I Wouldn't Invest $1 In Dogecoin And Here Are 10 Reasons Why

[hamba laeh]

in my opinion this is a wrong thinking and will never apply to traders. because traders are only looking for opportunities to be able to get profits in a short time. Dogecoin has become a major focus among traders because Dogecoin has opened up opportunities for direct trading and can make huge profits in a short period of time. because traders know that doge is an altcoin meme and it is unlikely that traders will hold this altcoin for a long time.

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[Meta anggraini]

in my opinion this is a wrong thinking and will never apply to traders. because traders are only looking for opportunities to be able to get profits in a short time. Dogecoin has become a major focus among traders because Dogecoin has opened up opportunities for direct trading and can make huge profits in a short period of time. because traders know that doge is an altcoin meme and it is unlikely that traders will hold this altcoin for a long time.

IMO traders take any position with many consideration like Fundamental or Technical analysis.
I dont think Doge have them and AFAIK Doge investor mostly invest because influenced by some influencer that only offering instant profit of riding the hype.

[JooBra]

I don't believe in Doge but that didn't stop me from taking some profits from it. I catched it going up and now going down to short trade it. And I think every smart trader should do that in this kind of situations.

[btcltcdigger]

1. 108 addresses (whales) own 67.34% of all Dogecoins so price could drop 50% in a minute.

2. This coin has no limited cap. It goes on forever like fiat. We all hate fiat for that.

3. Despite what Elon Musk says this coin has no real utility. Even if a company paid with Doge for Musk to send a satellite (because Musk asked them to use Dogecoin) it still doesn't mean a thing. They could have used carrots or Zimbabwe dollars instead.

4. This coin is all about hype. Once the hype is over down it goes. Even if Musk will boost his toy as long as he wants one day he may get bored like all billionaires do.

5. This coin is a meme. A really good one that I've enjoyed myself! We all like good jokes but we also get tired of them sooner or later. A joke is a joke and the joke could be on you.
 
6. Imagine a real corporation/business putting their investments in Dogecoin. You have to be a little insane and there aren't so many dumb people out there as Elon thinks.

7. Elon Musk is a narcissist - he admitted this himself - if you don't know what dealing with a narc is I invite to find out. You're only boosting his ego and I wouldn't dare playing with a narc's toy.

8. Do you think billionaires have any interest for poor people to become rich? Do you? Dream on. You're only making Musk and the whales richer than they already are.

9. This coin is highly manipulated. If you like manipulation go for it. But manipulation doesn't end well in life. Don't be a sheep, use your own mind, don't follow the crowd. Where many follow it's not good in general.

10. Even if it will ever reach $1 this coin is not sustainable in the long run. Musk will have to pump every few days with his tweets. When this coin will worth $1, BTC will easily worth $100K or more. Dogecoin has always been pump and dump, look at the coin's history and look at BTC.

There are a lot of other alt coins much safer and with a better image which can make you rich faster and easier than Dogecoin. You just have to use your mind. Doubling from 50 cents to $1 is not a spectacular gain after all.

When Dogecoin drops like crazy don't come here to cry, you've been warned.

Good luck folks!

Awesome points. I'd give you merits if i had any left, sadly i don't.
But the thing is, you can't reason with degens and apes. There will always be idiots chasing that quick buck, and when it crashes, it's always someone else's fault

[Sled]

Hopefully, this will serve as educational learning from people who are eager to put their money on DOGE. Because of the hype, they failed to realize that DOGE does not have a future of long-term success, the success is just short-term and anytime it will disappear leaving most investors disappointed for holding a bag of DOGE, I hope they'll wake up early.

[v3liana]

Well said Bro! Never invest in coins like this. There are many other coins that have good fundamentals and have working product and service, why should we risk our money into something that is not certain. For me doge = gambling.

[PrivacyG]

Great write-up.  Doge is a bad investment for sure.

Regular people will however continue to focus on quick profits while the upper class searches for the next big gems.  In a scenario where the upper class helps the poor, power is typically transferred or shared from the upper to the lower classes.  Upper classes hate this.

After all, Elon Musk is a stranger to all of us.  Social media does give a false feeling of closeness, and it is our job to counter it.  Nobody will try to help you out without paying a price for it!  It is said that when something is offered to you for free, you are the product.  In this case, you are the pump helper of Elon Musk.  With every Doge you purchase, Elon Musk's unknown wallet grows.

By the time whales cash out, demand will fall off the cliff and Dogecoin's price will drop significantly.  It is possible that we are in fact right in the middle of this situation right now.

-
Regards,
PrivacyG

[hatshepsut93]

Lots and lots of people get blinded by greed. They start actually believing that Doge has some use-cases and potential that could justify this insane price. Come on, doge went up by 20000%, did its adoption increase by the same factor in the last few months? You don't need to be a financial analyst to understand that an asset which price depends on troll tweets of one person isn't going to have a bright future, but too many people developed bagholder mentality aka emotional attachment to their investment.

[kak uli]

I think there are some points that you are conveying that are very true, but it all depends on the attitude taken by many investors. I personally have been trying to invest in Dogecoin now and as a result I have made a profit, but for now I am buying it again to wait for the high price of $ 2 or 3.

[Asuspawer09]

1. 108 addresses (whales) own 67.34% of all Dogecoins so price could drop 50% in a minute.

2. This coin has no limited cap. It goes on forever like fiat. We all hate fiat for that.

3. Despite what Elon Musk says this coin has no real utility. Even if a company paid with Doge for Musk to send a satellite (because Musk asked them to use Dogecoin) it still doesn't mean a thing. They could have used carrots or Zimbabwe dollars instead.

4. This coin is all about hype. Once the hype is over down it goes. Even if Musk will boost his toy as long as he wants one day he may get bored like all billionaires do.

5. This coin is a meme. A really good one that I've enjoyed myself! We all like good jokes but we also get tired of them sooner or later. A joke is a joke and the joke could be on you.
 
6. Imagine a real corporation/business putting their investments in Dogecoin. You have to be a little insane and there aren't so many dumb people out there as Elon thinks.

7. Elon Musk is a narcissist - he admitted this himself - if you don't know what dealing with a narc is I invite to find out. You're only boosting his ego and I wouldn't dare playing with a narc's toy.

8. Do you think billionaires have any interest for poor people to become rich? Do you? Dream on. You're only making Musk and the whales richer than they already are.

9. This coin is highly manipulated. If you like manipulation go for it. But manipulation doesn't end well in life. Don't be a sheep, use your own mind, don't follow the crowd. Where many follow it's not good in general.

10. Even if it will ever reach $1 this coin is not sustainable in the long run. Musk will have to pump every few days with his tweets. When this coin will worth $1, BTC will easily worth $100K or more. Dogecoin has always been pump and dump, look at the coin's history and look at BTC.

There are a lot of other alt coins much safer and with a better image which can make you rich faster and easier than Dogecoin. You just have to use your mind. Doubling from 50 cents to $1 is not a spectacular gain after all.

When Dogecoin drops like crazy don't come here to cry, you've been warned.

Good luck folks!

That is true and that's really the thing here but still, we cannot ignore the DOGE coin since when we see how the market work I think some traders could work it out.

For me, you could still make an easy trade and maybe gamble a little bit with it, because I mean that's an easy profit maybe just a 100$, The community is surely big and a lot of them for sure believed in DOGE, we can surely notice the price can sustain at a certain level.

But for sure it's not a good investment especially when it comes to long-term investment and it's not really a good investment if your gonna invest a big percentage because it's kinda risky because of these reasons.

[Nanda Dewi277]

This coin is indeed not for a long term investment. So far, I only buy and take profit from Doge coin, utilizing this hype but only for scalping. I also do agree with you that I will not hold this coin because it is as what you said at all.
I am wondering if this coin has reached its higher price in $1 as what people say, what will happen again to this. Probably when those billionaires have been bored and have been taking very big amount of profits, they will throw away and let us the small people to feel depressed of it? Hahaha

[tabas]

Well said.
Even it is $0.1, I don't think that I'll invest on it. I still find it to be expensive even it drops in an instant with that pricing. The true thing about Dogecoin has been said, it's a meme coin and you know guys what meme is.

[xianbits]

1. 108 addresses (whales) own 67.34% of all Dogecoins so price could drop 50% in a minute.

2. This coin has no limited cap. It goes on forever like fiat. We all hate fiat for that.

3. Despite what Elon Musk says this coin has no real utility. Even if a company paid with Doge for Musk to send a satellite (because Musk asked them to use Dogecoin) it still doesn't mean a thing. They could have used carrots or Zimbabwe dollars instead.

4. This coin is all about hype. Once the hype is over down it goes. Even if Musk will boost his toy as long as he wants one day he may get bored like all billionaires do.

5. This coin is a meme. A really good one that I've enjoyed myself! We all like good jokes but we also get tired of them sooner or later. A joke is a joke and the joke could be on you.
 
6. Imagine a real corporation/business putting their investments in Dogecoin. You have to be a little insane and there aren't so many dumb people out there as Elon thinks.

7. Elon Musk is a narcissist - he admitted this himself - if you don't know what dealing with a narc is I invite to find out. You're only boosting his ego and I wouldn't dare playing with a narc's toy.

8. Do you think billionaires have any interest for poor people to become rich? Do you? Dream on. You're only making Musk and the whales richer than they already are.

9. This coin is highly manipulated. If you like manipulation go for it. But manipulation doesn't end well in life. Don't be a sheep, use your own mind, don't follow the crowd. Where many follow it's not good in general.

10. Even if it will ever reach $1 this coin is not sustainable in the long run. Musk will have to pump every few days with his tweets. When this coin will worth $1, BTC will easily worth $100K or more. Dogecoin has always been pump and dump, look at the coin's history and look at BTC.

There are a lot of other alt coins much safer and with a better image which can make you rich faster and easier than Dogecoin. You just have to use your mind. Doubling from 50 cents to $1 is not a spectacular gain after all.

When Dogecoin drops like crazy don't come here to cry, you've been warned.

Good luck folks!

Wow, all 10 points make sense. And I hope people who read this will wake up to their senses and realize what they have to realize. If all of this will be over, there will be a lot of losses for its supporters. I hope they can exit as early as now.

[Saint-loup]

1. 108 addresses (whales) own 67.34% of all Dogecoins so price could drop 50% in a minute.

2. This coin has no limited cap. It goes on forever like fiat. We all hate fiat for that.

3. Despite what Elon Musk says this coin has no real utility. Even if a company paid with Doge for Musk to send a satellite (because Musk asked them to use Dogecoin) it still doesn't mean a thing. They could have used carrots or Zimbabwe dollars instead.

4. This coin is all about hype. Once the hype is over down it goes. Even if Musk will boost his toy as long as he wants one day he may get bored like all billionaires do.

5. This coin is a meme. A really good one that I've enjoyed myself! We all like good jokes but we also get tired of them sooner or later. A joke is a joke and the joke could be on you.
 
6. Imagine a real corporation/business putting their investments in Dogecoin. You have to be a little insane and there aren't so many dumb people out there as Elon thinks.

7. Elon Musk is a narcissist - he admitted this himself - if you don't know what dealing with a narc is I invite to find out. You're only boosting his ego and I wouldn't dare playing with a narc's toy.

8. Do you think billionaires have any interest for poor people to become rich? Do you? Dream on. You're only making Musk and the whales richer than they already are.

9. This coin is highly manipulated. If you like manipulation go for it. But manipulation doesn't end well in life. Don't be a sheep, use your own mind, don't follow the crowd. Where many follow it's not good in general.

10. Even if it will ever reach $1 this coin is not sustainable in the long run. Musk will have to pump every few days with his tweets. When this coin will worth $1, BTC will easily worth $100K or more. Dogecoin has always been pump and dump, look at the coin's history and look at BTC.

There are a lot of other alt coins much safer and with a better image which can make you rich faster and easier than Dogecoin. You just have to use your mind. Doubling from 50 cents to $1 is not a spectacular gain after all.

When Dogecoin drops like crazy don't come here to cry, you've been warned.

Good luck folks!

Poor virtualdn you seem to be really bitter and sad to have miss the train, sorry the rocket to the moon... How did you manage to miss such opportunity, you're not a noob, you are a legendary member according to your profile   I wish you good luck with your other promising altcoins, another richest man in the world could buy them and shill them if you are lucky 

[Psynthax]

Most of doge investors who expect doge to get $10 price are simply too naive, they think billionaire such as elon musk want these people to be millionaire and make quick buck by shilling it, but as we all know there need to be demand that buys the coin when we're selling our doge and whales definitely aren't gonna giving away some free money to add the demand, the demand coming from the same retailer who want to get rich quick as well because of elon.
If you invest in doge because you know that it's just temporary hype and want to make profit despite of that, it's fine but if you think billionaire want to make you rich, then that's the problem.

[bussybuddy]

I don't need too many reasons to invest in this coin and I have almost x100 return, and of course it doesn't affect the entire investment no matter where it goes, but I'm different. For everyone I don't expect it to surpass $1 or more because I sold all of them to protect my achievements and the greed won't be for it at the moment.

[LogitechMouse]

Straight to the point.
These reasons are pretty obvious already.

The problem is people are easily blinded by greed and they bought at the top hoping that it will give them huge profits. If you are a leverage trader then it can give you huge profits but for an average traders and investors, this huge run-up that DOGE has made because of hype that Musk did.

Unfortunately, those greedy people are suffering right  now because DOGE seems to go down already and now starting a bearish trend in short term. I feel sorry for those investors who bought at the peak... or not . Let them learn it the hard way. Many are telling to them already things like "Don't invest into DOGE as it is a hyped coin" or "DOGE has reached its peak, don't invest to it" but there are still some who are hard-headed and invested into it. Now they are regretting.

I will not touch DOGE even though it will reach 1$ which is I think impossible right now and will always be impossible.

[Rruchi man]

Thank you so much for this, I told my friend today who has an inkling for investing in altcoins alone about how he should try not to be so enticed by the hype about doge coin to the extent that he converts all his coins to it because the coin is highly unpredictable. I am not the type to argue because he almost started an argument about it and i simply just let the matter be. Because i love him too much, and he is my friend. I will share this with him, so he can see for himself that there is a whole community of people who have done their research on the subject.

[iTradeChips]

The unusual investment wave of small investors in the community is increasing strongly. People invest in unusual things like celebrity tweets, memes like DOGE, SHIBA, animal crypto. This investment wave may end soon like GAMESTOP stock.
Unappreciated investment safety rules are dangerous for new investors. Blind community support will be what hinders serious projects from developing.

I did noticed that wave of people investing in relatively unknown or lesser known cryptos. I just wonder where these people are getting the news of these coins and many of them scramble to invest as early to the coin as possible so they will be able to get the profit that they wanted. Right now DOGE is struggling to keep itself on top as many people are now panic selling their initial investment in DOGE and it maybe a matter of time before DOGE will be left back to its meme price which is less than 5 cents.

[bitbollo]

these argumentations about dogecoin are well known by anyone that has enough experience on cryptocoin. it's very useful spread these info, just to give some basic info for newbie that are trying to understand better this world. 

Personally I think that what we have seen with such coin has been something "unique" and I think pretty impossible to see again with another meme coin.