When Will The Dogecoin Bubble Burst?

In just one week, the price of cryptocurrency Dogecoin (DOGE) has soared from 6 cents to 45 cents.

This move is partly attributed to bullish comments from Elon Musk and Mark Cuban sharing their support, but investors should be cautious.

Savvy investors don’t tell people what they’re doing. Why would Musk and Cuban be boosting the price if they’re still buying it? That doesn’t make sense. There’s a good chance they may actually be selling their holdings in Dodgecoin.

Around 100 People Control DOGE’s Entire $46B Market: Report

Dogecoin has many bubble-like characteristics. There are no traditional underlying fundamental reasons that would justify this move higher.

Bubbles are very difficult to predict, however, and they can get bigger and last longer than most think they will.

But they all have one thing in common: They all burst. Not if, but when.