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Dogecoin has the potential to be a lucrative short-term investment. If you had invested in mid-January and sold at just the right moment, you could have made a lot of money. However, short-term investing is incredibly risky, and it's a great way to lose a lot of money. For traders looking for outsized returns, the hunt for power hour stocks usually starts right about now. Power hour is loosely defined as the last part of the trading day. Many traders focus a significant amount of attention on the last trading hour of a given day. People have indeed made plenty of money from buying Dogecoin, and although it was very much initially intended as a joke currency, if you can afford to put a small amount of money into it then it might not be such a bad idea. It's important to remember that Dogecoin is only worth what people invest in it. And the cryptocurrency isn't worth a lot so it's not really meant to make money.

According to Benzinga, Dogecoin is actually about a global movement to make memes soar to the moon.

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Join Benzinga's CEO Jason Raznick & ''Hot Stocks'' Luke Jacobi to hear some of the stocks we love & hate. Get the rundown on the hottest trades and stock ideas!

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Join Benzinga's CEO Jason Raznick & ''Hot Stocks'' Luke Jacobi to hear some of the stocks we love & hate. Get the rundown on the hottest trades and stock ideas!

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4/7/21 Join Benzinga's CEO Jason Raznick & ''Hot Stocks'' Luke Jacobi to hear some of the stocks we love & hate.

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Chris Miglino, CEO and Founder at SRAX | $SRAX

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4/6/21 Join Benzinga's CEO Jason Raznick & ''Hot Stocks'' Luke Jacobi to hear some of the stocks we love & hate.

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4/5/21 Join Benzinga's CEO Jason Raznick & ''Hot Stocks'' Luke Jacobi to hear some of the stocks we love & hate.

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