Bitcoin Forum

BTC price is going down, Dogecoin up, but don't fall into this newbie trap, it's all relative, the whales will sell Dogecoin back to BTC!

Musk's latest tweet triggered hope in those who wanted to make profit. Expecting that on the 8th of May he will say something about doge. It has already reached almost $0.5 and is a huge value for this nature. His followers still believe that Elon has done something, unaware that they are the ones who pumped the price. I wonder, if he believed in doge so much, why did he make a statement that he invested in BTC and accepted payments with BTC at Tesla? Is not that a good reason not to believe this man?

Doge already evolved to be another gem like bitcoin. I know that some people like you may feel if doge fully manipulated by the whales.
I think that the whales will not try to sell doge coin until this coin will have surpassed $1.
So many newbies were going to both doge and bitcoin. This time newcomers were seeing doge as lite bitcoin. More and more billionaires shilling for doge and it's difficult to give them all awareness about this.

BTC's dominance is decreasing.

Yes, you're right. It's always like that in that case. The whales would always turn back to btc after making some sweet profits. This is the time for those altcoins and the money is with them.

But after that, you know what's going to be next. Things will return to btc again.

There's always a lot of manipulation happening during the bull season, even a shit coin could rise and we have no idea why it happens, but newbies would just love to trade and ride with the FOMO. This is a fair warning, honestly, I'm not touching DOGE as this is a time bomb, anytime it could explode and dump big time.

Yes, within couple of months dogecoin's market cap reached 65 Billion USD and that's just unbelievable thing to happen to any altcoin in the history of crypto currency. It is literally a triplicate of what it had in the earlier days. With Elon's strategy of tweeting in between, the coin is gonna be pumped by public power with endless hopes!

The dominance might be increasing because that's what Elon wanted to happen and who knows he just want to see or imagine the DOGE at #1 position? Dam if DOGE even hit 1 USD people will not sell this coin, they will buy more and more out of FOMO.

Then there would be mentality that DOGE might be the next BTC so just buy and hope that DOGE would hit couple of 100's in years to come.

So yeah, it's good to have some chunks of this coin in your wallet at all times.

This was nice opportunity to increase my coin balance. I sold my doge at 0.56$ and now waiting for price below 40 and that I will buy it again. I like pumped without any reasons.

Yes, Now $doge pumped very well. This is really interesting. But newbie don't take a mistake . don't jumped any fomo.

I don't even think that whales are buying Dogecoin and thereby pushing its price growth. Most likely, this is done by those who succumbed to Elon Musk's tweets. You can only invest in this coin for a short time and you need to be ready to lock in your profit in time, since I also agree that it can fall deeply in price over time.
At the same time, the price effect of the Dogecoin bubble can also last for a long time if the buzz of investors continues. Cryptocurrencies are sometimes very unpredictable. However, one thing is clear: the risk of investing in this coin is now great.

Yes, I am also surprised to see Dogecoin's rise at the moment and even Dogecoin is already in 4th place in cryptocurrency rankings, so obviously this is extraordinary although the risk is always great for people who dare to buy at the current peak prices.

Or shall I say, Dogecoin is pumped by Elon Musk believers who have a strong belief that Elon is buying more Doges everytime he tweets something about it. People are pumping Doge. But technically speaking, you are correct.

I Don't know what happen in doge. And I can't say it’s overpriced. Because, When i see doge at $0.29 i think it’s overprice for doge. But, Now price is $0.50, And anytime can hit $1. Doge is gem. Doge investors are so lucky.

Whatever they use in pumping DOGE coin doesn't change the fact that it is still a shit coin except Elon Musk try and get a utility for it in the nearest future. I'm sure everyone will eventually be tire of his pump and dump tactics.

Adoption od Doge increases lately after the fee on BTC and ETH increased to insane amount also Whales and Musk is on the side of Doge so eventually it is on the hype while I don't see BTC is on the real down trend, it went below 50K but for now the prices remaining very strong above 54K region so there is a strong resistance is building at this level for BTC.

Doge is a hidden gem in the crypto world. We do not know if the price can be over price as now and reach $0.5, but that is really happening now and we do not know if the price can reach $1 or not. But I guess the big whales will try to push the price to reach $1 soon. It will be a good moment if we still hold some Dogecoin and not sell if the price does not reach $1, but we should use every moment in the market to profit from any coins that will increase, including Dogecoin.

Yes. I thought so. Most likely the Doge price will drop again, and BTC will return to the pump. Because some of the BTC assets were sold to pump up Doge.

I totally agree with the OP, the recent price action of  Doge coin is as a result of Whale manipulating the price, when they are done, the price will correct and back to its position, this is not just about Doge Coin but all these Meme coins we see in the space. A lot of people that entered the space in this bull market will learn this lesson in a hard way

DOGE coin haa been pump again because of elon musk hype there have an event on may 08 2021 the people is being hype now thats why the coin doge has been pump now.

I really can't believe that dogecoin is over 50 cents. I just do not believe how it could worth that much money, it just doesn't make sense at all. I know that it is a coin in the end and all coins could go up or down, there is nothing inheritably bad or good about it, it is just a coin like any other. However from even the start, there was so many people who bought too much of it, there is a dude who bought 5 million dollars worth of dogecoin in 2014 and he owns 1.9 billion dollars worth of it right now.

Volume of dogecoin could not cover that, if one person sells 1.9 billion dollars worth of doge that would take it under 5 cents all over again, maybe even under 1 cent who knows, sure some hype of "we finally got rid of him!!" would make it go back up , but not here. So it never made any sense to be to invest into something that was that much risky, but I guess people saw something I couldn't.

You need to get serious with Doge actually. if you have invested just about $500 for Doge when its price was just $0.05 you could have been happier with the pumps happening in Doge. It doesn't matter now if the coin started as a joke or meme. People can be that vulnerable when some say anything to fud.

Cryptocoin is money and when people are buying the coin in the market, the intrinsic value comes in which Doge now is more than $0.50

I'm really curious why Dogecoin is so popular among investors, when BTC goes down and Dogecoin goes up too? What are the advantages of this coin over other coins? I think if you mine Dogecoin it will make you rich

This is a cycle that we're dealing with since the past trends, when the altcoin season is done BTC will take over again. What's happening with DOGE right now is pure of hype, and if you're not a risktaker you are missing the opportunity to make money with DOGE. You'd better to start analyzing DOGE now and join the pump and dump, in short term, you can have a good profit but of course I don't believe on holding DOGE for long term especially yearly, the supply of DOGE increases.

I don't believe any pump in dogecoin is realistic. they are all balloon ascension. a coin that is doomed to fall sharply afterwards. because it does not have an infrastructure to take firm steps forward. no project. It is rising completely under the name of popularity. People prefer Dogecoin because of their interest in making money in the short term. Do not attribute the decline in bitcoin to the greatness of dogecoin.

DOGE has no other utility other than for the fun purposes it was originally intended for. The strength of the DOGE coin holder community greatly influences other investors who understand the pump mechanism and also people who take part in FOMO. Taking center stage after Elon Musk's tweet, DOGE will continue to make headlines in various media which will actually make this dog coin more popular and more and more people buy.

Only bad news will be able to correct this overly over-priced DOGE.

doge hype in any media actually be the main reason why doge coin pumped alot. new investors start buying this coin , moreove they know elon often make tweet about doge, and most of them said it will go to moon or mars. doge advantaged by continuesly articles in any popular site and new buyer always come.

DOGE is very valuable today but if you are looking fundamentally, you'll realize that this is just a hype and a bubble will soon burst so better to exit with DOGE as soon as you made your profit because you can never know what's the future of DOGE especially it is being manipulated, and the hype of Elon will not last. After the altcoins trend, they'll start to buy Bitcoin again which can move the market into a new heights.

Dogecoin was always on hype and it is under Elon Musk's influence.  It might be the reason for the sudden increase because recently Elon Musk tweeted the image of Doge barked to the moon (https://twitter.com/elonmusk/status/1382552587099062272).  We know how influencer he is that could be changed people's minds and those who follow him.  Social media hype had been always been there and probably you can ride this too to gain profit and wait when Elon Musk tweeted Bitcoin and either Dogecoin.

In other conclusions, when Bitcoin dominance will increase, it's most likely altcoins price will increase.  I saw not only Dogecoin was pumped, but also Ethereum.  This could be another reason.

from the price of Dogecoin increasing at $ 0.1, so many people say don't invest in Dogecoin and you will be trapped, because the price will definitely go down very deeply, but until now the price of Dogecoin has continued to increase and has reached $ 0.6, so now we shouldn't hesitate to invest in Dogecoin,
because in my opinion Dogecoin already has a lot of support and of course that will make the price of Dogecoin definitely continue to increase, so $ 1 is an easy price for Dogecoin to reach, therefore don't let your doubts make you lose the opportunity to get profit from investing in Dogecoin.

Truly a big hype that pushes the Dogecoin to pump up even if the leading coin btc is dropping. This would not affect without Elon Musk and Rapper Snoop Dog tweeted about the cryptocurrency. After this trend everybody should be careful and wise of making profit cause in no time it will drop as soon as whales starting to release.

Do you think doge will be able to reach $1? That would be crazy. And yeah, I am sure they are going to dump their dogecoin soon and get back into BTC. With BTC dropping right now, perfect opportunity for them to maximize their profit.
ETH seems to be doing good too. At least Ether isn't a joke coin (and getting pumped/manipulated) like dogecoin. Would be even better if people jumps back to ETH after dumping their doge.

I agree, this is the typical definition of a pump and dump scheme, of course who wouldn't want to see your portfolio growing with Doge pump? But for sure, the price could go down anytime soon when smart investors decided to shift back to Bitcoin again.

Don't want to sound naive here, but when the price of Doge goes down hard, there are going to be a lot of bitching around from this community specially coming from newbies.

That would be crazy if Doge reaches $1.00, but who can't tell? The current pump was the effect of Elon Musk tweet and many are joining the hype even if buying on top. It's not the question if Doge can reach $1.00, the question is how big the crash is if suddenly the whales move out of the bandwagon and goes back to bitcoin for more profits.

There could be newbies being trap because they buy on the top and the only way to get out is to sell at a loss. And this is what all these pumpers are going for, trap those newbies and make more money for them.

BTC's dominance is decreasing and it just shows that people right now are selling their Bitcoin just to invest into altcoins.
Is this the start of the altcoin season?? I know that some believe that it is and some are not.

With regards to DOGE pumping, the integration of E-toro to DOGE alongside with Musk's tweet really made DOGE into the 4th highest coin in terms of market cap. DOGE right now is very hyped and if you are planning to at least invest into it then think twice or even thrice. We've seen it went up this day and the next day it will go down very hard and there are some big time whales out there who are holding a huge chunk of DOGE.

Nowadays Dogecoin is different because the community is so strong and Elon Musk is the main actor in the increase of Dogecoin. Currently, Dogecoin is most likely to reach the top 3 coinmarketcap with the highest volume, maybe Elon Musk will increase the price of Doge in order to be able to use Dogecoin as a payment tool to buy a car, Tesla, this could be the next surprise that makes Dogecoin more expensive than when the price of $0.6 could have increased much more drastically.

This is the crypto cycle. So many demand were moving to the doge coin but they will be going back again to the bitcoin. This is happening so many times. People are FOMOing doge coin right now
that's just the matter of time until those who have bought doge will come back again. Once a big news for bitcoin will come soon and I'm sure migration will be happening from doge coin to the bitcoin.
Doge coin was a meme coin and it's getting manipulated by the whales. I hope we will see that asap

It looks like most of the money is on Dogecoin now. It can be seen from the very high increase even the volume of Doge in the Binance market is almost 3x the volume of BTC, a decline will probably occur if the price of Doge will fall in the near future.

but still, the people who were holding Doge back at this time had a huge advantage. Doge's price is now more than half way to $ 1. well, i honestly think that it's impossible to see Doge achieve that. however, it is even now possible. Right now I really believe that in the world of cryptocurrency, in terms of price, anything can happen.

That's what I have thought of as well. Most of the coins that are pumping are inversely related to the direction of BTC. I guess this could be a great indicator of what you could do next towards knowing that it has pumped. It's scary to think about when it will go down, but it could be rewarding to ride the wave as well.

It's close to reaching $1. I think it will be close to it but not that close then go back down around $0.2 I guess.

It's too late. so many newbies have joined in the doge coin pump and the whaes have been giving them all very big profit.
The whales will never try to sell their doge coin for bitcoin again. People are strongly hodling both bitcoin and doge coins. There are lots of my friends owned bitcoin and doge coin.
The fact that the hype already made so many people thought that if doge could become the next bitcoin.

The crypto world began to talk a lot about doges because the price was getting crazy over time ..
and many who invest in it ,, do not know later whether it will last long and can be valued at 1$/coin or vice versa..
I myself am a little afraid if I want to buy a Doge at this point, because the pump is very fast..:'(

Dogecoin is really crazy, the jump is amazing to the point of getting into the 4th position in crypto, the potential is inevitable, there is a huge risk to buy Dogecoin at this time considering its high price, but if in the future Dogecoin can do even higher, profits await.

I do not know what describes the current potential of Dogecoin, it continues to grow very rapidly, $ 0.6 and 4th place in crypto is an amazing achievement, and it is true, buying Dogecoin today will cause its own turmoil due to its high price, but if used for a long-term investment, Doge is a great choice, and as long as Elon Musk keeps his controversy and sticks with it, I'm sure Doge will show some amazing things over and over again.

Agreed，just some whale's trap, Doge just a bait, i am insist on this point, so i hold zero Doge now.
But it really hurts to see Doge pump and pump, but i keep whispered in my heart "it's a trap",over and over again to prevent invest in Doge,haha.

Literally, Elon Musk has a power to push up the price of this meme coin. Considering owning millions of dogecoins with so many wallets, the movement of the price will be easily manipulated by them.
 
 I remembered the price of dogecoin today was the price of xrp before, too. The path of xrp has been repeating by doge's way of pumping when its come to the price. But then again, the question is, what is the great use of this coin? The development perhaps is obviously stagnant and was just being pumped

Looks like the beginning of the end. Dominance of Bitcoin is going down fast and altcoins are repeating their exponential pump as it happened in 2017. It was the same then, thousands of altcoins including too many scams and too many vaporware were found to be valued at extreme prices.
It is a huge warning to see Dogecoin this high for the whole market. Maybe they can keep pumping it and make it to $10, it will still be worth less than a penny in fair value terms.

Its all about that price are still going to the up after doing a tweet by Musk. I think its a huge trap for newbie investor who just get enter to the market and getting a news and put his all capital on it. They will surel make loss as i read tge market. However its still Doge is a good project but look like over priced to me.

I think it's the opposite if ever Dogecoin will reach $1. There will be a lot that will be in FOMO but mostly, they're going to sell it and won't let it pass the opportunity of taking their profits.

We'll just ignore those holders that will have that mentality who will think that it's next to BTC. It's a mistake for those holders that have seen it hitting up and won't take profit.

There are two opposite feelings in me regarding the DOGE hype by Elon Musk. In one side, I feel happy because a big figure like Elon Musk was starting to acknowledge how amazing cryptocurrencies are. But on another side, I feel disappointed, why it has to be Doge, a  meme coin without certain utility. There are so many projects with amazing use cases out there that can be introduced to common people. I'm afraid with this kind of hype, the crypto world is only known as a dump and pump scheme without any clear purpose.

Yup this brings a shadow over the crypto market and especially when the Dogecoin bubble will burst there will be many people disappointed and with their money lost.

How do you know about that?? Please explain
Doge/BTC pair  has more volume than another pair?

We are not sure about that. I have more than 20 exchange account and there is only one exchange which put doge to be major pair.
Thats mercatox exchange

Did you manage to withdraw dogecoin from mercatox this year?