It’s important to remember that to invest in Dogecoin is the same as investing in any other vehicle: you need to do your research and set up realistic expectations.
Dogecoin IS at a very high value (as of this writing). It does not have the revenue of stocks supporting its market capitalization (in other words, Dogecoin is fueled purely by investor sentiment).
To buy Dogecoin, you’ll need to open an account on a cryptocurrency exchange. This exchange is an online place where buyers and sellers meet to buy-and-sell cryptocurrencies.
Before buying any crypto-currency or making trades, you’ll need to deposit some money in your account. Most exchanges will let you deposit money directly from a chequing or savings account.
Some people prefer to keep their coins in a cryptocurrency wallet (or blockchain wallet). These are designed to prevent thieves (hackers) from stealing your digital money like genuine wallets.
Though Dogecoin is not a fiat currency (and blockchain IS considered “untraceable” with anonymity), you’ll likely need to pay capital gains tax if you make money online when selling it.
As always, be sure to do your research before making any financial decisions. That being said, once you’ve decided on an appropriate amount to invest, don’t be afraid to dive in.