Prominent stock picker Jim Cramer has poured cold water on meme cryptocurrency Dogecoin during today’s market breakdown with The Street:
Sorry, I’m not gonna do that one. I’m a seller of Dogecoin.
A growing cadre of analysts is raising alarm over the joke cryptocurrency whose monstrous gains keep grabbing headlines.
As reported by U.Today, financial commentator Gary Shilling opined that the cryptocurrency would “end badly” last week.
Dogecoin, which has gained endorsements from Elon Musk, Snoop Dogg, and even major companies like Newegg, is currently up 4,472 percent in 2021.
Cramer still holds Bitcoin and Ether
Cramer says that he owns Bitcoin and Ethereum, describing the two largest cryptocurrencies as “great storeholds of value.”
Recently, CNBC’s superstar anchor sold half of his Bitcoin stash and called the top coin “phony money,” inevitably riling up the community.