More

    Expert Shares Bitcoin, DOGE, PEPE Investing Strategy At Bloomberg Event


    The crypto market has always been known for its volatility, but this is particularly true when it comes to meme coins like Dogecoin and Pepe. These coins are highly speculative and often lack any intrinsic value, which makes them subject to extreme price swings.

    Dogecoin, also known as DOGE, hit its lowest price when it briefly attained a price of $0.0000869 on May 7, 2015. On the other hand, it attained its highest price on May 8, 2021, with a price of $0.682 per Dogecoin. Its price has fallen significantly in the last 7 days, down by 7.29% but still has a market cap of $10,137,034,921.

    Similarly, the price of the PEPE token has also been highly volatile. It is down 10.96% in the last 24 hours despite the 500% surge in the past two weeks. The price of PEPE has already lost 50% of its maximum value just after the largest crypto exchange Binance announced the listing of the meme coin. Since then, the price of PEPE has decreased rapidly from $0.0000044 to $0.0000022, currently $0.000002003.

    What Helps With Crypto Volatility?

    Given this extreme volatility, it’s important for investors to approach meme coins with caution and follow sound investment principles. This is where Venn Link CEO Cici Lu’s advice on the crypto portfolio needs a spotlight.

    At the Bloomberg Wealth Asia Summit 2023 in Hong Kong on May 9, 2023, Venn Link CEO Cici Lu shared her thoughts on the volatile nature of crypto assets.

    According to Lu, “When it comes to investing in crypto assets, it’s really important to have diversification and active management.”

    She emphasized that diversification and active management are key principles that investors should follow when investing in crypto assets, particularly in the volatile meme coin market.

    Different crypto assets often react differently to market changes, so diversifying investments across them can help mitigate losses. Active management involves regularly monitoring and adjusting investment portfolios in response to market changes to maximize returns and minimize risk.

    In the case of meme coins, diversification can mean investing in other cryptocurrencies with more established track records and less volatility, such as Bitcoin and Ethereum. By doing so, investors can reduce the risk of putting all their eggs in one basket and suffering significant losses.

    CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

    The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





    Source link

    Latest stories

    - Advertisement -

    You might also like...