Should You Sell Dogecoin And Take Profit Or Hodl And Wait For 'Moonshot?' Meme Coin's Creator Says This Is How He Would Play It

Dogecoin DOGE/USD co-creator Billy Markus has advised investors to trade in the meme cryptocurrency similar to how he plays casinos.

What Happened: Markus took to Twitter to say that Dogecoin investors should take enough profits that they don’t go insane when the cryptocurrency’s price falls, but should also have enough money for a “moonshot” to buy Dogecoin when its price surges.

See also: How to Buy Dogecoin (DOGE)

IMO people should take enough profits that they don’t go insane if it goes down and still have enough for a moonshot if it goes up. That’s how I play casino - if I’m up I’ll keep what I put in + some profits and play the rest with house money.

— Shibetoshi Nakamoto (@BillyM2k) July 26, 2021

The Dogecoin co-founder’s advice found support from the Dogecoin community.

I’ll admit that this is what I did on my birthday (May 7th) …now I’m just having fun reinvesting in some of the dips and riding the roller coaster

— cyn (@cyn_dogelover) July 26, 2021

See Also: EXCLUSIVE: Dogecoin Rise On Working With Brands, Supporting Doge Community, Elon Musk And More

Why It Matters: Markus’ comments assume significance as cryptocurrencies, including Dogecoin, are seeing high volatility in recent days. Over the last 30 days, the meme coin has fallen 13.4%. However, the Shiba Inu-themed cryptocurrency's year-to-date gains stand at 3,607.4%, as of press time.

The price of Dogecoin and other major cryptocurrencies rebounded on Sunday evening amid speculation that e-commerce giant Amazon.com Inc. AMZN is looking to accept apex cryptocurrency Bitcoin BTC/USD by the end of the year.

Markus had noted last week on Twitter that “nothing is guaranteed” when it comes to cryptocurrencies, citing examples of the historical prices of Ethereum ETH/USD to make his point.

Price Action: Dogecoin is up 7.6% during the last 24 hours, trading at $0.2093 at press time.

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