Founder of Gokhshtein Media and well-known cryptocurrency influencer David Gokhshtein recently discussed the investing possibilities of the two largest canine-themed coins, Dogecoin (DOGE) and Shiba Inu (SHIB).
Gokhshtein recently tweeted that 50% of the cryptocurrency investors he knows have made more money investing in Dogecoin and Shiba Inu than Bitcoin (BTC).
He stated:
“Half the people I know made more gains on DOGE and SHIB than BTC.”
Gokhshtein stated that even if he has no problem obtaining Bitcoin and Ethereum, he will always diversify his holdings by purchasing additional cryptocurrencies that have the potential to generate greater profits.
“I’ll keep collecting $BTC and $ETH — but my ass is going to continue to diversify my positions,” he said.
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Gokhshtein reiterates that diversifying one’s portfolio is essential for succeeding in the cryptocurrency industry.
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DOGE and SHIB Made a Lot of People Sudden Millionaires
From their all-time lows, all of the cryptocurrencies Gokhshtein highlighted have experienced phenomenal increases (ATL).
Bitcoin’s value has risen dramatically, rising from a pitiful amount to an all-time high (ATH) of $69,044. However, few individuals were fortunate enough to purchase BTC for a discount.
The same cannot be true with Dogecoin and Shiba Inus, though. Many people with average incomes become millionaires overnight because of the two canine-themed cryptocurrencies.
About Dogecoin and Shiba Inu
The richest man, Elon Musk, was alerted to what had first been intended as a joke, and his tweets caused the token’s price to reach an all-time high of $0.73 in May 2021.
Most of January 2021 saw DOGE trading at less than $0.01 per share. The widespread usage of cryptocurrencies had already begun during this time.
Before DOGE began its run to $0.73, many people had the opportunity to buy the stock early.
Shiba Inu, which debuted in August 2020, was also unprofitable at the time. On November 28, 2020, SHIB experienced a massive economic collapse brought on by the coronavirus pandemic, with an ATL of $0.000000000056366.
Shiba Inu rose to fame a few months after Ethereum co-founder Vitalik Buterin contributed $1 billion worth of SHIB to a COVID-19 relief fund for India in May 2021.
Shiba Inu was widely adopted as a result of the action, and the token rose to a high of $0.00008616.
Both assets are anticipated to reach their prior highs over the following bull cycle, even though they have both declined from their ATHs.
Following Musk’s takeover of the social media site, it’s predicted that Dogecoin will replace Bitcoin as the preferred currency on Twitter.
Since the previous week, the price of cryptocurrencies has risen. However, other programs could accelerate Shiba Inu’s popular adoption in the upcoming months.
The post Gokhshtein: More Gain from Dogecoin and Shiba Inu than Bitcoin appeared first on FX Crypto News.
