Elon Musk tweet causes Dogecoin holders to dump

[JooBra]

~snip

Issues are very easy to pack, but unfortunately people who accept these issues immediately think negatively. Dump done on Dogecoin today proves they lack confidence in trading principles. I think Elon is making contracts with many countries regarding the Tesla company.

At the end it didn't really dumo that much so I wonder what wil happen next. Well he didn't say anything bad about doge so it doesn't need to be much noise about it yet. We will see what will happen in near future.

[Oneandpure]

I think look break now for doge coin and I think he wanna make many trader and investor panic for selling doge coin but he wanna buy, many trick make by some one how to get much profit with their investment, make fud and give bad news then he can buy coin with lower price, later when have any coin assets on their hand will make good news to make many people interested to buy but he want to sell coin.

[fia_naila]

He want dogecoin to distributed well, and i dont think those holder will give it in easy way, but one thing for sure, elon is really interested to this coin, he want to pay big holder with his real $ just to void the wallet not to own the bag !!. He knows what people does not know about doge and its potential.

[dunfida]

If I look at the conditions of the exchange like this then Elon Musk tries to make the price collapse and that could make him buy more Dogecoin at a cheap price, but the reality is not like that, Dogecoin price movements are still good and currently back to increasing prices slowly land.

Tried to check out the market of Doge and it is indeed still on the good side yet it is starting to cling up again after some correction.When it comes to those issues

that pop-out from nowhere then this isnt something that still surprising into this market specially if a certain coin is being hyped or shilled then there would be likely some
upcoming issue that do happen next.

For now its up to those doge bagholders on what would be their decision but basing on the market movement it seems it doesnt really affect at all.

[agustina2]

If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue imo.

Now the question is if those Doge Whales will buy this statement made by Elon.

See how powerful Elon's tweet is. He thinks that he can shake the market anytime he wants with just a simple statement.

I Hope Doge whales won't buy this tweet. Let them hold this meme coin for long.

[GreekCoiner]

Just stop blindly follow Elon. He's trolling all the time. People like him with so much money can do whatever they want. He's just trolling in twitter and some people think he's talking seriously.

[bbc.reporter]

That's it. He has become a full McAfee.

I hope he keeps doing this and have his fun.

The SEC will probably have to interfere at some point.

The cryptospace has become a playground to distract everyone from the real story behind him and his company, Tesla. Tesla has been summoned by Chinese regulators and to stop a dump on the stock, what does Tesla do? The company buys bitcoin which might be as a distraction and copies a trick from Michael Saylor.

However, Tesla should be careful. From 2 of bitcoin’s last bubbles, the present bubble might begin to collapse on December, 2021. Will Tesla dump before that occurs and make the bubble burst before December?

[Reid]

This is really bad mentally.
Real supporters of Dogecoin will start thinking about manipulation in a different way. Worse way.
Just a tweet could move the market?
It could be a strategy of Musk to buy at a cheaper price but it doesn't mean every bag holder should follow it.
It's just too absurd.

[torrantz]

The problem about all these people is they really take elon tweet as somewhat a divine guide bestowed to them I mean WTF man. Maybe even if Elon tells them to buy stone they will do it aswell.
If the market could easily affected by someone's tweet it's safe to assume that the market itself isn't really decentralized but instead manipulated.

[avarnet]

I've actually warned you to be careful when you're in high Fomo, like when Elon Musk tweeted about Doge. there is a possibility that the market will reverse direction quickly. Don't take risks if the price gets too high. remember, we cannot predict the future market. now is evidence Elon Musk said otherwise about Doge. it's only 2 Weeks from the start of his Tweet. The market is risky to trade. keep control of your risk

[Snappycoco]

Bull runs of DOGE will now come to end. Without its real world usage, it will never go up. Elon Musk has made this coin popular and many was fooled by it. Crypto world is becoming a joke to some who have fortunes. I just wish ordinary people wouldn't be strongly affected by this.

[aryana42]

Issues are very easy to pack, but unfortunately people who accept these issues immediately think negatively. Dump done on Dogecoin today proves they lack confidence in trading principles. I think Elon is making contracts with many countries regarding the Tesla company.

Yes, but most people nowadays only panic when there is a problem that may not be resolved properly, even though it is very wrong, because while there is still concern for Dogecoin through Elon Musk, the value of Dogecoin will always be large.

[larus]

He is doing everything as he want, everything as usual

[mindrust]

That's it. He has become a full McAfee.

I hope he keeps doing this and have his fun.

The SEC will probably have to interfere at some point.

The cryptospace has become a playground to distract everyone from the real story behind him and his company, Tesla. Tesla has been summoned by Chinese regulators and to stop a dump on the stock, what does Tesla do? The company buys bitcoin which might be as a distraction and copies a trick from Michael Saylor.

However, Tesla should be careful. From 2 of bitcoin’s last bubbles, the present bubble might begin to collapse on December, 2021. Will Tesla dump before that occurs and make the bubble burst before December?

I didn't know about that story. Sounds interesting. If what you said is true the stocks are about to crash soon. You can't prevent the inevitable. If TSLA is on its way down TSLA buying BTC would mean only one thing: Both are going down.

Again, assuming what you said is true. Any source for that information btw?

[semobo]

so he just distracted the whole financial community and also made huge money from his tweets?

I don't think Tesla stock is going to crash due to the summon especially when the whole world is being manipulated to be Anti - Chinese mindset after the covid issue.

[blue_nexus15]

Yeh, In my opinion, Elon Musk has created psychological coercion among the Doge whales, frightening them and dumping them.  As a result, he won the sympathy and psychological cohesion of the community to dominate the support price threshold.  Next, he joined Tesla in creating a spirit of steel for bitcoin holders to look forward to.  In fact, he can do anything and improve the way people see it.  Just that humorous stance makes him special to the cryptocurrency world.  And he has all the conditions to do that.

[Altcoinsintel]

Musk found out after two years of pump and dump Tweets, that he was just playing the game of ten people and making them very rich. I don't care at all about Musk and he just looks like a modern McAfee. Maybe Musk will start having a coin of the day meme in Twitter and promote any shitcoin that pays him. We always say to do research before anything and Musk didn't do any research at all, just behaved like the usual twitter promotional accounts.

[jaberwock]

It appears Elon Musk has trolled the Dogecoin community. This might have also caused the number of bagholders to increase which might also cause an increase in the number people in the Dogecoin community hehehehe.

In any case, this might also only be a distraction from the bad news that Tesla was summoned by Chinese regulators for consumer complaints on quality. The skeptical me also thinks that the summon might also not be just caused by consumer complaints. There might be more behind the story.

He is crazy and most of times I have to read his tweets 2 or 3 times to actually understand what he is trying to convey. I think what he is saying is that, people who hold big amounts of dogecoins should sell their coins and Elon Musk might have meant that he will buy their coins if that's the case. too much concentration is actually the real issue with most coins because those who hold big amounts (higher concentration) can always play with the market hence Elon might mean that coins should be more distributed than being concentrated to few holders.

I am not entirely sure but that is my interpretation of his tweet. He has pumped dogecoin to quite massive numbers already and might continue to do so in coming time and there are even speculation of doge being $1 which makes me feel crazy.

[litepool.ru]

That's why I always say it's too risky for newcomers to this market, really after seeing it fomo and the price going crazy after tweets I think this market is too small for Let the shark whale take control. Elon Musk is always like that, I like his character but if he ever changes his mind, I think the price will go down.

[doomloop]

Doge is already experiencing a big bullish because of his tweets which makes an absurd ATH. I love Doge, of course, Doge is good for long term Hodl imo. *This reduction in price is an opportunity to buy

I don't think right now is the best time to buy or invest into dogecoins because yes the price might have dropped a touch and might go higher later but really it is always bad to invest into something when its experiencing a bull run and rolling around the all time high.

I am just watching the whole scenario and having fun because I don't care if the doge coin gets pumped or dumped but why I am watching all the tweets and reactions is because it helps understand what will happen to other coins in future when he promotes them.

With his series of tweets, Elon Musk did free advertising for Binance, and Binance earned obscenely much on MM DOGE and commissions (record trading volumes), apparently using part of the income on BNB.

The good thing about him is that he does what he feels right and good and doesn't care if in process a product or a service gets promoted.