the Alpha Letter