Bitcoin Forum

It appears Elon Musk has trolled the Dogecoin community. This might have also caused the number of bagholders to increase which might also cause an increase in the number people in the Dogecoin community hehehehe.

In any case, this might also only be a distraction from the bad news that Tesla was summoned by Chinese regulators for consumer complaints on quality. The skeptical me also thinks that the summon might also not be just caused by consumer complaints. There might be more behind the story.

https://i.ibb.co/RGw51kt/CAA83297-D259-4-B5-D-A476-5-D22-B56-E7-E13.jpg

If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue imo.

Source https://twitter.com/elonmusk/status/1361094185412100096



"Chinese regulators summon Tesla on quality issues as consumers complain about quality ... but $TSLA bought $BTC," the Scion Asset Management boss tweeted, using the tickers for Tesla and Bitcoin. "In my mind's eye, so much #digitalconfetti."

Source https://markets.businessinsider.com/currencies/news/big-short-investor-michael-burry-questions-tesla-bitcoin-dogecoin-bubble-2021-2-1030059706

Yeah well what do we expect will happen to a heavily shilled coin by a business guy who only think of how to maximise profit,  Elon tweet (something positive) people go into doge shopping frenzy, Elon tweet (not so positive) dogecoin bag holders go ballistic and want to dump the market to hell,

At least he is ready to support (probably buy off their bags) whenever they want to dump, am beginning to wonder if Elon influence on dogecoin is healthy for the continuous survival of the project.

Well by now we should all know that Elon is just trolling us with with Dogecoin tweet. But there are still group of people who thinks that Dogecoin can reach $1.00. Not saying it won't happen, but the reason of the price increase was obvious pump and dump scheme and sooner or later it will crumble down very hard for investors.

So why not take profits already and don't be fooled by Elon here.

@Anonylz - I would say that it is not healthy for the survival of Dogecoin.

I believe he can only do that for those kinds of coins and not for Projects like Bitcoin and Eth etc. Do you think even Elon Musk will be able to tell the BTC community that they need to reduce or sell most of their bag so that he can support? They Invested in BTC then told the world they've invested even though that announcement moved the price which is expected from heavyweights like him, I think this his continuous shrill of Dogecoin will reck most of the HODLers.

With his series of tweets, Elon Musk did free advertising for Binance, and Binance earned obscenely much on MM DOGE and commissions (record trading volumes), apparently using part of the income on BNB. All in all, another bullish factor for those holding the bottom.

*I'm not saying this is bad but Doge's price really down because of his tweets...
Doge is already experiencing a big bullish because of his tweets which makes an absurd ATH. I love Doge, of course, Doge is good for long term Hodl imo. *This reduction in price is an opportunity to buy

The market reacts to everything he tweets and it is becoming a joke, i do not mind him shilling the coin so that the market pumps but then to come out and say the opposite a few days later is not the way he continue to manipulate the market and may be that is what he is trying to prove ;D.

Doge coin does not need any support from anyone to survive, the only thing the project needs is from the developers to update the software and it is two years since the developers made any changes.

Hope his next tweet wont be something negative Bitcoin related. Elon Musk showed the world he could easily conduct cryptocurrency mood. On one hand this is good, on the other, it such powers can be dangerous. Hope he wont lose his mind (specially after smoking) and do ridiculous decisions, which he could easily hand, but rest of us will in deep trouble.

Lol, now it started to dump and we know Elon was just shilling DOGE, those who ride with the FOMO shall complain but will Elon be liable on that? We are in the crypto market and this is a highly speculative market, what's wrong with Elon's telling his opinion about a certain coin? What's wrong if he invested on it or not and telling people to buy though not directly?

It is our fault, we got FOMO'd and now we regret. let's face it.

If you know what's good for you sell your Doge coin If you've already make enough profits, elon musk isn't into crypto and he knew less about it, there are many examples like him in the past crypto histories

Wait, if you read the reply, Elon said
Looks like, this mean if dogecoin get dump, Elon will support it, so it doesn't fall deeper.
I'm not sure, but that's what i catch, i might be wrong tho.

It is logical that, that is better.  Having 1000 holders with 1 coin is better then 1 holder with 1000 coins. It is bad for the price since price of coins with many owners is lower then price where few people hold most coins and hold them. Those big holders always makes fear that they will dump. It is same with Bitcoin. Until Satoshi will spend his coins there will be constant fear that he can tomorrow sell his coins. He should do it ASAP to cancel that fear and to allow people to get cheap Bitcoins so more people could afford them. 

Hearing this news, as a Dogecoin holder, I am naturally very worried about Dogecoin and its price.
Elon musk has made changes to Dogecoin as well as negatively impacting Dogecoin holders in the event of a decline in the initial price of Dogecoin.
I'm not quite sure Dogecoin will ever hit the price of 1 $.

Your question, is a question mark that often crosses my mind, with the situation DogeCoin is often a ping pong ball game for big business people, isn't this very irrational based on the definition and purpose of cryptocurrency. but hopefully that question will be answered with an answer that doesn't disappoint. because no matter how his business is for him, it is very difficult for us to pursue and well understand the path he is taking for the future of DogeCoin.

That's it. He has become a full McAfee.

I hope he keeps doing this and have his fun.

The SEC will probably have to interfere at some point.

I hope elon musk realises that he is in a position where a simple tweet of him has big impacts on the life of some people.
First he tweets something positive about dogecoin and makes a lot of people very happy with nice 10x.
Now probably a lot of people bought into dogecoin because of his recent shills and the associated media exposure and now he is criticizing it make the price dump 20%.

That's the thing, people should not rely on Elon Musk's tweet to invest in a coin, you could trust his judgement to an extent, being the successful business man that he is, but simply copying him by investing in whatever coin he tweets about is a wrong way to invest. Elon Musk could also be manipulating the market to his favor, and being the billionaire that he is, he could very well easily do that.

I do not have any dogecoin, neither will I hold or dump any coin cause of someone's tweet, I hodl btc cause I believe in the Bitcoin network, and there's no sort of positive publicity that'll make me invest more than I can afford to lose, neither will there be any negative talk/tweet, that'll cause me to dump, that's how investors should be, invest in coins that you can trust their ecosystem.

They are playing with us.They made their profit but we can't make profit because of them. Its like that the whole countries investors is in his hand and he can start and stop play anytime. His behaviour a bit of suspicious. I think he is pumping price of crypto after buying in cheap price after that when people see his tweet and invest those project and pump the price then he sold his investment. And then he tweet again to sold their coin then they all are trying to sell and price gone down. Then he might buy again. Maybe he is playing this mind game with us😔😔😔

Issues are very easy to pack, but unfortunately people who accept these issues immediately think negatively. Dump done on Dogecoin today proves they lack confidence in trading principles. I think Elon is making contracts with many countries regarding the Tesla company.

I believe that Elon doesn't need to "change the topic" on anything, Chinese consumer complaints could be sky high and nobody in the entire world would care about it, hell these are the same people that kill and murder an entire race of humans in their nation, I couldn't care less if all the Tesla cars in china didn't had breaks and killed anyone that rides a tesla in that nation and I am not even joking.

So, Elon could just do whatever he wants in china and west should not care at all, after years of low quality stuff chinese sold as counterfeit of the original brands, nobody would really care about what is going on there. However he doesn't say anything bad here for doge neither, he says there are too many people who hold too many dogecoins and he can't get in 100% into it, which is why I think he just wants to make it a bit more decentralized by distributing the coins equally to people.

At the end it didn't really dumo that much so I wonder what wil happen next. Well he didn't say anything bad about doge so it doesn't need to be much noise about it yet. We will see what will happen in near future.

I think look break now for doge coin and I think he wanna make many trader and investor panic for selling doge coin but he wanna buy, many trick make by some one how to get much profit with their investment, make fud and give bad news then he can buy coin with lower price, later when have any coin assets on their hand will make good news to make many people interested to buy but he want to sell coin.

He want dogecoin to distributed well, and i dont think those holder will give it in easy way, but one thing for sure, elon is really interested to this coin, he want to pay big holder with his real $ just to void the wallet not to own the bag !!. He knows what people does not know about doge and its potential.

Tried to check out the market of Doge and it is indeed still on the good side yet it is starting to cling up again after some correction.When it comes to those issues

that pop-out from nowhere then this isnt something that still surprising into this market specially if a certain coin is being hyped or shilled then there would be likely some
upcoming issue that do happen next.

For now its up to those doge bagholders on what would be their decision but basing on the market movement it seems it doesnt really affect at all.

Now the question is if those Doge Whales will buy this statement made by Elon.

See how powerful Elon's tweet is. He thinks that he can shake the market anytime he wants with just a simple statement.

I Hope Doge whales won't buy this tweet. Let them hold this meme coin for long. :)

Just stop blindly follow Elon. He's trolling all the time. People like him with so much money can do whatever they want. He's just trolling in twitter and some people think he's talking seriously.

The cryptospace has become a playground to distract everyone from the real story behind him and his company, Tesla. Tesla has been summoned by Chinese regulators and to stop a dump on the stock, what does Tesla do? The company buys bitcoin which might be as a distraction and copies a trick from Michael Saylor.

However, Tesla should be careful. From 2 of bitcoin’s last bubbles, the present bubble might begin to collapse on December, 2021. Will Tesla dump before that occurs and make the bubble burst before December?

This is really bad mentally.
Real supporters of Dogecoin will start thinking about manipulation in a different way. Worse way.
Just a tweet could move the market?
It could be a strategy of Musk to buy at a cheaper price but it doesn't mean every bag holder should follow it.
It's just too absurd.

The problem about all these people is they really take elon tweet as somewhat a divine guide bestowed to them I mean WTF man. Maybe even if Elon tells them to buy stone they will do it aswell.
If the market could easily affected by someone's tweet it's safe to assume that the market itself isn't really decentralized but instead manipulated.

I've actually warned you to be careful when you're in high Fomo, like when Elon Musk tweeted about Doge. there is a possibility that the market will reverse direction quickly. Don't take risks if the price gets too high. remember, we cannot predict the future market. now is evidence Elon Musk said otherwise about Doge. it's only 2 Weeks from the start of his Tweet. The market is risky to trade. keep control of your risk

Bull runs of DOGE will now come to end. Without its real world usage, it will never go up. Elon Musk has made this coin popular and many was fooled by it. Crypto world is becoming a joke to some who have fortunes. I just wish ordinary people wouldn't be strongly affected by this.

Yes, but most people nowadays only panic when there is a problem that may not be resolved properly, even though it is very wrong, because while there is still concern for Dogecoin through Elon Musk, the value of Dogecoin will always be large.

He is doing everything as he want, everything as usual

I didn't know about that story. Sounds interesting. If what you said is true the stocks are about to crash soon. You can't prevent the inevitable. If TSLA is on its way down TSLA buying BTC would mean only one thing: Both are going down.

Again, assuming what you said is true. Any source for that information btw?

so he just distracted the whole financial community and also made huge money from his tweets?

I don't think Tesla stock is going to crash due to the summon especially when the whole world is being manipulated to be Anti - Chinese mindset after the covid issue.

Yeh, In my opinion, Elon Musk has created psychological coercion among the Doge whales, frightening them and dumping them.  As a result, he won the sympathy and psychological cohesion of the community to dominate the support price threshold.  Next, he joined Tesla in creating a spirit of steel for bitcoin holders to look forward to.  In fact, he can do anything and improve the way people see it.  Just that humorous stance makes him special to the cryptocurrency world.  And he has all the conditions to do that.

Musk found out after two years of pump and dump Tweets, that he was just playing the game of ten people and making them very rich. I don't care at all about Musk and he just looks like a modern McAfee. Maybe Musk will start having a coin of the day meme in Twitter and promote any shitcoin that pays him. We always say to do research before anything and Musk didn't do any research at all, just behaved like the usual twitter promotional accounts.

He is crazy and most of times I have to read his tweets 2 or 3 times to actually understand what he is trying to convey. I think what he is saying is that, people who hold big amounts of dogecoins should sell their coins and Elon Musk might have meant that he will buy their coins if that's the case. too much concentration is actually the real issue with most coins because those who hold big amounts (higher concentration) can always play with the market hence Elon might mean that coins should be more distributed than being concentrated to few holders.

I am not entirely sure but that is my interpretation of his tweet. He has pumped dogecoin to quite massive numbers already and might continue to do so in coming time and there are even speculation of doge being $1 which makes me feel crazy.

That's why I always say it's too risky for newcomers to this market, really after seeing it fomo and the price going crazy after tweets I think this market is too small for Let the shark whale take control. Elon Musk is always like that, I like his character but if he ever changes his mind, I think the price will go down.

I don't think right now is the best time to buy or invest into dogecoins because yes the price might have dropped a touch and might go higher later but really it is always bad to invest into something when its experiencing a bull run and rolling around the all time high.

I am just watching the whole scenario and having fun because I don't care if the doge coin gets pumped or dumped but why I am watching all the tweets and reactions is because it helps understand what will happen to other coins in future when he promotes them.

The good thing about him is that he does what he feels right and good and doesn't care if in process a product or a service gets promoted.

Businessman only take care with him self when make announcement to buy doge coin he try to sell coin, but you make blind by him for selling buying doge but he has sell coin, check few minutes after he make tweet doge coin suddenly dump and not be stable on higher price because he has sell with higher amount and make price dump.

Remember those kids that hacked in his Twitter and many others. Trump, ... Well basically most famous people. And then they stupidly asked for Bitcoin. With such announcements they could move market 500%.  They could buy Bitcoin and then through Trump twitter announce that Bitcoin will be used by USA government and that Tesla will buy Bitcoin with all their money. Those kids could get seriously rich. But, ....

Nobody knows what this guy is upto. Why is he promoting dogecoin out of many good cryptos. If he had to promote something, he could have promoted eth.
Dogecoin has no real use case it is useless.

People will remain gullible and quick to chase money when they can do their own little research and invest on good projects but the human nature is program with greediness. That's why we easily fall into great mistakes and trap by people who don't value your financial status.
I don't know about tomorrow but I'm not move by pump and quick money traders and investors made on this doge coin. I will pass.

Doge coin dump now what happen with many holder keep waiting price back again or try to cut loss because look not worth can doge back to higher price or not, waiting is very boring without any good news or tweet from Elon musk to make doge coin back to higher price, how ever without any holder support doge will be down.

I do respect Elon Musk, he excel at his plans and all of his ventures are making the world a better place. But he is also a billionaire businessmen. Jumping on every tweet he makes might make him greedy to use it to make a profit from himself. More importantly as we now know his company Tesla had already brought bitcoins as an investment.

Lol, it was a troll tweet IMHO.  Possibly he shorted and wanted to rebuy.  So, using his influence to move the market in his favor is very possible.  Anyway, it is really clear now that Dogecoin is always been a pump and dump coin.


What else a businessman can do?  Of course, all his actions aim to have profit.

Of course this whole doge rocking story is farce in its purest form. Manipulations on the huge desire of greedy people to get rich without doing anything for this. Smart users saw through this trick literally at once. Now the required amount will be collected and we will see how the Dogecoin hype goes down. :-X

You might be onto something. I don't know if his choice would be eth if he was serious but since I know he is not serious about crypto and that's the only explanation why he is promoting doge and now I know that he is not serious about crypto, his words on bitcoin won't be taken seriously as well.

 bbc.reporter's story kinda made sense (tesla is about to go down so he is diversifying and making crypto people share his risks on tesla) but since he didn't prove any source for that story, I cannot really say if that's the case. I can only speculate.

This is exactly what I have been trying to tell all you die hard doge head fools.  Dogecoin has ABSOLUTELY NOT FUTURE.  Doge is only where it's at because of people ( like Elon Musk ) pumping it up over the years. Dogecoin has ZERO utility. 

The most important question to ask yourself before buying an altcoin is " Does this coin solve a real world problem of today? What does this coin do to make things better or easier than they already are? " ..if there answer is nothing, then there you go.  Dogecoin is the same as 1000's of other altcoins...there's nothing special about it.

Long time not see where is Elon Musk now because he have make many people panic for buying Doge coin and now price dump, I don't see any new tweet from Elon Musk how to support many holder or Doge coin and make price back to higher again, many holder want to see Doge coin back to higher price again without any problem faced.

One of the factors that caused the doge dump was the negative tweet by Elon Musk this person is very influential on the price of doge in the market
but currently the price of the doge is able to survive and rise little by little a slightly positive move, I still believe in doge capable of rising high like yesterday because I still hold a large number of doges

Market cap way to high to hit a dollar it’s near impossible. These Reddit people are using people stupidity to make a quick bucks and sell and leave them to holdl until the coin vanished from existence
He probably will, he is manipulating the system for his own benefit.

What can we expect anyway for many investor's reaction to it? ::)
Many people are driven easily by celebrities that's why these happens.
I respect Elon Musk, but some people should learn to think for themselves and  not get merely influenced by celebrities. It's just like one of those teens getting easily manipulated by Tiktok influencers. ::)

That guy is just manipulating the community through his Tweets and his own followers are his own victims which is really ironic.  As for me, he's doing those kinds of manipulation for his own purpose. How just want to take a bigger profit so he's trying to influence people to dump and pump. We should keep in mind that he's a businessman and he's too focused on getting richer.

It seems to me that Elon Musk is coping with the role of a manipulator. Musk first tweeted the value of the low-liquid Dogecoin. Now well-known American entrepreneur has called on large Doge coin holders to sell most of their cold assets in order to reduce the concentration of funds.

He even offered to pay for the cancellation of Doge owners accounts! I do not understand the actions of Mr. Musk, and I think that sooner or later users will stop responding to his strange calls. I wonder what kind of fate awaits the coin itself.  ???

Forget the dump, look at where Dogecoin was before Elon Musk started shilling it, the good thing for the project now is that it has new bagholders and this can help steer up better development plan for the project because for years the project has not improved the network and is time they start differentiating it from just Bitcoin fork

Hmmm I am seriously not liking all these dramas that the cryptocurrency market has been turning into, and by that I mean the Dogecoin market, like seriously how can just one guy be telling everyone what to do and they are sheepishly doing as he says. So, that means this guy has some really good chance to cash out big.

He can just say one thing and cause the Dogecoin market to go down and then he will invest billions of dollars and then tell people to start buying and they will stupidly make him even more rich. This is really dumb asf, I have not even invested in the Dogecoin before and I don’t think with all these things that I am going to do that, their community is now Elon’s puppets.

This man definately knows what hes doing, he is just using the general public to make more money for himself, i just wish people can come back to their senses and stop falling for this tweets, but then, i understand that this is part of the market and this is the same thing that drives most of the financial market including the forex market, stock market and most others, most people depend on news or tweets like this to decide whether to go in or go out of the market if they are already in.

I saw the increase in the price of DOGE at that time has made most ordinary people or investors invest in the coin. but it is very risky for those who have bought at a high price or FOMO, because I think the DOGE price hike will not happen for the second time. DOGE is already at its ATH price, if one is still hoping for the high to repeat itself, then you should consider a thousand times for it.

There has been no major change since Elon's last tweet. Now we can say that people do not invest so seriously or listen to what is being said.
Normally the price had to move up for a very long time after tweeting. But for two days things are not going well and prices are falling.
Let's see if Elon can do something in the next period :)

Every time Elon Musk make new tweet when bitcoin dump or pump, always make many people panic and you have joined with his rule how to manage your bad way with bitcoin and altcoin investing, every time when he make tweet for buying bitcoin please stop hear him because bad day when you buy bitcoin or altcoin on higher price, just few days later price dump,