Dogecoin: past, present and future of the meme coin

[Criptoview]

After years out of the spotlight, DOGE exploded in 2021. In January it rose about 800% in 24 hours to near US$ 0.07; in April it reached US$ 0.10 for the first time and in May it passed US$ 0.50. According to CoinGecko, the all-time high was US$ 0.7316 on May 7, 2021. Entrepreneur Elon Musk, who often commented on the coin on social media, became the public face of the rally. On May 8, 2021, during his appearance on Saturday Night Live, the price fell as much as 29.5% within hours, an example of how expectations around one person can turn into volatility.



What is your opinion?



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[Charles-Tim]

I did not know about what happened to doge after Saturday Night Life than during the SNL, a scammer used a break time to tell people about sending money to a certain doge address that they will receive double. It was deep fake scam of fake Elon Musk. The address received over $5 million dollars of doge within few hours.

What makes the price of doge crashed was actually the fact that altcoins will crash, but doge despite that the crash was massive, I noticed it was not falling to the lowest price it fell to in the last bear market till now, but it was unable to get to all-time high the last bull market.

[asriloni]

On May 8, 2021, during his appearance on Saturday Night Live, the price fell as much as 29.5% within hours, an example of how expectations around one person can turn into volatility.
What is your opinion?

In fact, that rule is no longer applicable to the current market. People are getting smarter, and they won't fall to the same trap again. Anything tweeted by elon seems have no power to drive mass people to buy meme coins anymore.

It was a big trend in the past, but we move on. People are now valuing utility more than meme. The only degenerate who is still actively hunting for meme even if the meme itself is dogecoin.

As for the future of meme, it's always be the same to be speculation coin for PnD purpose.

[Kavelj22]

As always, nobody can introduce a Dogecoin topic to public discussions without mentioning Mr Elon. The one who profited the most from it. But also the one who massively manipulate the market in favor of his personal benefit. It is the most remarkable period in the full Dogecoin history as we are currently talking about the "before Musk tweets" and "after the ATH period".

It is a project that was made out of fun then became the wave trend for almost the majority of the crypto community. Nobody was expecting a memecoin to be that successful to be accepted as a mean of payment in many apps. Elon used that success of a project without owner to make some profit out of it.

[Dr.Bitcoin_Strange]

I think Dogecoin made some people rich as at that time, especially those that had millions of it for free and held until that 2021 pump. I had just small amount of it through some mobile app mining program that I did but I withdraw coin to and exchange that later crash before that pump but when I check the amount during that pump, it was really big. You can imagine people that also earned millions of it for free, they made huge profit then. About the future of dogecoin, I think the possibility that it is going to pump that much again is very slim because I just feel that people are not paying attention to it again and the trend of altcoins right now is not as before again. Even if it's going to pump again and surpass the previous ATH, it will take time. I can not buy dogecoin again because I feel the fire has die.

[Justbillywitt]

About the future of dogecoin, I think the possibility that it is going to pump that much again is very slim because I just feel that people are not paying attention to it again and the trend of altcoins right now is not as before again. Even if it's going to pump again and surpass the previous ATH, it will take time. I can not buy dogecoin again because I feel the fire has die.

But do you realize that those people that hold the power can revive the fire in doge coin? How many people knew doge coin without Elon Musk? All it take is just one tweet from him again, this time around it won’t just be an empty tweet. A tweet that doge coin will now be used as means of payment or it can be used for a particular purpose in his companies. That news alone will turn the attention to doge coin again. One harsh lesson I have learnt in this life is, don’t rule anything out. Just position yourself well so that when opportunities comes out from anywhere, you won’t miss out.

[coin-investor]

In fact, that rule is no longer applicable to the current market. People are getting smarter, and they won't fall to the same trap again. Anything tweeted by elon seems have no power to drive mass people to buy meme coins anymore.

It was a big trend in the past, but we move on. People are now valuing utility more than meme. The only degenerate who is still actively hunting for meme even if the meme itself is dogecoin.

People are hopelessly waiting and looking for a repeat of what happened to Dogecoin; it may not be Doge but other coins with potential to be shilled by Elon, but Elon's past action after Doge killed all expectations.
I was one of those who waited for another next big thing that Elon will shill, but I don't think it's going to happen again, we have to stop hoping, Elon blew us all.

[Criptoview]

As I always say: a good investor capitalizes on the moment. It’s not worth falling in love with any cryptocurrency, whatever it may be.


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[henmark]

About the future of dogecoin, I think the possibility that it is going to pump that much again is very slim because I just feel that people are not paying attention to it again and the trend of altcoins right now is not as before again. Even if it's going to pump again and surpass the previous ATH, it will take time. I can not buy dogecoin again because I feel the fire has die.

But do you realize that those people that hold the power can revive the fire in doge coin? How many people knew doge coin without Elon Musk? All it take is just one tweet from him again, this time around it won’t just be an empty tweet. A tweet that doge coin will now be used as means of payment or it can be used for a particular purpose in his companies. That news alone will turn the attention to doge coin again. One harsh lesson I have learnt in this life is, don’t rule anything out. Just position yourself well so that when opportunities comes out from anywhere, you won’t miss out.

Although he mentioned the word die in his last sentence, his overall post still shows that he did not totally gave up in Dogecoin. Some cryptos are only weather-weather. Like the word weather, sometimes they are gloomy but there are also times that they are shining again.

Dogecoin is already known even before Musk came. It is just that many don't take it seriously as an investment due to its massive supply and the fact that it is only just a meme coin. I won't deny the boost Musk gave to the coin. If I'm not mistaken, Dogecoin was declared before as one of those payment method that Tesla will be supporting. Not only sure if it is still effective.

[jossiel]

As I always say: a good investor capitalizes on the moment. It’s not worth falling in love with any cryptocurrency, whatever it may be.

It is rallying now and anytime it is going to push to $0.1. I'm not saying this for the others to buy and wait for it to come there.

But it seems that many alts are rallying this time when bitcoin is leading the recent pump that we're seeing in the market.

Dogecoin is a special meme coin, it's the father of them all and I think that most of these memes will die and yet Doge remains alive.

[Jostle]

All altcoins will crash when bitcoin crash. They are driven primarily by that dynamics. However, when bitcoin recovers, altcoins may not recover to its previous ATH. This is an observed behavior. DOGE will remain as such as well.

[Kavelj22]

I think Dogecoin made some people rich as at that time, especially those that had millions of it for free and held until that 2021 pump. I had just small amount of it through some mobile app mining program that I did but I withdraw coin to and exchange that later crash before that pump but when I check the amount during that pump, it was really big. You can imagine people that also earned millions of it for free, they made huge profit then. About the future of dogecoin, I think the possibility that it is going to pump that much again is very slim because I just feel that people are not paying attention to it again and the trend of altcoins right now is not as before again. Even if it's going to pump again and surpass the previous ATH, it will take time. I can not buy dogecoin again because I feel the fire has die.

For anybody with good knowledge would never invest in Doge. Doge is a cryptocurrency supported by those beginners who have no clue about what it is Dogecoin or what it might be because of its nature as a memeproject, and those who manipulate it.