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1. 108 addresses (whales) own 67.34% of all Dogecoins so price could drop 50% in a minute.

2. This coin has no limited cap. It goes on forever like fiat. We all hate fiat for that.

3. Despite what Elon Musk says this coin has no real utility. Even if a company paid with Doge for Musk to send a satellite (because Musk asked them to use Dogecoin) it still doesn't mean a thing. They could have used carrots or Zimbabwe dollars instead.

4. This coin is all about hype. Once the hype is over down it goes. Even if Musk will boost his toy as long as he wants one day he may get bored like all billionaires do.

5. This coin is a meme. A really good one that I've enjoyed myself! We all like good jokes but we also get tired of them sooner or later. A joke is a joke and the joke could be on you.
 
6. Imagine a real corporation/business putting their investments in Dogecoin. You have to be a little insane and there aren't so many dumb people out there as Elon thinks.

7. Elon Musk is a narcissist - he admitted this himself - if you don't know what dealing with a narc is I invite to find out. You're only boosting his ego and I wouldn't dare playing with a narc's toy.

8. Do you think billionaires have any interest for poor people to become rich? Do you? Dream on. You're only making Musk and the whales richer than they already are.

9. This coin is highly manipulated. If you like manipulation go for it. But manipulation doesn't end well in life. Don't be a sheep, use your own mind, don't follow the crowd. Where many follow it's not good in general.

10. Even if it will ever reach $1 this coin is not sustainable in the long run. Musk will have to pump every few days with his tweets. When this coin will worth $1, BTC will easily worth $100K or more. Dogecoin has always been pump and dump, look at the coin's history and look at BTC.

There are a lot of other alt coins much safer and with a better image which can make you rich faster and easier than Dogecoin. You just have to use your mind. Doubling from 50 cents to $1 is not a spectacular gain after all.

When Dogecoin drops like crazy don't come here to cry, you've been warned.

Good luck folks!

Thanks for a nice write-up, you truly summarise what Doge is all about and what Elon is doing and those manipulators riding the hype.

And what investors think specially newbies who can really fall for this trap. I do hope that individuals will realised it before it's too late. There's so much money flowing in Doge right now that it may crash after this altcoin bull run and many are going to be trap specially those who bought on top.

It seems some people deserve to be musked. In the end when all this is over people will realize they've been fooled in the biggest scam of the century. They're literally boosting Elon Musk's rockets and make him richer lol.

I may be wrong but you can't buy it on Robinhood or Coinbase; so the 'greater fool' rule is limited.

Probably Coinbase is not listing it because it's a meme coin and they have some respect for their users.

I wouldn't disagree here! Dogecoin is indeed meme coin without any real use case. Even the dogecoin developer has sold all his coins to buy a Honda Civic back in 2015. It doesn't have a serious developer team supporting this project. The recent surge in value has happened because Elon Musk supported it constantly. So there's no real reason behind its surge. So they way it has gone up, it may come back in a Similar fashion.

It's definitely not a currency to HODL. Just make some profit through trading and leave it.

I gotta admit that I had the thoughts back in the day that I'll invest in Doge because my other friends are like hyping it up and posting it all over my news feed in Facebook.
I just realize that I was like going along the flow by others making me like media-driven investor.
Now that I realize that there are people that are also celebrity-driven investors.
I never even thought of investing when Musk recently hyped it up. :D

Unfortunately, Dogecoin has turned the market upside down. Elon Musk's constant Dogecoin shill, which had nothing to do with crypto money until this time, also affected the market badly. Now shit coins, which are in trillion units, have started to emerge. The bull will end badly this way.

I liked Dogecoin as a meme coin and I was a huge supporter myself, but I don't like what this billionaire dude made from it, it practically turned it into his own narc toy and made it look like a sh*tcoin. Now all Doge community sees him like a sort of god, praising him all day. This is non-sense. These kids are ready to do anything for their master. Scary stuff. I wonder what comes next. This guy has more surprises in his basket I'm sure.

It is kind of surprising that he does push DOGE so hard because your #2 is what he dislikes about fiat. He publicly said that Bitcoin may not be good but less worse than fiat because it can't have negative interest rates. Inflation is essentially a negative interest rate. Are there any coin burns going on for DOGE?

Dogecoin is literally a quick rich or quick poor scheme coin. Majority of people jump into this because of their greed, many cry babies will whine and its going to be messy once it pop. I hope small bettors are knowledgeable enough to find an exit not a loss exit.

I had invested in Dogecoin when the price was 17 sats each doge and I sold when it was 30 sats. I was happy having almost 2x but it was abad decision. However, every time I saw Doge pumped, I had the same feeling as you have shared above and I didn’t take an entry. I could have huge gain but I was aware of the possible dump and I didn’t get in.
Still, Doge is huge risky to invest and I would suggest anyone to avoid investment on it now.

The unusual investment wave of small investors in the community is increasing strongly. People invest in unusual things like celebrity tweets, memes like DOGE, SHIBA, animal crypto. This investment wave may end soon like GAMESTOP stock.
Unappreciated investment safety rules are dangerous for new investors. Blind community support will be what hinders serious projects from developing.

I think, that is one of the repercussions in this type of hype.
It(Doge) overshadowed a lot of valuable projects, which need to be promoted to the community.
And since Elon is a very influential man today, almost everyone is following what he says to the social media.
If he can only promote a project/projects that have real applications that can change how a specific industry works, I believe that would be great.
Unfortunately, not many people can imitate the same influence that he has to the public.

My own Dyor showed that, never before had I appreciated the Doge's ability to become a financial asset, its nature did and would not.  It was just an exaggeration for entertainment purposes, and strangely it was repeated over and over again, and it was unusual.  All the newcomers became puppets and were given a board slap under Elon's hand and mischief.  He has a duty and a responsibility for that.

Indeed, those write ups are good using as basis before taking your ride. Unless you are good in analyzing those kind of hypes and you are ready
taking the risk, then it's also an opportunities to play with the big boys.

Whales are good but riding with them if you do have big nerve is also possible, got to work harder to take a quick and profitable ride.

Never to invest your money into something that you don't know your advantages, it will trapped you and lead you to lose your investment.

Hater gonna hate, wise traders gonna profit.  I cannot argue with the facts given by OP but this is a cryptocurrency world, everything is possible.  Instead of hating why not take advantage of it and get profit. If you are late then just leave why taking time to point out the obvious.  People are responsible for their belongings, so they must do their own research before investing.  If they lose, their fault.

If you look at majority of the coins in the cryptocurrency market you will find out that a few majority will be holding a large portion of the coin.

Is ETH and XRP any better in terms of the number of coins.

It can be used to purchase goods and services and many gambling sites accepts Doge coin while thousands of other coins are not used anywhere other than a speculation tool.

You can copy the same sentence literally to all the coins in the cryptocurrency space, it is all about hype and you would be foolish enough to think that a single person could manipulate the Doge market.

Started as a meme and so does Litecoin and many hundreds of other coins in the market, they were all created for fun and that does not mean it will be considered shit throughout their existence.
 

Once again gambling sites that accepts Dogecoin will be investing in Doge to hold as reserve.

 Tired of replying and hence skipping the same old repeated question.

The pump in the market cannot happen with a tweet, people are investing money in the coin and so is the reason the value is increasing, every coin is a pump and dump and if you look in that aspect literally each and every coin is a pump and dump.

Oh shit!!!!!!! I want to send you 1000 merits if possible!!
Your post is great and it goes to the heart of the matter. I don't see any function on Doge's existence, I often joke with my friends that doge is trash, but unexpectedly trash is turning into gold. And this market is following a billionaire guy, they're making him richer.

We need to spread this thing to early crypto investor who joins recently. Most of them are a crypto hypebeast without any knowledge biased by influencers.
If they informed well i think its healthier to crypto space cause the fund can flow to a better project which have some good fundamentals.

in my opinion this is a wrong thinking and will never apply to traders. because traders are only looking for opportunities to be able to get profits in a short time. Dogecoin has become a major focus among traders because Dogecoin has opened up opportunities for direct trading and can make huge profits in a short period of time. because traders know that doge is an altcoin meme and it is unlikely that traders will hold this altcoin for a long time.

IMO traders take any position with many consideration like Fundamental or Technical analysis.
I dont think Doge have them and AFAIK Doge investor mostly invest because influenced by some influencer that only offering instant profit of riding the hype.

I don't believe in Doge but that didn't stop me from taking some profits from it. I catched it going up and now going down to short trade it. And I think every smart trader should do that in this kind of situations.

Awesome points. I'd give you merits if i had any left, sadly i don't.
But the thing is, you can't reason with degens and apes. There will always be idiots chasing that quick buck, and when it crashes, it's always someone else's fault

Hopefully, this will serve as educational learning from people who are eager to put their money on DOGE. Because of the hype, they failed to realize that DOGE does not have a future of long-term success, the success is just short-term and anytime it will disappear leaving most investors disappointed for holding a bag of DOGE, I hope they'll wake up early.

Well said Bro! Never invest in coins like this. There are many other coins that have good fundamentals and have working product and service, why should we risk our money into something that is not certain. For me doge = gambling.

Great write-up.  Doge is a bad investment for sure.

Regular people will however continue to focus on quick profits while the upper class searches for the next big gems.  In a scenario where the upper class helps the poor, power is typically transferred or shared from the upper to the lower classes.  Upper classes hate this.

After all, Elon Musk is a stranger to all of us.  Social media does give a false feeling of closeness, and it is our job to counter it.  Nobody will try to help you out without paying a price for it!  It is said that when something is offered to you for free, you are the product.  In this case, you are the pump helper of Elon Musk.  With every Doge you purchase, Elon Musk's unknown wallet grows.

By the time whales cash out, demand will fall off the cliff and Dogecoin's price will drop significantly.  It is possible that we are in fact right in the middle of this situation right now.

-
Regards,
PrivacyG

Lots and lots of people get blinded by greed. They start actually believing that Doge has some use-cases and potential that could justify this insane price. Come on, doge went up by 20000%, did its adoption increase by the same factor in the last few months? You don't need to be a financial analyst to understand that an asset which price depends on troll tweets of one person isn't going to have a bright future, but too many people developed bagholder mentality aka emotional attachment to their investment.

I think there are some points that you are conveying that are very true, but it all depends on the attitude taken by many investors. I personally have been trying to invest in Dogecoin now and as a result I have made a profit, but for now I am buying it again to wait for the high price of $ 2 or 3.

That is true and that's really the thing here but still, we cannot ignore the DOGE coin since when we see how the market work I think some traders could work it out.

For me, you could still make an easy trade and maybe gamble a little bit with it, because I mean that's an easy profit maybe just a 100$, The community is surely big and a lot of them for sure believed in DOGE, we can surely notice the price can sustain at a certain level.

But for sure it's not a good investment especially when it comes to long-term investment and it's not really a good investment if your gonna invest a big percentage because it's kinda risky because of these reasons.

This coin is indeed not for a long term investment. So far, I only buy and take profit from Doge coin, utilizing this hype but only for scalping. I also do agree with you that I will not hold this coin because it is as what you said at all.
I am wondering if this coin has reached its higher price in $1 as what people say, what will happen again to this. Probably when those billionaires have been bored and have been taking very big amount of profits, they will throw away and let us the small people to feel depressed of it? Hahaha

Well said.
Even it is $0.1, I don't think that I'll invest on it. I still find it to be expensive even it drops in an instant with that pricing. The true thing about Dogecoin has been said, it's a meme coin and you know guys what meme is.

Wow, all 10 points make sense. And I hope people who read this will wake up to their senses and realize what they have to realize. If all of this will be over, there will be a lot of losses for its supporters. I hope they can exit as early as now.

Poor virtualdn you seem to be really bitter and sad to have miss the train, sorry the rocket to the moon... :'( How did you manage to miss such opportunity, you're not a noob, you are a legendary member according to your profile  ??? I wish you good luck with your other promising altcoins, another richest man in the world could buy them and shill them if you are lucky  ::)

Most of doge investors who expect doge to get $10 price are simply too naive, they think billionaire such as elon musk want these people to be millionaire and make quick buck by shilling it, but as we all know there need to be demand that buys the coin when we're selling our doge and whales definitely aren't gonna giving away some free money to add the demand, the demand coming from the same retailer who want to get rich quick as well because of elon.
If you invest in doge because you know that it's just temporary hype and want to make profit despite of that, it's fine but if you think billionaire want to make you rich, then that's the problem.

I don't need too many reasons to invest in this coin and I have almost x100 return, and of course it doesn't affect the entire investment no matter where it goes, but I'm different. For everyone I don't expect it to surpass $1 or more because I sold all of them to protect my achievements and the greed won't be for it at the moment.

Straight to the point.
These reasons are pretty obvious already.

The problem is people are easily blinded by greed and they bought at the top hoping that it will give them huge profits. If you are a leverage trader then it can give you huge profits but for an average traders and investors, this huge run-up that DOGE has made because of hype that Musk did.

Unfortunately, those greedy people are suffering right  now because DOGE seems to go down already and now starting a bearish trend in short term. I feel sorry for those investors who bought at the peak... or not :D. Let them learn it the hard way. Many are telling to them already things like "Don't invest into DOGE as it is a hyped coin" or "DOGE has reached its peak, don't invest to it" but there are still some who are hard-headed and invested into it. Now they are regretting.

I will not touch DOGE even though it will reach 1$ which is I think impossible right now and will always be impossible.

Thank you so much for this, I told my friend today who has an inkling for investing in altcoins alone about how he should try not to be so enticed by the hype about doge coin to the extent that he converts all his coins to it because the coin is highly unpredictable. I am not the type to argue because he almost started an argument about it and i simply just let the matter be. Because i love him too much, and he is my friend. I will share this with him, so he can see for himself that there is a whole community of people who have done their research on the subject.

I did noticed that wave of people investing in relatively unknown or lesser known cryptos. I just wonder where these people are getting the news of these coins and many of them scramble to invest as early to the coin as possible so they will be able to get the profit that they wanted. Right now DOGE is struggling to keep itself on top as many people are now panic selling their initial investment in DOGE and it maybe a matter of time before DOGE will be left back to its meme price which is less than 5 cents.

these argumentations about dogecoin are well known by anyone that has enough experience on cryptocoin. it's very useful spread these info, just to give some basic info for newbie that are trying to understand better this world. 

Personally I think that what we have seen with such coin has been something "unique" and I think pretty impossible to see again with another meme coin.

What's important when investing to this project is you already satisfied your needs, you don't need to chase such

amount if you are afraid of losing your chances, take your profits and move forward. Unless you see more opportunities

then taking another position in a much lower price is also possible. good anticipation that comes out from your good understanding.

Well it's up to you guys to spread them even more. Personally I'd be happy if newbies wouldn't fall in this trap and lose their cash. But like everything in life some things must be learned on your own skin: ouch!

I wouldn't do it neither, especially now. I should've buy it when it was below 0.1 to sell it while it was at 0.7 but hey, there's so much more opportunities so i don't even really bothered about it.

Ohh I though I was the only one who see Dogecoin as a gambling coin being pumped by Elon and other huge hodlers who are ready to dump it immediately they hit their target price. Elon will keep tweeting to his huge audience to buy at the peak price to keep the price pumping till he pulls out.... Don't ever invest.

Most of the investors on dogecoin are short term profit chasers, they really do not care about any details except to make quick profit and move on to the next pump and dump, then a few minority of investors are dreaming with their dogecoin investment hoping to make lambo's out of it, unfortunately for them, they might get rekt before that dream come to reality, the moment Elon stop tweeting something positive about dogecoin, it will affect the price big time, and lots of noob investors will learn from the hard way.

I agree with this one; most Dogecoin investors are cryptocurrency newbies and short-term players. They don't mind if the coin has any use case or not.

They want to have a quick profit and move on to the next one. Many gullible investors are being exploited because they're hoping to gain financial freedom with this coin, but instead, reality will come hard at them.

They will realize that the price is being manipulated and being played outright by the hands of powerful people and the whales.

I agree there are a lot of other opportunities are available but nothing has been backed up by billionaires. I mean you must need someone to pump your coin otherwise you will see your investments are going down in most cases. So, I believe there will be nothing wrong to go risking along with Elon Musk. Still it should be under  your affordable limits. Something is better than nothing is the policy I am going to follow for my dodgecoin investments.

Even bitcoin is facing 70% drop every four years so dogecoins cannot be an exception. If I am able to make some 2x to 5x return for my investment that would be more than enough for me, for risking in dodgecoins.

Thank you for sharing, this is a useful article. I invest doge but in a short-term way and make a quick profit, not long term.
I don't invest in long-term doge, because of the causes you shared above. I think it's just being pumped up temporarily, and can be dropped at any time.
Not only doge coins but other currencies are also affected in general....

Thank you for lighting me up, I am already holding Dogecoin for now but I am really doubting this coin, I am just got persuade based on what is happening right now with this coin, I will now pull out my investment for this coin and will invest it in other coin or bitcoin maybe. I just remember when Elon Musk has says some joke about Doge which brought the value of Dogecoin go down, it just proves that Dogecoin is a mem coin.

Because of that pointers, newbie traders will again confuse about what to do regarding Dogecoin investment. :)

Just ride the hype but don't get be carried away. Take profits as possible and don't expect a much higher target price. Dogecoin is no doubt one of the good additions to our portfolio but I don't consider it as worthy to hold for long.

I'm having similar opinion about dogecoin investments. When there are some big hype is going on, why not we try to make use of it? Because, we are all always looking for someone to pump the coins we are holding; this is actually already happening with dogecoins hence making use of it by investing when it is available at cheaper prices will be a wise idea in my opinion as well.

Moreover, if you are targeting big price levels for your dogecoin investments, then there are very less chances for you will be disappointing over the course of time. Because, there are a lot of chances for Elon Musk to keep pumping dogecoins as he started accepting dogecoins for their one of businesses.

Elon Musk is a billionaire, celebrity, entrepreneur, CEO of big companies, a monument to every young man around the world, so what he says carries weight. I believe he will do things that benefit me first. He has invested in DOGE as an individual investor.
He talked about Bitcoin before, after which Tesla bought $ 1.5 billion in Bitcoin.
Good projects in the blockchain space are plentiful, and Elon Musk doesn't need to because those projects already have his marketing team. If he was to invest in a non-DOGE project, he wouldn't be silent.
Celebrity cryptocurrency ads have been around since McAfee promoted dozens of ICO projects and listed coins. Of course, he doesn't do it for free, the fee he recommends per shill is $ 500,000.
I think the crypto space should be spontaneous. If a project is really good, people will find it, use it and invest in it.

Funny how we totally reject Doge and end up profiting with nothing while those short-term traders don't care much about the usage but rather the volatility of the coin.  If the coin dump, an opportunity opens, if the coin surge, profit should be taken.  This pump and dump always happen to Doge, but we side watchers always criticize but the question is, how much do we earn criticizing DOGE?  Nothing!  Just feeling good to be called the one who has concern for the newbies but actually we wanted a company to earn nothing from trending DOGE coins.

Indeed knowing that DOGE only became that huge because of the hype hence, it wouldn't worth holding for too long, anytime if Elon Musk ditch out DOGE those who will be getting out late is the one who will suffer. It's not bad to get in the hype because it was really worth in fact you will be able to get a decent profit from it but don't get carried away, make sure you know when to get out. Know your limitations and you'll be fine.

Unfortunately this is not the case, people always fall for this kind of hype and that is because for the most part they are only interested in the money they can make and not on the technology behind the coin, this means they could not care less about the points the OP brings, they only ask themselves a question, can they make some easy profits with dogecoin? And if the answer is yes then they will invest not understanding that just as they can make some easy profits they can get some easy losses as well.

I agree with you the coin is just a meme coin, people should realize that people who are just getting in with crypto should keep away from this coin, because it's just being hype, without any purpose, the current victims to fall for getting the coins are just listening to other people without making research which they should do always when buying coin or token because if you just listen, you will be manipulated.

Yeah you're right all of these cryptocurrency are community driven assets so it will be the same depending on every investors preferences that is why there is this pump and a dump. They might call it a meme coin but for some people who invested in it makes them lots of profit. We have the right to choose so win or failure it's not their loss.😁

But there is only a limited number of people who can take profit eventually. There will also be losers and that will mostly be the newcomers who now get hyped up and want the quick buck.

I can name just one thing : it is a memecoin. That is a good enough reason for me to not invest into something, I do not really look for something else when making an investment, as long as it is a serious project with a good deal behind it, I would invest into it but if there is nothing that supports that notion and it is only a "joke" then there is no way I would invest.

Nowadays they are creating similar stuff (or already created but hyping just now) to make things worth again, like shiba or whatever that is called became very high as well, why? Not really a proper reason, just because it was another meme coin that resembles doge and doge went up too much so people instead moved their profits there to make that kind of return again. Long story short, if the project is not a serious project with a good usecase I wouldn't invest into it.

I will also never invest my money in DOGE even it's $0.00000001
Honestly I don't like Elon Musk because he uses his big name to manipulate prices and from all the statements you make I 1000% totally agree

Honestly, dogecoin is overpriced for a meme coin without any use case and no valid product, after going through your thread I just found out more reasons why I would never want to buy dogecoin, investing in dogecoin is like a gmable, your not sure if you're going to win or lose, most people buying dogecoin now have no idea its just like the regular fiat no fixed supply, the fact that 108 addresses hold the most percentage of dogecoin should make them scared, cause if they decide to dump, not even Elon Musk's tweets will be able to save the amount of people who will get Rekt.

All of this are true and factual however it still good to invest on it in a short term manner especially seeing that almost 1000% massive pump percent happened to doge in just a short span just don't try to be wiser and be cautious in dogecoin to avoid burning and losing important funds.

If you consider it from that angle I agree. Meme coins are getting too much attention, but their success also demonstrates that a lot is possible if the community cooperates and coordinates market momentum and you also have a catalyst like a guy with a lot of money like Musk. Still I see it the way you do and for me it wouldn't feel great to have DOGE.

This is the best point among all the other good ones you made. I mean there is literally no use for dogecoins and the owner himself called it as a meme so why would anyone believe it go higher? Just because of the hype!

People need to understand that the actual value of dogecoin was a thousand times lesser than it is now if not even lesser, and the token was not underpriced because it was meant as a meme.

And I like the point you made about accepting dogecoin because even if Tesla accepts dogecoin it does not change the fact that dogecoin remains useless and Musk could have accepted literally any coin from the market with a decent market cap. One can always buy from the market and sell to the market in real-time whenever they need.

You really went hard  on this one, but all are absolutely true, there's no difference between dogecoin and the fiat  crypto was created against, also with the amount of whales holding that high amount of dogecoin is really something one should consider before think of buying dogecoin, to me dogecoin reaching $1 doesn't mean a thing cause I know when the bearish market starts it will dump no matter the tweets from Elon.

You put this as if there was no risk involved by saying it provides a fairly fast ROI. DOGE is a damn hot iron to put your hands on right now. It is fun to watch it of course, but it's no fun anymore when you jump on the train and you have no idea where it is going next.

It seems Doge is sinking heavily. 32% off in 1 week and according to Max Keiser it goes to 90% off.

My friendly advice for you Dogecoin holders would be to switch fast to BTC while BTC is still cheap. Things will change in the coming months and BTC will start a new ATH trend.

It's the best move you can make now instead relying on some billionaire's tweets. Or do as you like, but you've been warned, you'll get musked, don't come to cry ;)

This is one of the biggest problems for Dogecoin. If it has unlimited max supply, then what is the point here? It has no difference than fiat money in terms of this feature. And this is also a factor which prevents Dogecoin from reaching much higher prices than now.

1. It's the no limit supply for me
2. It's use case isn't new as majority of new altcoins have faster transaction speed now
3.  it's a meme coin and that's all there is about dogecoin

The dip will be massive leaving most investors will near zero

I only need one reason: I do not want Elon Musk deciding on his own volition the value of my investment. Exactly the same goes for McAfee and other "pseudo influencers" that seem to tweet irrelevant messages just using their twitter dominance to create classic pump and dumps. If you are serious about any coin, you want its value to grow healthily based on adoption, good news, large investors, inflation-deflation,... not based on how bad was someone else´s weekend.

10 good reasons why I wouldnt bother buying dogecoin either, it's the real example of a bubble about to get burst, it will be really devastating if any of those whales decide to dump their dogecoin for profit, the price of dogecoin will definitely be affected by it, and with its unlimited supply like fiat, dogecoin holders will be doomed in the future, I can't buy dogecoin the risk of losing is higher than making a profit.

People do have options and choice to buy coins of their likes. But most of the proposition made about doge are not entirely true. If we are to go with that narrative, almost all of the coins have no base and value, all of them are hype, manipulation and fake tokens as almost all of their price depends on the market and not determined by a collateral. 100 addresses (including exchanges) having more than 50% of supply is true for most of the coins. I don't mean to say that Dogecoin is a good coin and take it now, it's surely had an unnatural growth and their are larger chances of correction than going up. But I just wanted to clarify that almost all of the coins in crypto market works in the same way.

if theres a difference that is dogecoin is decentralize , digital and its value can grow even if it has a huge supply but fiat are centralize , non digital and stable .
10 reasons would be enough if there are still people that are not convinced that doge is a bad choice  .
 no need 10 reasons for me but 1 reason is enough and that is when i heard that doge coin is a meme coin. that prevents me from not picking this coin .

Unfortunately what happens is the opposite, instead of staying away from coins like this one that have no substance behind them and that are mostly impulsed by hype and by the masses doing what everyone else is doing people decide that instead of making any kind of research so they can make a safe investment especially in a market that moves so abruptly as this one they decide to buy the hype, and while on the short term they may get some positive results there is not doubt in my mind that most of those people will lose most of their money when dogecoin finally crashes.

There are few that understand what this pump and dump is, and so who ever make you think you are wasting your energy explaining this to him should be stopped talking to as quickly as possible, the behavior that newbies exhibit am follow shows exactly that they are after the money and follows the hype of crypto assets, the ecosystem is not for joke and that rho ever understand how this system works is a perfect crypto enthusiast, you just have to free your friend, experience and sometimes been hurts is the greatest teaching you can ever had.

I am a happy bunny with Doge because I mined thousands of it when it first launched in 2013 and I just let it sit there. Now thanks to Mr Musk I am smiling :)  Doge is also used for payments because of its low cost transaction fees compared to other coins so it does have a use and it is also still pretty easy to mine compared to a lot of other coins ... Doge to the moon :)

Good for you.
So, you mean you still holding it up until now and only used it for payment?
Then you must be one of those Doge believer and a loyal supporter since day one.
However, that doesn't change the fact that Doge is memecoin, because most of the alts in the market were aiming for a high tx speed and low fees just like XRP.
And that doesn't change the fact that what the OP said is true.

We have to see this one as a reality, before DOGE is just an ordinary meme token now that there’s a huge hype on this project, it became more expensive and the hype is still strong with DOGE. You might not want to play long term with DOGE but seriously, you can actually make a lot of money by just trading with DOGE because its very active in the market right now, so better to ride the trend now.

There are a million cryptos like that. Why single out dogecoin?

Thanks for sharing your thoughts on DOGE. I really agree with the main points which for me are the first 3 mentioned.

The fact that whales have the majority of DOGE to me is an instant no, no, investment. Whales can easily manipulate the market, and as you point out DOGE has become a hype coin obviously perpetuated by Elon.

With so many options out there, for me DOGE is not a coin for investment. The advice I'd give others is to choose with care!

I sold some of it when it hit 52 pence but I am holding on to the rest for now,   Coinbase  will be listing it soon so that will most prob push the price up again in which case I will sell some more. I have also left some in Binance because they offer a small apy % on it.

Because doge is the king of meme and started it all. Due to its success many shitcoins were created similar to doge no utility and just pure hype hoping to be another doge in the making.

We have different perspective on choosing what coins to invest in, some of us prefer the old estalished coins while others are riding the hype of meme coins.

But regardless of what you prefer, what important is the profit, investing in crypto is risky so deal with it based on the coins you chose to invest in.