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Famous trader Scott Melker shares secrets on Dogecoin trading

2 min read

TL;DR Breakdown

  • Dogecoin history is very eventful. 
  • Dogecoin has gained increased popularity recently. 

Scott Melker, a very influential person in the crypto world, has recently given tips and strategies for the so-called meme coin. In an interview with the insider media, the crypto expert said that a more considerable percentage of his portfolio consists of lasting trading strategies.

What to know about the meme coin?

Dogecoin has many names it is referred to as like meme coin, joke coin, and many others. This “joke coin” was introduced by two software engineers Billy Markus and Jackson Palmer, back in December 2013. DOGE was initially introduced as a joke. The coin has an image of a Japanese breed dog Shiba Inu. Contrary to the expectation of the co-founders of the coin, the meme coin attracted a significant number of investors in the crypto sphere. Dogecoin is currently in the list of the top ten digital assets.

Towards the end of 2017, Dogecoin’s participation in the digital asset bubble made the coin record a significant surge; however, in 2018, the coin recorded a considerable drop in its value.

What Scott Melker highlighted concerning DOGE

During an interview with the insider media, the crypto investor Wolf of all streets said that investing in small digital assets like DOGE cultivates massive profits of which many people do not believe is possible. He added that those who are clever enough to pick the small digital assets could make 100 times their investment in just a week.

Using joke coin as an example Scott Melker, said that the joke coin was famous even before Tesla CEO activities. During an era, investors were getting massive profits even higher than the coin value before dropping.

The meme coin has caught up the public’s attention for some time, and it is slowly leading to a drop in BTC popularity on the media platforms.

In this year alone, Dogecoin has a record a significant surge of about 6,800% and in about 13,561% in the past year. Currently, Dogecoin is trading around $0.33, a drop of 15% compared to yesterday’s values.

Famous trader Scott Melker shares secrets on Dogecoin trading 3
Source: Statista

Scott once owned  $10M meme coins

When BTC dropped some months ago, Scott Melker began to trade against the all-time digital asset. He invested in the meme coin, although the value was just cents back then. He said there reached a time Dogecoin surged almost 70 times original value. He said at the time he made $10 million just from trading DOGE.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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