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Why This Trader Has a Problem With Dogecoin

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Elon Musk, CEO of Tesla, has been very vocal about Dogecoin. 

So vocal, in fact, that he even tweeted that if "major Dogecoin holders" sold "most of their coins" then it would "get [his] support."

And the discussions around Dogecoin as Bitcoin hits record highs of $50,000.

Cryptocurrency, in general, has managed to gain the attention not only of r/WallStreetBets--the subreddit that became famous for the GameStop short squeeze, but is used by younger daytraders and investors to share thoughts, wins, losses and ideas around various stocks and even cryptocurrencies--but also the masses in the past couple of years. 

Kenny Polcari, managing partner at Kace Capital Advisors, weighs in on Dogecoin versus other cryptocurrencies.  

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