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Want To Short Dogecoin? Unthinkable — But Here's How You Can

April 15, 2021 11:37 pm
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Want To Short Dogecoin? Unthinkable — But Here's How You Can

Dogecoin has seen a parabolic rise throughout the past week, going all the way from $0.0617 to hitting an all-time high of $0.2917 late Thursday —  a rise of about 373%. This absurd rise has many investors asking, “How can I short this meme coin?”

Investors are able to buy a 3x leveraged short coin, called Dogebear, on the crypto exchange FTX. The Dogebear coin is currently worth $0.0000000077. The leveraged coin means that if Dogecoin drops 10%, Dogebear will rise 30%.

One hurdle is that FTX is not currently available to U.S. residents.

FTX does have a US website — https://ftx.us/en — but Dogebear is not available on that site. Additionally, you have to purchase Bitcoin (BTC) or Ethereum (ETH_ through a separate exchange and then transfer it to FTX, making the process cumbersome. 

See Also: How to Buy Dogecoin (DOGE)


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