Could This Token Dethrone the USD? 💵
Elon Musk loves this crypto — and so do we! 🥰
Note: Please read our disclaimer at the bottom of the article.
#StrongHands 🙌 #BOP 🚀 Nation Update ️️️️️️️️️️️️️️️️️️️❤️️
Hi, I’m Paul Mampilly.
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Paul: DOGE Surge 🚀 Incoming
Last week, I laid out my thesis for Ethereum USD (ETH-USD), and this week I’ll discuss another crypto token: Dogecoin USD (DOGE-USD).
Now, many people see DOGE as a bit of a joke.
But in my opinion, that’s a mistake.
You see, DOGE has the two most important elements for a currency: widespread recognition and liquidity.
DOGE is known worldwide as the original memecoin.
It’s also widely associated with Elon Musk, who’s said that he owns DOGE — and that Tesla Inc. (Nasdaq: TSLA) owns it.
The People’s Crypto 🫡
Musk claims he was turned on to DOGE because his staff at SpaceX owned it. He calls it “the people’s crypto.”
He also believes that DOGE has immense potential as a fiat currency. And I believe he’s absolutely right.
A fiat currency is a one that’s not backed or collateralized by any asset, possessing unlimited supply characteristics.
In other words, it’s no different than the U.S. dollar (USD).
Take a Look at This 👀
In fact, DOGE trades over half a billion per day on crypto exchanges worldwide.
That makes it more liquid than the vast majority of fiat currencies issued by nation states.
Only the biggest fiat currencies issued by major countries see higher trading activity.
And when we look at the issuance of DOGE, it compares favorably to even the USD.
For example, below is its issuance since inception:
As you can see, DOGE’s issuance since its inception in 2014 is approximately 146 billion units.
In the same time frame, USD issuance has rocketed higher to nearly 2.4 quadrillion units.
DOGE vs. USD 🥊
Now, I doubt that most people will take my comparison of DOGE to the USD seriously.
Still, facts are facts.
DOGE is a liquid, fiat currency with the same characteristics as any other: global acceptance, liquidity, unlimited supply, no backing.
In certain aspects, DOGE is even better than the USD.
First, every transaction is recorded on the blockchain.
That means every DOGE unit is accounted for, recorded, and permanently stored on the blockchain — unlike USD transactions.
Second, the circulating supply of DOGE is verifiable to anyone at any time on the blockchain.
No fiat currency can truly demonstrate how much currency has been issued or is in circulation.
Third, it’s cheaper to send DOGE around the world than the USD.
Benefitting From Crypto 🪙 Adoption
Bottom line: Most people are underestimating DOGE’s potential to become a major cryptocurrency.
I believe it has all the characteristics it needs to be an excellent fiat crypto.
If that’s right, we’ll see DOGE bid up again as people buy in and bid it higher in the next crypto cycle.
Finally, DOGE has a history of tracking Bitcoin USD (BTC-USD) with a lag.
That’s because it benefits from an increase in BTC’s price and crypto adoption.
In the last cycle, DOGE made it to a high of nearly $0.74 USD.
So, how high could it go in the coming cycle?
I believe it will surpass $1 and see highs near $3.
We think crypto investments will be among the most rewarding opportunities in the next one to three years.
That’s why we own DOGE, along with many high-potential cryptocurrencies across our ATG portfolios.
For access to them all — and any future crypto picks — consider joining our ATG Digital services today by clicking here!
2 Real-Deal 😎 Picks
Looking for solid AI plays? 🤖
Look no further than Silver Tier stocks Teladoc Health Inc. (NYSE: TDOC) and Zoom Video Communications Inc. (Nasdaq: ZM)!
These are companies with AI at their core . . .
To hear why we’re such big fans, watch Dan’s YouTube video:
Again, both of these stocks are housed in our Silver Tier model portfolio. 🔥
For updates on them — as well as trade alerts and access to the rest of that portfolio — consider joining for just $9.99 per month!
#GBC100: September 23, 2024
The #GBC100 is down 0.22% today.
Created on September 22, 2022, the #GBC100 is an index/portfolio comprised of opportunity, growth, innovation, and crypto-related investments.
Our goals with the #GBC100 are twofold . . .
First, we want readers to get a sense of what our investments are doing in the market, because they can sometimes perform very differently than traditional indices (like the S&P 500 or Nasdaq 100).
Second, we’d like to eventually turn the #GBC100 into an ETF.
That way, instead of owning hundreds of growth stocks, you can get exposure to ATG Digital thinking — in opportunity, growth, innovation, and crypto — all in one place.
To learn more or to express your support for the launch of an ETF (by completing a poll), click here.
Tomorrow: Dan will discuss one stock seeing some action . . . 💥
Fall is officially in full swing! 🍂
And we’re looking forward to all the seasonal fun . . . 🥧
Picking apples, baking pies, having bonfires — and helping ATG Nation find success in the market. 😉
After all, that’s what we love to do all year long!
On Monday, September 23, 2024, we hope you’re having a wonderful start to the season. 🫶
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What you read/watch/hear is OPINION, not financial/investment advice. Treat it no different than when you read/watch/hear your favorite author/YouTuber/podcaster. Despite our best efforts, we get things wrong and make mistakes. Investing is risky. There is no guarantee you will make money. Your investments may lose value. That’s RISK. Past performance is no guarantee of future results. Employees, contractors, and owners of ATG Digital, LLC own/trade/transact in the stocks, options, and crypto that are the subject of our trade alerts, updates, reports, and commentaries. We cannot give you personalized financial advice because we are NOT financial advisors. It’s on you to decide how much/when/what to buy/sell based on YOUR financial needs, plans, and risk preferences. There are no guarantees. Loss of your capital is an outcome that you should evaluate carefully with a financial advisor before you trade, speculate, or invest. It's your money and your responsibility.
BOW WOW DOGe 🐕