Dogecoin - History repeating itself

[goldkingcoiner]

I have been seeing Dogecoiners absolutely giddy about Elon Musk and over whether he will integrate Dogecoin into some Twitter-profit-scheme. This has led to a superficial pump in speculative nature. Why do people believe that Elon is not going to simply drop Dogecoin in the future?

Lets take a look at a similiar memecoin and its history:

Shiba Inu.

SHIB is in the top 13 on CMC and must therefore be a good investment, right? Wrong. It's trading at less than 15% of its ATH and is barely surviving.

Remember when it first came out? The idea was to do what most shitcoin devs were doing at that time and send most of the tokens to the wallet of a famous personality (Vitalik Buterin) in order to prove that the SHIB devs could never rugpull their investors and crash the price - they thought Vitalik would never touch SHIB as if there was supposed to be some unspoken, sacred bond between him and this ERC-20 token. Nobody expected Vitalik to donate the shitcoins/memecoins sent to him and crash the markets. Yet he did. Not all of them. Nonetheless the concept of a rugpull-proof memecoin failed. Vitalik did not care about the value of SHIB or the investors of SHIB. And so SHIB crashed and today has yet to recover even a fifth of its ATH price.

Now we have history repeating itself. Except this time with Dogecoin and Elon Musk as its only pillar of support.

I believe Musk is an egomaniac who only cares about the attention he gets from doing things like buying Twitter, making unsustainable cars or half-baked self landing rockets. He is just a bored multi-billionaire who wants more attention. Do people really believe DOGE can survive without Elon Musk backing it?

I for one will not be wasting my time or money just because some useless memecoin did what all cryptocurrencies do every now and then by pumping a decent 50+%.

[Smack That Ace]

Do people really believe DOGE can survive without Elon Musk backing it?

Yes, of course. You should remember that dogecoin has been around for a long time, if I remember correctly it has been in the market for more than 8 years and Elon only entered the market in 2021. But there's no denying that the doge's success today is due to Elon's hype, before dogecoin was only known as a meme coin, funny coin and didn't get too much attention until it was mentioned by Elon. Assuming from now on Elon will give up doge to shill other memecoins, then doge will not die but it will return to the previous position before elon mentioned.

[judeafante]

I believe Musk is an egomaniac who only cares about the attention he gets from doing things like buying Twitter, making unsustainable cars or half-baked self landing rockets. He is just a bored multi-billionaire who wants more attention. Do people really believe DOGE can survive without Elon Musk backing it?

I for one will not be wasting my time or money just because some useless memecoin did what all cryptocurrencies do every now and then by pumping a decent 50+%.

Absolutely power corrupts absolutely and Elon Musk's mind is corrupted he is now taking us for a ride with how he hype meme coins who would have thought that only Elon can hype a coin like Dogecoin after 8 years of existence some people believe before the hype that Dogecoin is on its way to oblivion but Elon test his influential on a coin that the community unlikely to hype and get a spot in the top standing, I would have praise Elon if he hypes coins or tokens that have proven their worth in the market for a long time, like Bitcoin.

[dansus021]

Do people really believe DOGE can survive without Elon Musk backing it?

Yes, of course. You should remember that dogecoin has been around for a long time, if I remember correctly it has been in the market for more than 8 years and Elon only entered the market in 2021. But there's no denying that the doge's success today is due to Elon's hype, before dogecoin was only known as a meme coin, funny coin and didn't get too much attention until it was mentioned by Elon. Assuming from now on Elon will give up doge to shill other memecoins, then doge will not die but it will return to the previous position before elon mentioned.

hhahha the dogecoin is actually to be mother of memecoin and shitcoin despite the fact they have unlimited supply and not much the real use case and they are using PoW that most climate people wont aggree but the dogecoin to be most liquid coin that all over the place Centralized even decentralized in BSC pegged by binance.

[MinoRaiola]

From our point of view, much of what is written here is correct. But when the bullrun starts, there must be coins that are strongly publicized by the media. People are primarily interested in what is written in the media, few of them go into detail and look at the technology, or the usability of the coin. For example, if the Los Angeles Rams win the Super Bowl, the team will sell more jerseys. This is a story that is written over and over again, whether in Memecoins or in sports. If you ask a newcomer if Doge has a limit, he probably won't be able to answer that, or maybe he won't understand it. But if he can show a wallet at the next BBQ-Party and has X.XXX.XXX Doge Coins, then he is the king. If you ask him about a limit of Bitcoin, then I hope that he can answered.Maybe these two questions without an explanation are useful at the next party. I will try it if asked.

[Yamifoud]

What happens to Dogecoin in the past is a good way to remember that manipulation is really possible in a decentralized project and when one of the known personalities like EM is capable of it. And until this person still backing up Dogecoin, we can expect that one day a surge of its price can be possible and even more bullish than before. I was going to believe that but I was neglecting to buy Dogecoin since I didn't find any news that could finger point to that particular event. But of course, I will also take ride of its pumps and hypes once it comes again.

[kamvreto]

Yes, of course. You should remember that dogecoin has been around for a long time, if I remember correctly it has been in the market for more than 8 years and Elon only entered the market in 2021. But there's no denying that the doge's success today is due to Elon's hype, before dogecoin was only known as a meme coin, funny coin and didn't get too much attention until it was mentioned by Elon. Assuming from now on Elon will give up doge to shill other memecoins, then doge will not die but it will return to the previous position before elon mentioned.

hhahha the dogecoin is actually to be mother of memecoin and shitcoin despite the fact they have unlimited supply and not much the real use case and they are using PoW that most climate people wont aggree but the dogecoin to be most liquid coin that all over the place Centralized even decentralized in BSC pegged by binance.

and all exchanges have Dogecoin. because indeed Doge "The Mother of memecoin". No doubt, even though the supply is unlimited but many are holding it even Elon Musk has been a Doge fan for a long time and because he is always being tweeted by Elon Doge it starts hype and reaches the most insane ATH in history. But if Doge's history is going to repeat itself or it can hit its highest price again it might require even stronger hype. But anything in the crypto market can happen overnight, it's likely to repeat itself or it's just going to be memecoin in general.

[Chlotide]

1. Don't compare doge with shiba. Doge is the only meme coin that counts
2. Yes, it is a cycle. When do we short it ?

[Ziskinberg]

Doge coin was doing well before Elon Musk decided to pump the hell out of the coin, this project is the best community backed crypto coin I guess that's why Elon Musk chooses the project out of many others, Dogecoin will soon become more than a meme coin now that Musk has taken over twitter space.

Maybe yes but can't just easily erase it from the mindset of many people who will still think that Doge is a meme coin and this also Shiba Inu. I say they are unique and far different from their kind but once they are still a meme coin, it keeps generalized that they are not suitable for long-term investment. And they just survive the market competition due to manipulation and shilled by an influential person like Elon Musk.

I don't stop people from investing in this project but it was just to remind the risk in them. Then, it was their decision to take it or just leave it.

[hd49728]

Each year, Dogecoin has good bull run around late of a year. This year it repeats the history which was made even before the appearance and engagement of Elon Musk and his interest in Dogecoin.

The rise of Dogecoin can indirectly help other "Doge" tokens to fly. I have no idea why people invest or join speculation with tokens only because of their names contain "Doge" word or related to Dog in its name.

Dogecoin is a proof of Work so it is a good altcoin to choose. In addition, the massive love of Elon Musk is helpful for it too. Elon Musk, Twitter and Dogecoin. Elon already becomes Chief Twit so he can more easily to add Dogecoin into Twitter.

[Liz Truss]

Of course, dogecoin has been around for a long time but I don't believe in the recent pump, might just be because of the Elon acquire twitter and Elon has been talking about Doge for quite sometimes now, hence the pump

[so98nn]

I literally stopped reading after you stated SHIB. In general they are all just capable of luring peeps into their universe where prices are so cheap that you can easily buy them in bulk and think you have huge amount of it and could easily turn it into fortune. Basically this is calling crowded funding ultimately because it’s little investment and that’s what peeps want these  days. You know that feeling of buying these shit coins and hoping that some of them will turn into bitcoin like price tag in the near future. That’s funny but bitter truth.

[fzkto]

Each year, Dogecoin has good bull run around late of a year. This year it repeats the history which was made even before the appearance and engagement of Elon Musk and his interest in Dogecoin.

The rise of Dogecoin can indirectly help other "Doge" tokens to fly. I have no idea why people invest or join speculation with tokens only because of their names contain "Doge" word or related to Dog in its name.

Dogecoin is a proof of Work so it is a good altcoin to choose. In addition, the massive love of Elon Musk is helpful for it too. Elon Musk, Twitter and Dogecoin. Elon already becomes Chief Twit so he can more easily to add Dogecoin into Twitter.

I am surprised that a lot of people talk about Ilon Musk in a good context because he is manipulating doge-shitcoin and the cryptocurrency market like he did in 2021. But many people make fun of bitcoin-maximalist Michael Saylor. Elon is acting solely in his own interests and now doge is being pumped solely on news of Elon's purchase of Twitter. I think this is wrong and not good for the crypto community.

[Baofeng]

I think Doge has established a blue print on how a meme coin could be big in the future.

And now that Shiba developer is just following it, and if Elon Musk join the picture then it's a win win for them and for Elon. However, for those who knows what's going on like the majority of us and the OP himself, for sure we will not take that bait and invest our money on such meme coin.

Elon has been full of s**t and clearly he is here to manipulate the prices in his favor, or for his pet crypto project to benefit his company.

[serjent05]

We all know that any market undergoes a cycle, like Bitcoin undergoing a 4-year cycle so it is not news that Dogecoin will go another cycle of pump and dump.  It was Wolong first that make a huge pump and dump scandal to Dogecoin[1][2].  Then comes Elon Musk.  So the cycle of Dogecoin pump and dump repeats itself, it is that it has no fixed timeframe and time cycle and dependent on the person who wanted to pump and dump the market.



[1] https://steemit.com/bitcoin/@joseph/wolong-the-game-of-deception-unedited-version
[2] https://cryptomode.com/curious-crypto-characters-wolong-the-dogecoin-manipulator/

[nutildah]

he will integrate Dogecoin into some Twitter-profit-scheme.

If by this you mean integrating a Dogecoin wallet, tipping mechanism, and accepting DOGE as a payment method for premium services, then I think its highly likely.

This has led to a superficial pump in speculative nature.

As opposed to every other pump of any coin, ever?

Why do people believe that Elon is not going to simply drop Dogecoin in the future?

He has a big bag, accepts it for payment of Tesla merch and recharging stations in a few areas, and has stated multiple times he plans to continue supporting Dogecoin in the future. He is just not the type of guy who will let his investments fail, nor would I want to bet against him.

Lets take a look at a similiar memecoin and its history:

Shiba Inu.

Not at all similar. One is a ETH token specifically designed to leech off the success and community of the other. DOGE has had its own blockchain & a strong community since 2013.

Now we have history repeating itself. Except this time with Dogecoin and Elon Musk as its only pillar of support.

Not true. DOGE has several bigtime vocal supporters, including Mark Cuban, Snoop Dogg, and of course Vitalik who has donated millions of dollars to the Dogecoin Foundation.

Do people really believe DOGE can survive without Elon Musk backing it?

Survive? Yes. Thrive at its current level? No.

Seems like the negative reaction over this issue from maxis just stems from them being their usual sour grape selves, jealous of the success of anything crypto-related that isn't Bitcoin, seemingly unable to experience happiness unless the price of BTC is pushing all-time highs. A cursed albeit self-imposed mindset.

[Jaered]

I think you're a bit harsh on Dogecoin and Shiba Inu. Yes they did dump. Yes, their billionaire targets may not like them. But you are forgetting something: We are in an unforgiving bear market which is unrelenting. Even legit coins/tokens with huge utility are biting the dusts. If this was in bull market, the story would be different
Get some perspective

[hd49728]

I am surprised that a lot of people talk about Ilon Musk in a good context because he is manipulating doge-shitcoin and the cryptocurrency market like he did in 2021. But many people make fun of bitcoin-maximalist Michael Saylor. Elon is acting solely in his own interests and now doge is being pumped solely on news of Elon's purchase of Twitter. I think this is wrong and not good for the crypto community.

Please read my post carefully. I wrote Dogecoin in previous years usually have its bull runs in late months of years. Years ago, there was no engagement or manipulation from Elon Musk  I used this example to convince people that even without Elon Musk, Dogecoin will still be able to pump in Q4s.

Maybe Elon will shill Dogecoin again. Maybe he won't do this. But Dogecoin will survive and have its bull runs as its habit.

However we can exclude chances to see morr technical things for Dogecoin from Elon Musk, Tesla and Twitter. Elon has enough resources to add Dogecoin to his companies. The highest option is adding Dogecoin as one of his companies' payment methods.

[Jackl87]

I have been seeing Dogecoiners absolutely giddy about Elon Musk and over whether he will integrate Dogecoin into some Twitter-profit-scheme. This has led to a superficial pump in speculative nature. Why do people believe that Elon is not going to simply drop Dogecoin in the future?
Lets take a look at a similiar memecoin and its history:
Shiba Inu.

It's really is kind of a repeating story what is going on with Dogecoin. When the first tweet of Elon Musk about Dogecoin happened back like 2 years ago it came pretty much out of nowhere for everyone and it caused a massive price pump of Dogecoin, but not only that. Musk and his tweets basically kicked off that crazy shit-coin hype wave that happened back then with literally hundreds of new shit-coins being released each and every day. Of course almost all of them are completely dead already again, only Shiba Inu is kind of still relevant but of course the longterm trend for Shiba Inu is also downwards and i would never invest into it. Same with Dogecoin.

[evichi]

I will advise holders of Doge coin to keep holding. History can actually repeat it self and moreover, you have your coin in the wallet. Doge coin will rather go up due to speculations and a likely hype if Elon eventually tweets about Doge coin. Now that Elon is in charge of twitter, it is possible he can deploy Doge coin to have some use case, just taking a guess.