I don’t think he is doing this to pump his Dogecoin bags, he is the richest man on earth. I don’t think he is really investing his capital into Doge maybe just his free time.

Shiba definitely won’t be accepted at Tesla, this is just crazy. And I don’t think he bought Shiba either.

Here is what I think,

Like Phil said, Doge is very secured due to LTC mining. Doge is more or less like LTC, maybe missing the Segwit portion. If he accepts Doge, maybe people will use Bitcoin to buy a Tesla car and use Doge to buy accessories such as floor mats. The fees are extremely low for Doge.

However I think that one day, perhaps Dogecoin will be rebranded to say something like PowerCoin (bad example) and I’ll be taken more seriously with this new name rather than Doge which is nothing but a meme coin. And who knows one day it might be a top 5 alt coin.

Top 3 coins

Bitcoin
Ethereum
Dogecoin (PowerCoin)

Shiba and Doge are the furthest coins which you can consider “long term investments”. If you want something for long term investment besides Bitcoin then buy ETH, XRP, LTC, etc but not Shiba.

Shiba is nothing but a meme coin. Only reason it’s successful is because people missed the Doge run so they want a second chance, they got lucky when it got all those listings. However that wallet with the $5Billion in coins started to move and it’s tanking like crazy. Just now it’s making new recent lows. Keeps going lower and lower.

They can provide all the info to the authorities however what are the chances that they will actually do anything? Even if they catch them? Most likely there will be no money left to give back to all the investors.

The writing was on the wall and there was tons of warnings about the project, one hint was why it only went up. And people should of realized there is a good chance it’s a scam when you can’t sell. However on every bodies mine was to get 10x or 100x gains like Shiba so they just bought into this scam. This reminds me of the scam ICOs of 2017.

You make it seem like it’s easy pulling a 100x or a 10x gain. Let me tell you, it isn’t.

Sure you can use a futures broker go 100x leverage and you will make 100x your initial investment if whatever you buy doubles but you can easily get liquidated if it goes close to 1% below your entry.

Sure you can buy some cat meme or some Defi project and maybe in a few months or years it will be 100x however most likely you would sell it before it went 100x and you would need to buy hundreds of these projects to get lucky and pick the one that goes 100x

Credit goes to the twitter user below

https://twitter.com/Tree_of_Alpha/status/1456332297393872899

Seems that Tesla is testing payment in Bitcoin and another coin called SHIBA. However upon investigation it seems that the coin is called SHIBA but when he did a test transaction the address started with D. And then he did a test payment on the Doge network and when the payment was accepted it confirmed on the Tesla servers.

Never in a million years would of I guessed that he was actually serious and would start accepting Doge. Was assuming he would accept Bitcoin and Ethereum. Definitely not Shiba or Doge.

Wonder if someone will actually buy an entire Tesla vehicle paid for by Dogecoin.



 

The guy who owned a large supply of SHIB ended up moving his coins around. Basically like $5B worth sometime yesterday and look at the panic that it created. As long as it was detected on the blockchain all over Twitter and Reddit people got scared and started to dump their holdings.

This is proof how quickly the momentum can change of one coin. Last week it was nearing 10K and now looks like it would break 5K. Basically very little liquidity on the bid side and it’s running out of buyers quickly when it goes lower and lower.

You never heard of FTX before?

It was created by Sam B Fried the guy is worth like $20B or so. I first heard about him because it was Alamedao research which was a market maker in the day now they got their own exchange. It’s definitely legit .

They also sponsored and got their logo and name on many sporting areas. He is doing a great job in making people aware of crypto.

It’s hard to predict the top. Did you think $20k would be the top? No we assumed $10K would be the top. Same with $64K, everybody assumed $50 I would be the top. Now it’s no different, people are expecting $100K to be the top and most likely it’ll either go to like $95K or blow right past $100k.

You can use funding basis to predict tops however in a strong trend most of the time you exit way too early. The funding in early 2021 kept increasing and increasing from Jan all the way to the peak in April. Funding was nuts April something like 50% annualized. That means the top is very near.

It’s hard to say. Generally Bitcoin had these double tops before at ATH back in 2017 and 2020 when it broke. And after a few days it ripped higher up. So it seems like this is a possible scenario, especially being in Nov which is a bullish month.

What I am worried about is that everybody is expecting at least $100K all the way to $250k. We got people quitting their jobs to trade crypto full time, we got Mcdonalds doing NFTs, we got alt coins pumping like crazy especially meme coins.

So it should break ATH again how be careful because there is tons of greed out there.

I’ve looked into this also however what I found is that some coins will just never pump, it seems they are dead on the charts. If you want to know which coin will pump try and get in ASAP it’s listed on Binance or Coinbase. Even if you are going to have to chase it, usually it just keeps pumping.

Lately there are so many coins pumping for no reason it reminds me of late 2017. Where pretty much every single coin or token on an exchange got pumped. Inflated the total coin market cap and then went quickly crashing down when the correction came without any buy liquidity.

Well at least he says Bitcoin might go to $1 million in 15 years unlike some people who are predicting it will hit $1 million sometime in the next 12 months.

Lately people are expecting something like $250,000 in December and something like $1 for Doge and $0.01 for SHIB. The markets are getting extremely crazy. Also the SP500 hit a new ATH again today after the fed meeting.

Honestly I would be cautious, way too much greed out there lately.

This was a very brutal rug pull and it shows how naive some people can be. I think people just bought this primarily of the name and assumed it would be big, however they didn’t investigate and realize that you can’t sell it only buy. And the hint should of been how on the chart it just kept going up and up.

Lately on that chain I am assuming there is going to be more and more of these types of meme coins. And people will throw their money at it because they want the next Shiba or Doge type of meme returns and it’ll all end badly with rug pull after rug pull.

Stay safe out there.

Remember back in late 2017 when the Crypto markets were going so crazy and KFC decided to accept Bitcoin?

https://twitter.com/kfc_canada/status/951550065411313664


Now Crypto markets are going crazy again and we see this

https://twitter.com/McDonalds/status/1455174998264586243


Its good that history never repeats itself....

Keep in mind that KFC isn't as large as McDonalds. And this was only offered in Canadian KFC stores. That tweet which is 4 years only and only got 6K likes, the Mcdonalds tweet is 2 hours old and already has 10K likes...



EDIT:

Few hours later and this is what is being displayed on the NASDAQ exchange in Wallstreet in New York City

https://twitter.com/punk6529/status/1455208066186727430


EDIT 2:

There was a token called $Squid. People have been buying it like crazy. Price went from $0 to $6 a token in a matter of hours. And guess what. You couldn't sell this token at all.
People just started buying it like crazy because it was a Netflix show MEME, nobody read how it works exactly. Nobody read the whitepaper (even if there was one). Apparently only way to sell was to play some game which was very expensive to play. Then the dev did a massive rug pull. Reminds me of the ICO days when people bought ICOs which even said "This is a SCAM ICO" and people still bought it.

https://twitter.com/devchart/status/1455199777164075013



Crazy....

This was a crazy trading weekend, actually pretty crazy trading week. Sure Bitcoin didn’t do much but tons and tons of coins are pumping like crazy like MENA, AXS, SHIB, DOGE, AXS, etc. And they are pumping for no reason.

If you want to find the next coin that will pump, add alerts to all the alts listed on coinbase, if something all of a sudden get a volume spike it will most likely get pumped to double digits. Look at the data from the past 24 hour so many coins got pumped.

I never traded using astrology either however if you guys are ever on crypto Twitter there is some girl there which made tons of money trading Bitcoin using astrology. No idea if it’s real because it’s possible she could of deleted some of her unsuccessful predictions however some of them turned out to be true.

She didn’t necessarily predict a price or a direction but she would give a date, like 6 months into the future and on that particular day Bitcoin either had a huge bullish or bearish day. And it was exactly on that day that she predicted. No idea if it was just luck but maybe astrology has something to do with trading.

Gold is volatile when it comes, lately it hasn’t done anything however if you look at how it traded in the past it was very volatile.

In 2005 or so it was like $500 then in 2010 it was almost $2000 then 2015 it was around $1000. Sure it’s not as big as Bitcoin but keep in mind the larger market share it has.

Yes it’s done nothing in the past few years however I think one day it will become volatile again and it’ll either go to like $3000 or back down to $1000.

If you guys go to Coinbase Pro and look at the top 20 coins or so you will see that almost every single coin (except BTC) is getting massively pumped. I can’t find any coin which didn’t have a huge pump in the last 2 days. Seems that random coins are getting pumped for no reason what so ever.

You guys remember when every single coin on Poloniex got pumped like crazy back in 2017…2018? It seems that people are buying a little bit of every single coin on that exchange hoping that it’s going to get pumped sometime this week.

But like I said before. “Sh1tcoins pumping for no apparent reason… nothing to worry about just my 2018 PTSD”.

Yes it broke the ATH yesterday and now it’s trading below it. Not a good sign. Most likely on the weekly it’ll close also under the ATH and it’s generally a bearish sign. Since the old ATH is considered a major resistance area.

So I think most people are going to give it a few days or a week or two but if it doesn’t break the ATH and head to $5k a lot of people will look to dump their positions because they don’t want to experience what they experienced in 2018 where it lost 90% of its value very quickly.

Gone are the days of Bitcoin future exchanges such as Bitmex where all you needed to do was use a VPN and you could trade in countries such as USA. I remember that if you frequented the Bitmex troll box the mods even said to use a VPN if you want to trade in the USA. Later on that got them in hot water.

These days exchanges like Bitmex and Binance are KYC. So if you use a VPN you are going to have issues. You will need an identify in that country and this would be very illegal to do and risky and if you were caught your funds might be frozen.

Got the blame the regulators for allowing this to happen.

Generally for most products the warranty only applies if it’s in the country it was sold in. Your example is perfect because it’s one reason why prices differ from one country to the other.

I’ll give you another example. If you live in Canada, autos cost much more than USA generally. And depending where you live, the border can be a quick drive. So many people can easily drive across the border and buy a car however they don’t do that because the warranty won’t be valid in another country. Dealers in Canada would be upset because they make less money since people are buying south of the border. With GPUs and other electronics it’s the same situation.