Japanese woman Naomi Osaka already dominates the world of tennis. She has won four Singles Grand Slam titles in the past three years and achieved the title of World’s Best Women’s Tennis Player.
Now she is ready to discover a new area – investing in digital assets. Most interestingly, most of all, Osaka’s attention is drawn to the Dogecoin, which gained wide popularity this year thanks to the active promotion of billionaire Elon Musk. Let’s talk about what is happening in more detail.
Note that the attitude towards Dogecoin among cryptocurrency fans is ambiguous. As the popular Canadian financier and TV presenter Kevin O’Leary said in early August, investing in DOGE reminds him of playing in a casino, where it is simply impossible to predict the outcome of the game. According to the investor, the project has no fundamental value, so it is more risky to get involved with it than with popular projects like Bitcoin, Ethereum or Solana. More details on O’Leary’s point of view can be found in a separate article .
In addition , the July remarks of the project co-founder Jackson Palmer became the reason for the questionable attitude towards Dogecoin . Then he criticized the cryptocurrency industry and made it clear that he considers it a tool for tax evasion and increasing his own fortune. The head of the cryptocurrency exchange Coinbase Brian Armstrong disagreed with him .
At the same time, there are also opposite opinions. For example, the head of the investment fund Three Arrows Capital, Su Zhu, expects a further increase in the price of DOGE. According to him, Dogecoin is almost the only cryptocurrency that investors of any level, including beginners, are discussing. And this supposedly will eventually lead to the formation of another price bubble that we saw this spring.
What cryptocurrencies are bought
According to Decrypt , Osaka is currently “studying the cryptosphere” and considering the most profitable investment options. Here is her quote on this matter, in which the athlete shares the details of the situation.
I previously spoke with my agent about cryptocurrencies. I know that online is getting bigger and bigger. I remember reading about Dogecoin. It will be something huge and exciting in the future that will definitely explode in price.
Accordingly, it was Dogecoin that brought the athlete into the world of digital assets.
Note that Naomi’s conviction should not be taken as an accurate prediction that will certainly come true. Perhaps DOGE will indeed survive another wave of popularity, but no one can guarantee this. Therefore, invest only after doing your own research and take full responsibility for your actions. In this case, the path of investing in digital assets may be longer.
The tennis player is already familiar with the world of digital assets thanks to her unique NFT tokens . In April, she released a collection of unique tokens designed by her sister Mari Osaka, a former professional tennis player. The sales of NFT generated a profit of approximately $ 600,000, and the proceeds went to the development of an Osaka organization called Play Academy.
More recently, one of the series’ unique tokens was put up for sale for $ 200,000, with the original purchaser acquiring it for just $ 5. This case shows how popular the NFT field has become lately, with dozens of celebrities around the world already contributing to its development .
And although some NFTs are already selling for millions of dollars, the trend in the popularity of such tokens does not subside. As the Google Trends platform shows, investor interest in NFTs has increased lately. At the same time, the frequency of searches for the query “Bitcoin” and “Ethereum” dropped noticeably. In this graph, they are indicated in blue and green, respectively.
We checked the popularity of the Dogecoin request on Google. Now it lags behind its May maximum by 16.6 times. And since an asset so quickly falls out of sight of investors, you need to be careful with it.
We believe Dogecoin can truly be considered a phenomenon in the cryptocurrency world. The digital asset attracts mass investors not only with its relatively low price of the token, which creates the illusion of undervaluation among newcomers against the background of other coins, but with the playfulness of the project and its connection with dogs and memes. Of course, Elon Musk also contributed to the growth of DOGE, but the cryptocurrency has been quietly existing since 2013 without him.
At the same time, given the drop in rates and the popularity of Dogecoin among investors, you need to be careful with the cryptocurrency. This spring, she just found herself in the trend of tokens with animals, which led to new course records. It is not a fact that history will repeat itself again.