after gamestop's short squeeze, reddit turns to doge. 600%+ today

[ashmodeus]

no clearly info about that from WSB group , btw , i just following all of WSB thing on twitter , and so far, yes , they talk about doge many many times, but none of them has claimed they had do that. Also if that really because them , of course its just a big bubble, we can clearly see how many doge on circulation , and whales will join the party for sure.

I read on CNBC that someone made $22M from his $50K investment on GameStop in just a few weeks.

is that investement a guy from youtuber ? because i also hear on twitter a old guy youtuber buying 50k of gamestop shaares and now worth of 35M

[fullhdpixel]

If you guys head over to the Dogecoin reddit,

https://old.reddit.com/r/dogecoin/

You will see there are tons of people convinced that its not only going to hit $1 but might hit $10 even. So $10 Doge/USD would put its market cap at $1.1 Trillion, basically there are maybe a few stocks with market caps that high. It just doesn't seem possible.

However people saw GME go from $3 to $500 which is a 166x gain or Bitcoin from like $10 to $42000 which is a 4200x gain. So they think that Dogecoin can easily reach $1. However they are forgetting that GME at $3 had a small market cap same with BTC at $10. Going from the current price on-wards is not going to be so easy.

I do not believe that doge would be anywhere close those levels, even 1 dollars is impossible, however do not forget that even 10 cents would mean it would be 3x this amount, and that is with all that dump that happened after the pump, if it reaches 50 cents? That would be 16x increase, those are HUGE numbers and that is what people are going for right now.

You are going to see a lot of people who say 1 dollars or even 10 dollars but they are not really there because they want to make that kind of money, they are trolling and memeing enough to have fun while they wait, but this wasn't like what they did on GME, on GME they really hold and they did hold long enough to make it go up, in doge that wasn't like that, it went up but then crashed and that was it. This is why I think wallstreetbets can't go to crypto, it won't happen because they just end up selling.

[wxa7115]

I doubt it was the work of WSB, it was probably the crypto traders, just like when Elon tweeted about Doge. Just like in 2017 Bitcoin allowed alts to soar, now other shorted stocks and things that just get mentioned by influential pages, get launched to the moon because traders expect a pump, turning it into a self-fulfilling prophecy.

I'm definitely going to buy some DOGE after it will crash, it seems like the ultimate pump coin - it's very prone to pumps whenever someone famous mentions it, so buying it when it's down is not such a bad idea.

It could be interesting to know what were the reasons for the recent increase in the price of dogecoin, the price reached a high two days ago of 0.078 and in some exchanges this was even higher, and since it skyrocketed out of nowhere the only explanation I have is this was a manipulated move so I would have the tendency to believe the reddit investors in WSB were somehow involved.

However I wonder is this not just another pump and dump scheme? Yes they made the price of those stocks go higher but then the price went down as the demand could not be sustained and most likely some of those in the group sold their stocks for huge profits, to me anyone that participates in that group is taking a risk as Wall Street is not going to allow this to continue.

[tyz]

It is interesting to see small investors competing against institutional whales and making some money.

This reddit community is becoming powerful

Occupy Wallstreet 2.0 if you will.
In principle, people act in a decentralized manner en masse and are therefore difficult to attack. Not like back then when many protested 6-7 years ago in front of the central banks and stock exchanges around the world. It's kind of an evolution. So I'm curious to see how things will continue and if this movement grows or slowly die like Occupy Wallstreet 1.0.

[The Sceptical Chymist]

OMG, if I had just kept all that doge I used to own years ago....I'd be a happy dude right now.

I don't know what's up with this Reddit manipulation, but it does make for an interesting story now that I've read a little bit more into it.  Makes me wonder what the government is going to do in response--they've already made Robinhood halt trading on some stocks, but crypto is another matter.  Do you think the government cares about whether doge is now at its ATH?  I'm not sure.

[freedomno1]

OMG, if I had just kept all that doge I used to own years ago....I'd be a happy dude right now.

I don't know what's up with this Reddit manipulation, but it does make for an interesting story now that I've read a little bit more into it.  Makes me wonder what the government is going to do in response--they've already made Robinhood halt trading on some stocks, but crypto is another matter.  Do you think the government cares about whether doge is now at its ATH?  I'm not sure.

That feeling where you probably gambled a few bucks on a Dogedice site somewhere and now that same bet is a few hundred bucks and earned doge staking it lol for it to be worth a lot.
Gov doesn't care about the exchanges would need to cover the users' DOGE wallets or risk running a fractional reserve and defaulting.

[justdimin]

At the end of the day anything that is just between us will not be really sustainable, because you are buying from me and I am buying from you and it can't continue to go up forever that way, we need to figure out a way to actually take money from the very wealthy so that we could take a lot more. Why did GME became so much popular? Because they were taking money from Melvin and Citadel, they have insane amounts of money, tens of billions of dollars, which means there was really nothing hurting anyone, who got hurt from this movement?

It was just few hedge fund managers and their rich friends who invested into them, that's it. That is the way we should be thinking as well, and honestly we do not have that in crypto. Sure we could maybe try to earn as much as possible with the increases, but the reality is that wealthy people have bitcoin too so when we get richer they get richer too.

[$crypto$]

OMG, if I had just kept all that doge I used to own years ago....I'd be a happy dude right now.

Everyone feels the same in this delusion in the past years. I have had hundreds of doges. If only it happened now, I might get rich quick. lol

I am sure that behind this everything is controlling. I do not know whether this is the government or not, what is clear is that influential people will become a shield as real manipulation, but with this big pump, will doge still survive half the price of ATH? or will it return to the original price? how do you want.
At first glance, a lot of doge is used for gambling, but if it is expensive it will certainly reap for gamblers.

[slapper]

You can never underestimate the power of the crown. Doge has long become a prominent coin for many years eventhough it was first created for a joke. But now, many people have benefited themselves with this coin. Moreover, various companies do accept doge in the payment system due to the low fee. Not only that, gamblers really like to use doge since it is a cheap coin with cheap fee in which you are able to play many matches with such a low fund

Doge deserves to climb to $1. Institutional investors must have been scared of the retailers since they have lost more than 1 billions cause of GAMESTOP. In conclusion, right now, everyone has the same influence. We have the power to shift the current monetary system to the fully decentralized one. Let's go

[RealMalatesta]

OMG, if I had just kept all that doge I used to own years ago....I'd be a happy dude right now.

I don't know what's up with this Reddit manipulation, but it does make for an interesting story now that I've read a little bit more into it.  Makes me wonder what the government is going to do in response--they've already made Robinhood halt trading on some stocks, but crypto is another matter.  Do you think the government cares about whether doge is now at its ATH?  I'm not sure.

That feeling where you probably gambled a few bucks on a Dogedice site somewhere and now that same bet is a few hundred bucks and earned doge staking it lol for it to be worth a lot.
Gov doesn't care about the exchanges would need to cover the users' DOGE wallets or risk running a fractional reserve and defaulting.

I have done that with bitcoin and I am fine with it. On early days of bitcoin I have gambled 150 bucks with bitcoin, If I am not wrong that was a bit under 2 bitcoins at the time, and I ended up losing it. Today that 150 bucks is 60k+ dollars, and would have changed my entire life.

However I am not really living with a regret of that move because of two main reasons, one of them is the fact that I would have sold it if the price reached over 500 bucks, I wouldn't have waited for it to reach 10k+ let alone 30k+ price there is no way I can hold that long.

Secondly and more importantly if I was capable of figuring out how high it would go, I would have put everything I owned into bitcoin and not just 150 bucks I got some where, since I didn't see bitcoin going this high, I just had 150 bucks, that is proof that I never really understood what it could be in the future.

[Kakmakr]

What would be the motivation be for the Reddit group to pump Doge coin? Their strategy with the whole GameStop thing, was to put some institutional investors (brokers) into liquidation with the Short squeeze... but there are no large firms invested into Doge Coin. 

They might pump it to see if they can bait large investors to invest in Doge coin and then once that happens.. they might dump it for a profit. (Crowd Squeeze)

I hope Doge Coin is not a test run for Bitcoin, because that will be a tragedy if they start messing with Bitcoin. (It will take an enormous amount of money to do something like that)   

[jossiel]

If DOGE rises to $1, its value will occupy more than half of the current crypto market, surpassing Bitcoin, so the answer is no.

It really will be nice to see that price as it will make a lot more sense to see bitcoin shaken for once. Yes shaken to its foundation. May be that will make bitcoin miners quickly fix the delayed transactions and high fees people suffer when using bitcoin as transactions with doge is believed to be cheaper and faster.

That won't happen for real, believe me. Even if the market will grow tremendously, bagholders of dogecoin will just dump it while it's pumping which will lead it to push back again to stop hitting $1.

I think it's possible only to happen if it goes up to the point of growth in the price of $0.1-$0.5. That's close to the hope of $1 but look at its supply, it's the reason why I think it won't just happen.

[SquallLeonhart]

It really will be nice to see that price as it will make a lot more sense to see bitcoin shaken for once. Yes shaken to its foundation. May be that will make bitcoin miners quickly fix the delayed transactions and high fees people suffer when using bitcoin as transactions with doge is believed to be cheaper and faster.

That won't happen for real, believe me. Even if the market will grow tremendously, bagholders of dogecoin will just dump it while it's pumping which will lead it to push back again to stop hitting $1.

I think it's possible only to happen if it goes up to the point of growth in the price of $0.1-$0.5. That's close to the hope of $1 but look at its supply, it's the reason why I think it won't just happen.

I agree with this sentiment because there are so many people who bought under 10 cents even more people who bought under 20 cents, which means we are talking about people holding through 5x and even 10x increases and that doesn't happen that easily. Plus, the fact that bitcoin needs to stay the same, the whole crypto market stays the same, nothing big happens in any coin, but only the dogecoin goes up 10x for those investors? That is impossible.

Even right now it requires price to be 33x to be higher, seriously a 33x increase just to be 1 dollar, can you imagine how big that is? If you invested just 10k that would become 330k, if you invested 100 bucks that is 3.3k suddenly, it is really impossible for that kind of investment would happen that easily without anything else ever moving and just watching from the sidelines. Hence, I doubt it could ever be possible.

[kryptqnick]

https://cointelegraph.com/news/dogecoin-to-1-dollar-reddit-turns-to-doge-after-gamestop-surges-1-600-in-2-weeks

Dogecoin may have a long way to go to hit $1, but the stock market may not be in the mood to doubt the power of r/Wallstreetbets.
...
Dogecoin price licks GameStop's heels

Dogecoin already has something in common with $GME, both assets having seen publicity tweets from Tesla CEO and world's richest man, Elon Musk in recent weeks. As Cointelegraph reported, Musk's tongue-in-cheek endorsement of DOGE was enough to induce serious price action.

It is interesting to see small investors competing against institutional whales and making some money.

This reddit community is becoming powerful

Big Internet communities are hugely underestimated. I've watched some videos on Youtube by Internet Historian and found out about truly crazy things like identifying someone who was in a mask or finding a flag by a stream which features nothing else, and this was all done by angry people like this. The Gamestop case is very interesting because it shows how a bunch of guys can trigger something that would cause hedge funds to lose tons of money. And it also shows what hypocrites are those guys who are in the traditional trading market, but say that this is the real deal, whereas cryptos are speculative. Gamestop shares rising so much in price was very speculative, even though they're backed by the real shops, unlike Bitcoin which has nothing behind it.

[tyz]

Gamestop stock is now just over $100. It looks like the attack is on its last legs and the question will be whether the hedge funds will hit back and go massively short again or if they will wait and see. With the former, the game could start all over again. There are also increasing reports that one or the other small investor has made massive losses as a result of the campaign. As always, there are winners and losers.

[freedomno1]

Gamestop stock is now just over $100. It looks like the attack is on its last legs and the question will be whether the hedge funds will hit back and go massively short again or if they will wait and see. With the former, the game could start all over again. There are also increasing reports that one or the other small investor has made massive losses as a result of the campaign. As always, there are winners and losers.

It would be fun if Robinhood decided that it's over and let the retail investors buy more shares of Gamestop again and it goes up.
Seems like a hedge fund play covers the shorts then you insult them by resetting the table and telling them to ante up.

[virasisog]

A lot of people enjoyed the recent movement on Doge done by the reddit group, however, those who got FOMO during the hype had to suffer. Some people lost thousands of dollars being left put on the top and I don't think there will be another pump happening soon on Doge, so it's either they have to sell and move on or wait for a long time. The Reddit group is not far from other pump and dump group.

[Betwrong]

Are these guys following Elon's shadow or are they people of Elon? 
It's like whatever Elon did they are mimicking it.
Perhaps, it is connected. Just my own speculation. I am not really sure about it.

It's a good thing for me too although I don't really follow them.
I want to sell my Doge's at a good price as fast as possible. It's not like it's Bitcoin right?

The question is, what price to consider "good"? There are 803k members in r/dogecoin currently, and these guys are not going to give up easy. They are aiming for $1/DOGE at least. And apart from buying and holding, they are doing different kinds of things to promote DOGE even more. Just look at this post made 5 hours ago:



DOGE to the moon!

[justdimin]

It Is obvious that people who pump things will end up with nothing good at all in the end if you are not going to keep it up. Why does this GME thing continued this much? Because they were promoting how they should hold and hold not sell, sure if you buy that Is great but the main talk point was holding and that makes it very valuable and that Is the point.

It means we are in a world where holding is more valuable than buying because as long as people hold that means we are going to have the price at a good level. Doge and bitcoin did went up, but there was no holding, if you do not hold it is just a big increase that followed with a crash that ends up being nothing at all.

[Betwrong]

I think we are witnessing a new phenomenon here. r/dogecoin is up by 50k new members and DOGE is up by 65% during the last 24h. Previously only big whales could manipulate the market, and now it's hundreds of thousands regular folks buying $100-$200 worth of DOGE, and holding it. Yes, it will eventually crash after reaching “too high,” and, thus, unsustainable price. But two questions remain open:

1. What price is "too high" for DOGE?

2. To what price DOGE can descend(will there be a new "bottom")?