Why Dogecoin Is Crypto's Most Dangerous Joke

[Baofeng]

This article is very long.

https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo

Do you agree with what it says?

Have read it and agree with what it says because it is backed by facts, some dangerous signs are on it, Dogecoin is an example of a coin used by whales to do a pump and dump scheme, majority of investors are in FOMO, there are times FOMO is but if you don't know when to exit you are in trouble of being a bag holder or cutting your losses, it's still the meme coin that we all loved but I don't see Dogecoin lording it over coins with
with real potential in the market and with contributions to the development of the community.

Yeah, just need to be cautious with Doge, but if you have enough experience and the balls to ride and invest, you can get out take profits easily. The problem is that there are noobs who agree with Elon Musk and blindly trust his words. And it really did push the price of Doge, nevertheless we all know that the price won't go on a parabolic rise. And Doge will be Doge (still a meme coin), which ever angle you look at it.

[finaleshot2016]

This article is very long.

https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo

Do you agree with what it says?

Have read it and agree with what it says because it is backed by facts, some dangerous signs are on it, Dogecoin is an example of a coin used by whales to do a pump and dump scheme, majority of investors are in FOMO, there are times FOMO is but if you don't know when to exit you are in trouble of being a bag holder or cutting your losses, it's still the meme coin that we all loved but I don't see Dogecoin lording it over coins with
with real potential in the market and with contributions to the development of the community.

Yeah, just need to be cautious with Doge, but if you have enough experience and the balls to ride and invest, you can get out take profits easily. The problem is that there are noobs who agree with Elon Musk and blindly trust his words. And it really did push the price of Doge, nevertheless we all know that the price won't go on a parabolic rise. And Doge will be Doge (still a meme coin), which ever angle you look at it.

Agreed, there are many people who can't make their own decisions and rely on popular people like Elon Musk, and they're easily influenced by people like him, which is why market manipulation occurred recently. To be successful in investing, you must understand the use cases of each coin in which you have invested to ensure that you are investing in a viable project such as ADA and others. Doge is merely a meme coin with no practical application other than for retailers who accept it as a payment method. Only newcomers will fall for Elon Musk's remarks; I don't fully trust him; I only want to join the hype if there is one.

[Bitstar_coin]

The 3 key points explain it all, not very many people use dogecoin yet the price experience a serious swing, Few people hold larger share of the supply, many people already complaining about it, unfortunately those who buy it are not thinking along this point, since Elon stand as brand ambassador to dogecoin lol, some people feels it is safe to buy it,
Dogecoin is an old project that has survive many test, who knows what the future holds for it, anything can happen in crypto.

[Eureka_07]

<snip>

Do you agree with what it says?

Dogecoin is originally created as a meme token. Just from that, it should have a very low value. But since it's price is very dependent on us (buyers and sellers) it's price goes up and down. The dangerous thing about this coin is that it is volatile, and most of the time recently, it's price is manipulated by known personalities, specially Musks.

[tygeade]

This article is very long.

https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo

Do you agree with what it says?

I do see Dogecoin as a risk, but then isn’t all cryptocurrencies similar in this way? They’re usually all about investments and risk, there will always be those who will lose their money when it happens. But, I do feel like Doge coin is more dangerous to invest in than, let’s say Bitcoin itself, but if the community should grow like as we have in Bitcoin I think it’s going to be hard for it to fluctuate that much. Then the problem we’re having right now is that there are few whales who hold the largest portion of this coin, if they should decide to dump it in the market then it’s going to affect Dogecoin seriously ‘cause it’s going to lose a lot of value.

And when such things happen people are going to be discouraged and a lot of people will leave the market. A lot of them are now hoping for the $1 increase which they don’t even know if it’s going to happen or not, because if we check years back it really took Dogecoin a lot of time before it started to um trained like this.

[Jackl87]

This article is very long.

https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo

Do you agree with what it says?

I have never been a friend of meme-coins and during the last few weeks and months i was very worried when all of those new meme-coins appeared. I mean back in the day we saw like 50 new meme-coins launching everyday and none of them had any use-case at all. I really think that this was a very bad development for the whole crypto space, because nobody can understand and comprehend when all 10 top projects in terms of volume both in uniswap and pancakeswap where meme-coins a few months ago with absolutely 0 use-case and functions but still they had 10s of millions of dollars of trading volume and then after a week or so they were dead again of course. I am really happy that the meme-coin hype is slowly dying at the moment.

[alpamar99]

This article is very long.

https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo

Do you agree with what it says?

Have read it and agree with what it says because it is backed by facts, some dangerous signs are on it, Dogecoin is an example of a coin used by whales to do a pump and dump scheme, majority of investors are in FOMO, there are times FOMO is but if you don't know when to exit you are in trouble of being a bag holder or cutting your losses, it's still the meme coin that we all loved but I don't see Dogecoin lording it over coins with
with real potential in the market and with contributions to the development of the community.

schemes like this will always exist and will not be banned by anyone. and regarding this there are two possibilities that you should consider, namely the first do not ever participate in things like this when you are a beginner and still can't really determine where you start and where you stop and the second is that you can enter when you have guts and high confidence but with a fairly high risk but if you succeed the profits will be very large.

[Dragonfund]

This coin is purely for manipulation. You have to be a very risky guy to trade her. Personally, I stay away from her.

People will always buy anything that doubles their money, and many people see the opportunity in dogecoin and don't want to miss out. This is why I tell people that most investors are here for the money, not the technology, and that only a few people care about scalability, which is why real Altcoins are still fighting how to get real adoption.

I don't consider dogecoin to be a shitcoin because it was created for fun and ran on its own blockchain, but most influencers have turned it into a dump and pump coin that has spawned hundreds of dog projects, it's a shame that the circle hasn't come to a stop despite numerous scams and frauds.

[ene1980]

People will always buy anything that doubles their money, and many people see the opportunity in dogecoin and don't want to miss out. This is why I tell people that most investors are here for the money, not the technology, and that only a few people care about scalability, which is why real Altcoins are still fighting how to get real adoption.

It is true that majority of the investors are here in the market to earn a quick profit. They really do not care about the fundamentals of a project and there are many seed fund investors who negotiate big deals so that they will get huge amount of coins than the general public usually gets and those investors really do not care about the project and once that hits the market they will pump the coin and in the meantime book their profit as well.

I don't consider dogecoin to be a shitcoin because it was created for fun and ran on its own blockchain, but most influencers have turned it into a dump and pump coin that has spawned hundreds of dog projects, it's a shame that the circle hasn't come to a stop despite numerous scams and frauds.

I do not consider Dogecoin as a dangerous joke even though it has a limitless amount of coins and the recent pump is due to manipulators trying to pump the coin.

[livingfree]

I don't consider dogecoin to be a shitcoin

It's actually it is that's why it's a meme coin.

because it was created for fun and ran on its own blockchain, but most influencers have turned it into a dump and pump coin that has spawned hundreds of dog projects, it's a shame that the circle hasn't come to a stop despite numerous scams and frauds.

That happened due to Elon's attention.

And look where he is right now, he's quiet about it and probably sold at the top and that's why those who have bought at the top maybe are taking the regrets of being hyped.

[Capt00]

This article is very long.

https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo

Do you agree with what it says?

  Dogecoin was only promoted by Elon Musk, and I agree with this assertion. Dogecoin has no long-term prospects, as seen by market activity, and the high price of the cryptocurrency it wont last long.

[jostorres]

This article is very long.

https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo

Do you agree with what it says?

It is true that dogecoin could be the demise of many smaller level coins and even the cause of a crypto crash. People do not realize this but there is no future to dogecoin, sure it was fun while it lasted but buying a coin just because some rich person suggested and joked about it plus it was funny to be doing something as a whole community is not a good enough reason to keep a coin high.

Doge will be gone soon, it will be out of top 20 and by that time the price will crash, which will result with many people losing money and then the crypto market to have a crash as well. Crypto market will eventually recover but why would we have such a thing just because some people wanted to make profit on some joke coin.

[Yamifoud]

I don't consider dogecoin to be a shitcoin

It's actually it is that's why it's a meme coin.

because it was created for fun and ran on its own blockchain, but most influencers have turned it into a dump and pump coin that has spawned hundreds of dog projects, it's a shame that the circle hasn't come to a stop despite numerous scams and frauds.

That happened due to Elon's attention.

And look where he is right now, he's quiet about it and probably sold at the top and that's why those who have bought at the top maybe are taking the regrets of being hyped.

They probably feel how hyped has been ruining their life and made them lose. Not to wonder that Elon Musk makes benefits from this as he is the one who controls its prices and these people who come and follow him got caught in the trap.
I'd never heard Elon being active in crypto space after playing the market. He is gone taking the money of innocent people who come and praise him without knowing his real intention. Even though this project has been in the market for many years, it is never been in my mind to invest in this nor I have the interest.

[lumierre]

Dogecoin was only promoted by Elon Musk, and I agree with this assertion. Dogecoin has no long-term prospects, as seen by market activity, and the high price of the cryptocurrency it wont last long.

Looks like you just woke up saying Dogecoin is only promoted by Elon Musk and has no long term prospects .
Did you know that Dogecoin has been around since 2013? So did Elon Musk know Dogecoin at that time and is Dogecoin dead by being in the top 10 coinmarketcap? please answer now.

Personally I don't see any real value that can support Dogecoin, so I also think that its pump was caused only by interest from Elon Musk who can control its price easily. I am sure that he just wanted to make money on speculating the price of Dogecoin, so he bought first and then started his tweets so as to pump its price. He is just a manipulator and he could control Dogecoin's price.

[livingfree]

That happened due to Elon's attention.

And look where he is right now, he's quiet about it and probably sold at the top and that's why those who have bought at the top maybe are taking the regrets of being hyped.

They probably feel how hyped has been ruining their life and made them lose. Not to wonder that Elon Musk makes benefits from this as he is the one who controls its prices and these people who come and follow him got caught in the trap.
I'd never heard Elon being active in crypto space after playing the market. He is gone taking the money of innocent people who come and praise him without knowing his real intention. Even though this project has been in the market for many years, it is never been in my mind to invest in this nor I have the interest.

They have learned it the hard way.

They have to dealt those losses for them to learn that it's not always what they think when someone popular has shilled a coin like Dogecoin.

[Moeda]

This article is very long.

https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo

Do you agree with what it says?

No one predicted the price of Dogecoin to reach $0.73. This is why some people think that Dogecoin is a dangerous joke. Furthermore, the current dump as if it will never return to ATH ever happened. Elon Musk who was once present for Dogecoin, is now talking about another token in a recent tweet. This signals that Dogecoin will not provide a positive value if Elon Musk leaves it.

[freedomgo]

That happened due to Elon's attention.

And look where he is right now, he's quiet about it and probably sold at the top and that's why those who have bought at the top maybe are taking the regrets of being hyped.

They probably feel how hyped has been ruining their life and made them lose. Not to wonder that Elon Musk makes benefits from this as he is the one who controls its prices and these people who come and follow him got caught in the trap.
I'd never heard Elon being active in crypto space after playing the market. He is gone taking the money of innocent people who come and praise him without knowing his real intention. Even though this project has been in the market for many years, it is never been in my mind to invest in this nor I have the interest.

They have learned it the hard way.

They have to dealt those losses for them to learn that it's not always what they think when someone popular has shilled a coin like Dogecoin.

It will always be a dangerous ground for all those who have believed in the hype and look at it now where the price of dogecoin is going. Its price is never as valuable as before and with the absence of Elon, everything will most likely to come to an end. And right now, i know those people who have been lured by the hype are already in regrets seeing themselves lossing  while selling at a lower price. I hope this will serve as a lesson to those investors who are eager to make huge profits even if it means investing in those coins that have less potentials compared to those solid and well established coins.

[dupee419]

I read the article, and I agree, I've read several posts back then here in the Altcoin Discussion board all about how Dogecoin was actually made just to become a meme, it was really intended to be a meme, and I thought that it only exists just for the laughs, I even introduced cryptocurrency to my friends using Dogecoin, since they love memes, I am sure that they'll try to actually try investing in it, later on, I never expected Dogecoin to go all the way to the moon, apparently, Elon Musk and several people were behind the skyrocket value of Doge, and my friends were still holding it, which means they gained a crazy profit after holding it for a while, Dogecoin really isn't a laughing matter or a meme anymore.

[Finestream]

Dogecoin was only promoted by Elon Musk, and I agree with this assertion. Dogecoin has no long-term prospects, as seen by market activity, and the high price of the cryptocurrency it wont last long.

Looks like you just woke up saying Dogecoin is only promoted by Elon Musk and has no long term prospects .
Did you know that Dogecoin has been around since 2013? So did Elon Musk know Dogecoin at that time and is Dogecoin dead by being in the top 10 coinmarketcap? please answer now.

Personally I don't see any real value that can support Dogecoin, so I also think that its pump was caused only by interest from Elon Musk who can control its price easily. I am sure that he just wanted to make money on speculating the price of Dogecoin, so he bought first and then started his tweets so as to pump its price. He is just a manipulator and he could control Dogecoin's price.

And sorry for all those noobs who easily believe on Elon Musk because they might be experiencing losses with the current dogecoin's value. For me, dogecoin has never got the potentials to keep its price always on the rise because once a meme coin, there is no real guarantee that it will create significant pumps in the market. Most likely, if they got pump and then experience dump, they cannot easily recover again, the worst is that will not have any chance to recover so they end up just like dead coins.

[Desmong]

We know that a lot of the dogecoin supply is controlled by a few whales. Investors should be aware of the risks. I really feel it's very dangerous. Some people may be greedy and lose a lot of money if whales decide to dump but this is no different from gambling. The risk is pretty big on this and it is hyped by Elon Musk, he pumped it and at any moment he will be able to pull out and the price will completely crash. I think This is a meme and that means Elon musk doesn't have any plans to make it a good foundation for the long run.

Doge coin should not be taken as a long term investing coin cause anything can just happen in the market and the unexpected will happen. The cryptocurrency market can be manipulated attracting more investors to buy a particular coin with have a thorough search about what nd where they are putting there money. Eon could be responsible for the surge in the price of dogecoin coin and that does not mean he will keep on pushing the price upward.