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

[tyz]

DOGE is down by 30% since a week ago. The price is $0.05 currently, still high, compared to $0.0035 two months ago, but it looks like this is it. There are too many DOGE around, 128+ billion coins, for reddit community to pump it big again. Those are my thoughts, but, of course, who can know for sure? There's a nice meme in r/dogecoin regarding this

In the mid and long term, Doge will return to the low levels it was before the pump. Quite simply because there is nothing fundamentally in favor of this coin. It's a fun project, as it was planned and as it always will be. And a meme and play object for people like Elon Musk who briefly push the coin out of self-satisfaction. There's a reason Tesla invested $ 1.2 billion in Bitcoin instead of Doge.

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[darewaller]

In the mid and long term, Doge will return to the low levels it was before the pump. Quite simply because there is nothing fundamentally in favor of this coin. It's a fun project, as it was planned and as it always will be. And a meme and play object for people like Elon Musk who briefly push the coin out of self-satisfaction. There's a reason Tesla invested $ 1.2 billion in Bitcoin instead of Doge.

Actually, once the fun is over, the dogecoin might actually die as a cryptocurrency because already a dead coin it was and slowly dying. I remember a very good statement from someone "good advertising and popularity can kill a bad product even faster" and that is what will happen with dogecoin eventually as everyone who is buying now will want to get rid of it once the fun is over and Elon Musk stops the fake pumping through his tweets.

The smartest people right now in the dogecoin market are those who already cashed their profits when the price reached its peak. The dumbest will be those who keep holding the coin despite the price slowly coming down in hope that Musk will again pump it, and frankly speaking even the tweets from Musk are becoming insignificant and unable to lift the dogecoin market.