Chinese New Year of the Dog, and the price of Doge?

[czhen]

something that has nothing to do between the Chinese New Year and the price of dogecoin.
but if giving a gift family with a coin shape might be related.

[G14tz87]

According to Wikipedia, Dogecoin which has a DOGE value unit is one of crypto currency with dog-like Shiba Inu logo from Doge internet meme as its mascot. Initially this currency was introduced as a Joke Currency on December 8, 2013. Although initially considered a joke, Dogecoin quickly developed its own online community and achieved a capitalization of $ 60 million in January 2014. As of November 2017, the capitalization of Dogecoin reaching $ 142 million. On December 19, 2013, the value of Dogecoin rocketed almost 300% in just 72 hours, growing from $ 0.00026 per DOGE to $ 0.00095 per DOGE, with trading volumes that doubled. This growth occurred at a time when Bitcoin and many other crypto currencies had trouble following China's decision to ban Chinese banks from investing Chinese Yuan into Bitcoin and its junior.

[Yuuto]

I was just wondering if anyone else expects to see a rise of the price of Dogecoin today, what with it being Chinese New Year of the Dog?

I know it is traditional on Chinese New Year to give gifts of money, and I suspect some of these gifts might end up being cryptocurrency, and some of these might be Dogecoin.

Does anyone else have an idea of the kind of gifts given today, and / or the time of day they are usually given on Chinese New Year?

Doge usually pumps in cycles of 6 months-1 year. And since it's already pumped late last year I doubt that we'll see it grow more in terms of price until the end of this year, at least. And that will be dependent on the performance of the total crypto market.

Doge is a pump and dump coin, essentially. There is no real substance to the coin.

The year of the dog thing can definitely mean that people hype more about doge and as it goes up, the FOMO kicks in. So if there is a pump this year, it's gonna be big.

[chutchmcgillicutty]

I'm not Doge lover or fan.
This is crypto world no need to reason for huge fluctuations.
But why some people thhings this is dog year in China and Doge will go to moon, isn't it weird?

I mean it'd be cool if it did...

[landahoy9]

I must say, I'm genuinely surprised that I've lost 10% of my investment of Dogecoin since buying in at 7am Beijing time on New Year of the Dog. 

Pass me my hat, cause I'll eat it! 

I mean, the coin is based on upon a Dog, it's one of the most popular and well trusted Altcoins, and I know the importance of New Year in China, and this combined with the quantity of Bitcoin miners and, you would therefore think, cryptocurrency enthusiasts in China.

I know a lot of givers of the traditional New Years financial gift may not be able to give using Dogecoin as their family members would be unlikely to have cryptocurrency access,

Perhaps some of the younger people who are receiving these gifts would be buying Dogecoin using the gifted money,- I wonder how long this would take for lets say a teenager in China, amidst all of the regulations and the Great Fire Wall? Could we expect to see a rise this month instead?

Anyway, I'm accepting my loss and getting out, and call me mad, but I am surprised!
I thought it would have been safe to say that at least a few people from other countries might have bought Dog coin yesterday, purely in anticipation of China buying Dog coin even