Dogecoin - History repeating itself

[eightdots]

Many people around me have made very good profits from Doge. Now I'm not going to insult the Doge here. Nobody is forcing us to buy this cryptocurrency. Everyone acts of their own free will. They should know how to make enough money and sell when Elon pumps. I think Elon has helped a lot of awareness about the crypto market. I can't say anything about positive or negative. He advertised crypto very well. Thanks to Twitter, I think these pumps will continue. We must not be greedy and know how to get a certain amount of profit and leave. Elon today, someone else tomorrow. There will always be pumps. Therefore, our goal should be to know how to make the right investment. My personal opinion is not to invest in such cryptocurrencies. But as I said, there were those around me who made very good profits thanks to these coins.

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[fzkto]

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.

Doge is already well pumped just on the news that Elon bought Twitter. I don't think it's time to fly to the moon yet and the manipulators have made a successful price manipulation. Now it seems logical to me that the price would fall back. Because there are still no signs of a reversal in the cryptocurrency market.

[goldkingcoiner]

I see a lot of people spitting on SHIB while praising DOGE with the argument that DOGE has been around since 2013, has built a big and active community, blah blah blah.

You guys realise that that is not a good argument for Dogecoin, right? Its been around so long and yet Shiba Inu already has amassed around 40% of Dogecoins marketcap - despite existing (in a practical sense) since only 2021. If anything, that just confirms Dogecoin being a failure of a cryptocurrency which is only being pumped due to famous personalities who manipulate it to enrich themselves in short-term fashion, like Elon Musk.

Sure, there are other famous personalities which cheer Dogecoin on but who cares about what celebrities like Snoop Dog think when it comes to investment decisions?

Do yourselves a favor and don't fall for the memecoins.

[nutildah]

Yep, just a memecoin that happens to be 10x faster and 100x cheaper to send than bitcoin.

[sana54210]

That's the cycle in crypto even though it's clear that doge was slammed very hard by Elon Musk but still there are still many people who believe in Elon Musk like a god. As indeed most people find it difficult to learn from their past mistakes.

That’s mainly because people are not aware of the fact that Elon already bashed dogecoin and doesn't like it anymore. They have seen him praise it, but they have not seen that he dislikes it now. That lack of information is the reason why they do not really have a problem with it anymore.

I personally believe that Elon will not do anything with doge, and it will go down, especially during next bull run when everything goes up, doge will not have the help of Elo not go up and it will go down in price. I remember it very well when it was under 3 cents and nobody cared about it, and now we can see that it is so high, and was even higher, just because of one person, which was weird, but I believe that period is over now.

[fzkto]

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.

Doge is already well pumped just on the news that Elon bought Twitter. I don't think it's time to fly to the moon yet and the manipulators have made a successful price manipulation. Now it seems logical to me that the price would fall back. Because there are still no signs of a reversal in the cryptocurrency market.

In addition there is another encouraging news after Elon has completed the payment for Twitter and another news that Elon has launched his new perfume by accepting payments with Dogecoin and Doge will be linked to Twitter.  This news is still a rumor, I have not found the source of the accuracy. he has always been a staunch supporter of Dogecoin and his popularity has had a huge impact

I guess your expectations will turn out to be reality. I think Elon Musk will integrate dogecoin-related features into Twitter. There are indeed many rumours about it and the doge continues to rise today, adding another 30% to its value. Hopefully this is a good sign for all altcoins.

[tvplus006]

That’s mainly because people are not aware of the fact that Elon already bashed dogecoin and doesn't like it anymore. They have seen him praise it, but they have not seen that he dislikes it now. That lack of information is the reason why they do not really have a problem with it anymore...

Elon Musk has never lost interest in dogecoin before, and now that he has bought Twitter, he has a real chance to make his early dreams come true. And his post today can be a confirmation of this: https://twitter.com/elonmusk/status/1587297730631696384 Therefore, it is not surprising that the price of Doge increases on such news.

[Polkeins]

That’s mainly because people are not aware of the fact that Elon already bashed dogecoin and doesn't like it anymore. They have seen him praise it, but they have not seen that he dislikes it now. That lack of information is the reason why they do not really have a problem with it anymore...

Elon Musk has never lost interest in dogecoin before, and now that he has bought Twitter, he has a real chance to make his early dreams come true. And his post today can be a confirmation of this: https://twitter.com/elonmusk/status/1587297730631696384 Therefore, it is not surprising that the price of Doge increases on such news.

To be honest this is a very strange behavior. Still it is not very clear whether he really wants to implement Doge in Twitter for payment or it is just a PR and it will turn out as with Bitcoin, when on Tesla report bitcoin rose at first to 20 and then to 60 thousand and after some time Tesla quietly sold Bitcoin for 40-60 thousands, when everybody was buying.

[tvplus006]

...when on Tesla report bitcoin rose at first to 20 and then to 60 thousand and after some time Tesla quietly sold Bitcoin for 40-60 thousands, when everybody was buying.

No, Tesla has received losses from investing in bitcoin, some of which have already been recorded. In February 2021, Tesla bought BTC - https://www.sec.gov/ix?doc=/Archives/edgar/data/1318605/000156459021004599/tsla-10k_20201231.htm in the amount of $ 1.5 billion, with an average cost of $31250. According to Tesla report for the 2nd quarter of 2022 - https://tesla-cdn.thron.com/static/EIUQEC_2022_Q2_Quarterly_Update_Deck_J8VLIK.pdf?xseo=&response-content-disposition=inline%3Bfilename%3D%22tsla-q2-22-update.pdf%22, 75% of BTC were sold for $936 million, i.e. it turns out that the average cost of selling one bitcoin was approximately $29 thousand.

[tjtonmoy]

as long as you can make profit out of your investment, i think meme coins are a total waste. I will never suggest someone to invest in meme coin.
And when it comes to Elon Musk, he's not going to keep backing up DOGE for forever. And it does not compare to other reputable crypto such as ETH or BTC. Meme coins to me is just Meme as its name suggest.

But with these trend and other rumors, if it pumps or dumps, then book your profits and get out of the market. Meme coins are not ideal for long term investments.

[abel1337]

Well yes, Doge have been here for a long time and still supported by the community. Elon is the one who make the price jump and I am speculating that even if Elon Musk take out his support to Doge, Doge will just suffer for a temporary price dump and will continue to exist because of the OG in the community. Certainly, Doge will take a toll by having it's CMC spot low given that Elon Must believers sold their Doge but I think that Doge will still exist on atleast top 50 of CMC. Remember that Doge is a meme coin but even if it is a meme coin, Doge is on top of the game.

[goldkingcoiner]

Yep, just a memecoin that happens to be 10x faster and 100x cheaper to send than bitcoin.

Yeah, totally. There are absolutely no other coins or tokens which are faster and cheaper than Bitcoin AND have actual use cases with are meant to actually do something to raise their value, not just speculatively but substantially... Totally not.

I am sure the community feeling is all you need. Thats never going to disappear, right? No massive panic sells once Elon says "Nevermind, screw doge, I decided to make my own cryptocurrency" or something, right?

Dogecoin is the ultimate copecoin.  

[Zanab247]

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.

Yes, that is why am still holding my Dogcoin because I know that the price of Dogcoin will surely increase higher soon in the crypto market, since potential investors in the community has also invested a huge amount of money in Dogcoin. I guess, Elon musk can influence the price of Dogcoin to pump higher in the market so that those that invested a huge amount of money to start earning from their investments, and to attract more investors to make Dogcoin their first choice in this bear season.

[hd49728]

Dogecoin is favorite coin of investors and traders but it can easily kill traders and gamblers who short it at wrong prices.

The coin is available for trading on many exchanges from both old and young ones, big and small ones. In addition, it is avialable for leverage tradings that is another factor to help its runs. When Dogecoin starts to rise, some people will short it and they will be killed later by forced liquidations. It helps to fuel Dogecoin rises more seriously.

[yhiaali3]

The answer is clear, of course, Dogecoin cannot survive long without the support of Elon Musk, Dogecoin is basically a worthless coin and it was a joke, now it has turned into people’s talk thanks to Elon Musk’s arrogance, maybe Elon Musk will abandon it one day but this does not matter to many people, They see a good opportunity to make some temporary profits even though everyone knows Dogecoin is worthless. If Elon Musk abandons Dogecoin one day, the lucky ones will survive the disaster and the unlucky ones will take heavy losses.

[nutildah]

Sometimes its healthy to have a good cry. Go ahead and let it all out. Its OK, we're not judging you.

[Polkeins]

...when on Tesla report bitcoin rose at first to 20 and then to 60 thousand and after some time Tesla quietly sold Bitcoin for 40-60 thousands, when everybody was buying.

No, Tesla has received losses from investing in bitcoin, some of which have already been recorded. In February 2021, Tesla bought BTC - https://www.sec.gov/ix?doc=/Archives/edgar/data/1318605/000156459021004599/tsla-10k_20201231.htm in the amount of $ 1.5 billion, with an average cost of $31250. According to Tesla report for the 2nd quarter of 2022 - https://tesla-cdn.thron.com/static/EIUQEC_2022_Q2_Quarterly_Update_Deck_J8VLIK.pdf?xseo=&response-content-disposition=inline%3Bfilename%3D%22tsla-q2-22-update.pdf%22, 75% of BTC were sold for $936 million, i.e. it turns out that the average cost of selling one bitcoin was approximately $29 thousand.

It changes a lot, because press wrote that Musk was selling bitcoin "quietly" almost on ATH, while he himself seemed to be shilling cue ball and dogs at that moment and so it turns out that there was not only profit, but there were losses.
Now the deal with Tesla bitcoin is seen differently, initially I thought that it was all for the sake of hype and profit, so he probabbly really had plans for bitcoin after all. It will be interesting to find out later what went wrong.
Although apparently in reserve 25% of the initial purchase Tesla left on the balance sheet.

[tvplus006]

...Now the deal with Tesla bitcoin is seen differently, initially I thought that it was all for the sake of hype and profit, so he probabbly really had plans for bitcoin after all. It will be interesting to find out later what went wrong.
Although apparently in reserve 25% of the initial purchase Tesla left on the balance sheet.

Now Tesla had a good opportunity to buy bitcoin at a reduced price and thus reduce the average purchase price. And if such a purchase has really been made, then we will be able to find out about it only after the publication of the quarterly report, that is, at the beginning of 2023.

[hd49728]

Now Tesla had a good opportunity to buy bitcoin at a reduced price and thus reduce the average purchase price. And if such a purchase has really been made, then we will be able to find out about it only after the publication of the quarterly report, that is, at the beginning of 2023.

Tesla only buys Bitcoin if Elon Musk want to buy it. So far, after spending too much money to buy Twitter, Elon Musk might have to halt his intention or plan to accumulate more Bitcoin. In addition, the bear market has yet ended so Elon has anither reason to not consider buying more Bitcoin.

Maybe he will return to buy more Bitcoin in Q2 or Q3 2023 when the bear market will very likely end. Winter season will end sometime in 2023 and we will have another bull run in 2024.

[gunhell16]

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 ?

Doge will inevitably be compared to Shiba Inu dude, because if we look at the development of the two SHIB is doing better compared to Doge, although Elon Musk is promoting both when he thinks to encourage the crypto community to buy this, just like what he did in the past few days in the market regarding the price value of Dogecoin, it pumped up for a short time, we just don't know if it will continue.

But in my opinion, not again, for now, its resistance sure will be gentle again.