Dogecoin really flying off the handle this morning

[tokyoghetto]

we are trading back down to 60 satoshis. this represents over a 10% drop from 24 hour highs. Amazing how much cryptos can move. Doge as a currency, to me, will never catch on. Doge as a trading vehicle it is prefect, plenty of money to be made and lost.

[BrewCrewFan]

It's so ridiculous I can't even comprehend, but Dogecoin is actually being used to do some seriously sized trading.

professional traders love doge because it can handle big size. its the only reason its getting pumped and dumped. no on wants to pump a coin that they can't sell at a profit, due to lack of liquidity.

Is that a bad thing? I mean if the coin is being traded at high values, then people are mining it, and if it has a high value, then people are using it..this is how stocks work, right? Obviously enough people think Dogecoin has value. You can't really dismiss this sort of market volume.

its a good thing because there is volume. but its a zero-sum game, for someone to win, some needs to lose. Miners who dump always win because they want btc. traders who pump win. the ones who lose are the one who buy high and sell low. remember that if a coin is at the top of coinchoose/coinwars, its going to hit with hashrate that only cares about mining and dumping. these prices won't hold, expect a pull back.

This, more so true now there are multiple multi pools out there. Which is good because your pulling hash away from other coins, letting the dif drop and us who dont buy into the hype mine other coins waiting for the rise in price on our coins.

Plus its the weekend, the normal followers are now active. Price wont hold.

[galbros]

No doubt this has been an impressive pump.  From ~40 satoshi to 70+.  It will be an interesting ride.  I have been very impressed with Dogecoin's resilience, it had and earlier run up and then run down (to the 20s) and has now rebounded nicely.  For a "joke" coin I think it has done amazingly well, no matter what happens from here.

[elixir]

hope the price can hold.

[paniczklos]

Hmm I think it'd be better if it drops. Diff is going up fast ;/

[coinerer]

Hmm I think it'd be better if it drops. Diff is going up fast ;/

When difficulty is going up fast means much more hashing power, computers, included into the mining. The purpose of that is in the preventing of successful mining bigger amounts of coins and dumping immediatelly. That means it is controlled by organizers mostly, at least at the beginning of the pump.

See at the chart on Dec 19, DOGE was at high of 0.02000000. That was initial pump. Now, todays pumped DOGE is still below 0.00000100.

Buy low, sell high is the rule. It means buy at the beginning of the rise, not at the end.