Dogecoin trading strategy for DogeEthereum Bridge

With the Dogeethereum bridge coming up soon and Dogecoin up close to 100% since before this week, its time to consider what to do with your Dogecoin, especially if you bought in just before this week. The September 5th test could have big ramifications for the price of Dogecoin based on how it goes. I believe if it goes well, the price may remain fairly stable or may even go up a bit but if it doesn’t go well, the price could drop a lot due to delays in the Dogeethereum bridge launch date. If you bought in at 39sats before this week, selling would not be a bad idea as it would represent almost 100% profits and then you could look to buy in after the price has dropped a little bit. If you bought in at the height 2 days ago, you almost have to hold it and hope the bridge launch goes well. This is not the best prospect, but I don’t think its a horrible one given that I think DOGE has a good long term future. However, if I bought in early, what I would actually do is sell half of my holdings, take some profit and wait with the other 50% for the large potential in the case of a very successful launch. Since there is news of Coinbase potentially adding DOGE and Yahoo finance already adding Doge, there is a chance that DOGE won’t be coming down in price anytime soon. Selling half means that you already regained everything you bought in for if you bought in earlier this week and you still leave yourself a lot of room for potential growth if there is more good news to follow.

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