Why are Doge shooting up?

[maeusi]

There may be good reasons, why doge are going up. They will never have transfer issues like BTC actually has. They are reproduced every year and are good to transfer funds. But as doges are not limited and already reached 1 billion $ market cap, aren't they already overpriced?

[xenomorphe1]

I think someone rich may have bought Doge at more than 100 satochis and is trying to hype the coin so he can sell them?

[maeusi]

I think someone rich may have bought Doge at more than 100 satochis and is trying to hype the coin so he can sell them?

Then he must be very rich. Some think, that doge would even reach 1$, but I think, that is technically not possible except dogecoin will get limited,  but then it would loose its advantages.

[Tike Myson]

It's simply about market cycle, it was anticipated and explained in this topic :
https://bitcointalk.org/index.php?topic=2339100.0

[Tstar]

I think someone rich may have bought Doge at more than 100 satochis and is trying to hype the coin so he can sell them?

I'm supporting your thesis too. There is no valid point an old meme coin like doge to grow. It's pump and dump and now it's too late to join the pump. We will watch only the dump.

[bitcointarget]

There may be good reasons, why doge are going up. They will never have transfer issues like BTC actually has. They are reproduced every year and are good to transfer funds. But as doges are not limited and already reached 1 billion $ market cap, aren't they already overpriced?

It's like a comedy movie, that's it for me. The value of doge is zero for me. Some rich whales are pumping doge to dump it on the people after the market gets into normal. Be careful, it will be dumped hard.

[McWorse]

Its because people fall for the low price per coin. They think, every cryptocurrency could reach hights per coin like BTC and ETH - and they buy DOGE DOGE DOGE in this wrong hope & believe. After they comprehend the relation between marketcap, supply and importance of the project, they sell immediately - or sit on a big big bag. Until the next stage of crypto mass adoption starts and fresh money and a lot of new players stepping in, just doing the same mistake and buy DOGE DOGE DOGE.

DOGE = a lot of big, worthless bags, passing from grown up newbies on fresh newbies again and again.

Let's call it the DOGE-Circle.
But its a very good indicator for the number of new players:
The higher the price, the more of new players.

Regards!
McW

[supremnoob]

Its because people fall for the low price per coin. They think, every cryptocurrency could reach hights per coin like BTC and ETH - and they buy DOGE DOGE DOGE in this wrong hope & believe. After they comprehend the relation between marketcap, supply and importance of the project, they sell immediately - or sit on a big big bag. Until the next stage of crypto mass adoption starts and fresh money and a lot of new players stepping in, just doing the same mistake and buy DOGE DOGE DOGE.

DOGE = a lot of big, worthless bags, passing from grown up newbies on fresh newbies again and again.

Let's call it the DOGE-Circle.
But its a very good indicator for the number of new players:
The higher the price, the more of new players.

Regards!
McW

Second this. But hey. It's such a wonderful coin

[maxxdxx]

Not sure if I should feel good or bad for myself. I found my old Doge wallet from 2013 with 1.3m ($9.5k when I checked then). I left 200k on it and used the rest to diversity my portfolio and then I see this. O well, TO THE MOON!!