Bitcoin Forum

I have strange relationships with doge coins.

I like investing in altcoins and I believe that there are a lot of good projects that bitcoin maxis are ignoring. And you definitely can't say that altcoins are useless.

But if you think about meme coins, they are mostly useless and pump only because of the hype. So it's a dangerous asset to invest in, that's why I don't like meme coins.

But two years ago I decided that I want to try buying some doge hoping that it will fly up and I was wrong and lost some money. From that time, I decided for myself that these coins are not worth investing in. And after two years I still think that it's better to invest in coins that have some kind of utility/project.

But I still see that there is a huge community of people who still buy doge and wait for it to go "to the moon" despite it still being a coin that only Elon can pump.

So why do you think people still want to risk their money buying meme coins instead of buying bitcoin or some good altcoin? I think that even if doge will start pumping, it won't go x10 because its market cap is too high.
Do you still buy doge or other meme coins?

That's because they still think that altcoins or meme coins can repeat their success by getting pumps from people like Elon Musk. In addition, because the price of the meme coin is still very small, they are willing to sacrifice some money to invest in meme coins, even though they don't know whether the meme coin can repeat its success in the next altcoin season or does it take longer to start increase. I have been buying Dogecoin and Shiba for a while now and am just waiting on the timing. And if those two coins don't increase any time soon, those two meme coins will just complement the coins I have in my wallet.

With the huge numbers of competition nowadays, I doubt they will gonna have momentum where they will have some chance to pump the price of Doge Coins but since it is linked with Elon Musk, it's just hard to predict its future because they still not abandon promoting it until now. But the main problem here is for the newbie investors who thought Doge Coins will be successful like ETH or BTC just because it is promoted by Elon Musk and they continue to buy them even though there is no guarantee that the price will rise in the future. People nowadays need to refrain from listening to any influencers concerning their investments if they don't want to jeopardize their capital because those guys don't tell people whenever they want to sell their holdings.

If you are in cryptocurrency market long enough, you should know there are bull and bear seasons which are part of market. From your story, I believe you are speculating and trading not investing.

If you speculate a market wrongly and enter it at bad times, you will have to suffer a very big loss. If you bought Dogecoin two years ago, I guess you did it when Dogecoin rose to about $0.7 that is terrible and surely it's not good time to buy it.

What did you think to load up Dogecoin after its rose a lot like that? Especially with your experience in altcoins, that speculation is so bad.

Good news for you is Dogecoin is a Proof of Work altcoin and it won't be divided too much like GameFi, Metaverse tokens.

We can't deny that many traders/investors hate meme coins like Doge but still, a lot of people remain hoping for another hype and they are even patient to wait for it as they'll think that it will happen again. We can't stop them nor discourage these people because I was certain that they are already aware of the situation and see Dogecoin losing its value, yet they still hold and invest.
But for me, I don't consider it buying even though I saw the huge community supports for this project. Not because it was a meme coin but it is because I have no courage and never see the potential of this project in the long run.

It is still a meme coin though, it's that

- Elon Musk started to hype it, that's why many fell for the influence, and to be honest, it was really effective as many people make a lot of money out of it.

- But since it is just pure hype, it suddenly goes down a bit and the hype is no longer there.

So it might not be a good long term investment, as it is just base on the influence of personalities like Elon Musk.

I don’t have meme coins in my portfolio.I don’t believe in them and see no reason to invest in them,many of these projects are dependent on external news,like the same Doge react only if Musk says something about them.At the same time, the coin has an infinite supply,which means that inflation will affect the price negatively in any case.

Alas a question that missed an issue with it:
There is no such thing as a "good altcoin"

Maybe Dogecoin can get another high pump like before but we also don't know because it seems like Elon hasn't said anything regarding the meme coin. But usually, Elon will make tweets when the market is going up, which will increase meme coins or other coins. And for now, we can only guess hopefully Elon will tweet again for this meme coin. I don't really have high hopes to see the meme coin go up as high as it used to but if it does, I'll try to sell it at the highest price possible.

Only people that really hold meme coins would be able to answer that although I had plans back then to buy Doge coin because it was kind of something interesting to buy as I am aware of the "doge" meme in the internet, but jeez that was already a meme for almost a decade and surely it is not a thing anymore. Good thing I did not buy one though.

You could be right that it won't go 10x, let alone Shiba being $1 as well. It is just not something of a realistic ATH as of the moment to be eyeing at.

    Then let's admit to ourselves that the only reason why Dogecoin rose a little is that it was promoted by a well-known businessman in the world, Elon Musk. And because of this incident, the Doge reached 0.1$ each almost.

    And this is also the reason why there are still many people buying doge in the market, maybe the doge believers believe that what Elon did will be repeated entry or the bull run will happen, which in my opinion is vague. Also, if I were to buy meme coins, I would prefer Babydoge and others that are under SHIB's utility tokens.

You have already said the answer and that's all about the hype and the pump and dump that's happening there. Someone can be serious and not serious with use cases and utilities.

But, only wants gains and wherever it can be, they'll also be there. I understand that there are investors that are only for that because that's what investing is and for us to make some profit.

They chose the quite risky way but we're choosing the slow yet stable way of investing in the market through having reliable cryptos mainly bitcoin.

Because those who expected Doge for more than $1 instead after Elon Musk did it again to influence the hype of this meme coin, I myself am not sure about doge but we don't know if there will be another explosion in the future due to some other factors or indeed waiting for Elon Musk to do something again because of that the Doge community still depends on one person, namely Elon Musk.

But at least Doge can survive as a top meme coin, it's just that we don't know after the bullish actually comes, and if we believe too much in this meme coin, it won't give us too much hope.
I'm not too focused on meme coins that just rely on hype and this doesn't know when it's happening, it's pretty unclear they're just being confident.

Investing in alt coins seems ricks to me. I faced a lot of losses which caused the platform to be destroyed. And since I encountered more people I decided to invest in Bitcoin. And I traded in a short term and managed to achieve success.
 But the platform is not likely to be destroyed in any way.  In alt coins platforms have been destroyed like Luna, FTX etc many more platforms have been destroyed causing huge losses to people.

They were just lucky because Elon Musk did invest on that coin but once he pulled out everything you might wanna rethink your decision if you invested on that coin. Although, he's not pulling it out yet but who knows what he was thinking? You better do your own research if you want to invest in something so you won't lose too much money hoping for something to pump altcoins have the least chances for you to make some profit but invest on coins that has made history already. BTC, ETH, BNB and others if you can add something.

if you're only seeking for profit, these meme coins are only good at their initial phase of massive bullruns, when its market capitalization are already too humongous, I doubt it could ever make massive increase anymore.
in short, if you're too late in following the trend of meme coins, it honestly doesn't make sense at all to invest in these meme coins anymore, you better of investing in other coins instead that has real utility.

people are after for the possible huge profit when they try to explore the meme tokens or coins. as they have seen that doge price was pumping whenever musk is mentioning it in his social media, they are hoping that they can get share of the sudden pump and get huge profits. but as you said, this type of investment is quite risky. much better to invest in rock solid platforms like BTC or ETH.

I have never bought any of those meme-coins and i will also never buy any of them because for me they are all useless shit-coins. In addition to that i would even say, that those stupid meme-coins were also a reason why we are having this bear market now for over a year now. Dogecoin pumped like crazy just because Elon Musk made a few funny tweets about it. That was the only reason. Then afterwards we were seeing a lot second generation meme-coins being created because of the Dogecoin pump.
Obviously Shiba Inu made a lot of early investors rich, everyone has to admit that, but that made the whole situation even worse. Now we had literally hundreds of new meme-coins appearing each and every day which definitely has hurt the market.

The valuation of doge coin was too high for a meme coin without utility usage. Im not even buying the meme coin but as for me, meme coin looks like a very bad coin to invest in right now. This time people have been expecting so many times doge coion to reach $1. The problem is if elon musk is not giving a very big impact to the doge coin like what happened in the past. Doge coin can only rely with the bitcoin but bitcoin is also facing difficult situation at this moment too. Never invest in meme coin.

I definitely would say that most altcoins are useless. Or more likely they have an use case that's not really needed and they act like they are building something important when it might as well be done with database or just using other similar coins. I would argue that meme coins have more use cases then 90% of the real world usage coins. They are not promising anything special so they aren't trying to bluff you thinking more of them then they are.

That being said, i won't be buying dogecoin. I see even shiba having more changes to moon. It has as much room to grow as we bring in new people in, and there are going to be new youngsters every year investing into memes. Stupid money doesn't care about fundamentals and there are LOTS of stupid money still coming in.

Doge coin give cryptocurrency a bad name it is known as a meme coin because it has no value and the reason it exists is to make a joke out of the people who use it. It has no features which are unique or make it valuable but memes are strong in society and people like to make a joke about things like this and that is what creates popularity but I have no doubt that Doge coin will die one day and a lot of people will lose money.

Maybe it's only for short trading purposes, people will always take a chance every time right? As for long-term investment purposes, I'm not sure that there are still people who believe in Dogecoin (DOGE), because investing in meme tokens nowadays is just a suicide bomb for people who buy it.


Nothing is impossible, mate. Everything can happen in crypto, depending on how the hype goes, 10x? even 20x is still quite possible (IMO).


For now I don't hold any memecoins, but in the past I pretty much held memecoins only for speculative purposes like $TRTL, $SHIB and $DOGE.