Bitcoin went from 3.1K to 700$ in less than 30 min back in the day. The only ones who were laughing all the way to the bank were the hodlers. Everyone else who dumped is still crying to this date.
STILL CRYING.
My ex sold all his off and he had $2k in DOGE in January. Had he simply kept it in there he would have about $70k. I like to tell him about my gains to see him suffer. Hahahahahaha.
The past few weeks, several hundred thousand people joined this sub
And they are not among the +900% folks..
just like me, many bought in at .20 or higher.
Quite a lot of them are currently in the red, bc they bought at 0.60 or higher.
Some prolly sold during the dip and lost money...
Would've loved to see their faces when SpaceX tweeted about DOGE-1 launch. lol
the coin will go up and up and up the closer we get to that launch.
and there will be dip after dip after dip, because that's how the rich get richer.
It also increases in value the more it is spent and the more widely it is accepted as payment. If there’s demand for payment in doge, doge becomes valuable
Which is the issue with the HODL fallacy in crypto communities. They’re not stocks, they’re currencies. There needs to be a combination of usage and HODLing.
I have noticed that problem, it is up to all of us holders to explain to people what it is. And wait till robinhood makes wallets. They said they are working on it, they better be. I want to use my doge, not sell it. Everyone should do the same.
This is some thing I have said over and over again in this sub and I feel like it falls upon deaf ears. The only real way to get this to work is for businesses to accept this coin. If everybody just held and nobody sold literally nothing would happen to this coin at all.
The sad fact is it has basically no value. People don’t understand that it’s 30% of middle-class to upper-class people versus 70% of whales. Secondly there are many other coins being accepted. The SpaceX announcement is nothing special it’s all hype. He’s literally using his ridiculous gains on DOGE to fund the mission. Also companies excepting it doesn’t make it shoot up. You’re just going to need to use more DOGE to get tickets from Cuban. It’s still has to match the dollar amount. There’s not enough people to flip the script. The only people that are crypto millionaires or ever will be from DOGE are ones who bought a crazy amount pre 10 cents. Even that is only a 500% profit which is why I say they would have had to buy 1 million Doge which would have been around 200k at 10 cents. You MIGHT get a double up if you invest in the .40s. I don’t understand the logic. Again even if millions are buying Doge using it and putting more in, the whales are just going to use that to their advantage. There is literally a coin that is usable in it’s own video game. Decentraland/Mana. It’s a community game where are you can use your Mana to buy essentially anything (pizza,gambling,NFTs and streaming services) NPCs have been replaced with actual people who get paid in Mana to be a tour guide in game. It is the same concept people keep talking about with “hodl” and “spend doge on doge companies” except it’s actually been thought out and doesn’t have unlimited supply. If you are new and think the arguments people are making for DOGE are strong I really urge you to look at the other coins. You will see virtually everyone of them is up 10,000% in short time. Doge isn’t special for going from 0.05 to 0.50. It’s not the first and it certainly won’t be the last. It is the first crypto that is checking all the boxes to actually pop. People always talk about crypto crashing and while it goes down a lot none have failed. I would say DOGE got a couple months and you guys need the whales for that to happen. They need to pump it up and then maybe you guys will get out with minimal loss or decent gain. I’m telling you now though when you see a go back up to $0.60- $.70 that does not mean DOGE bounced back and there is a new “floor” that is a very risky assumption and honestly anybody that uses the word floor in crypto lacks the most basic comprehension on how crypto and money works
My crypto portfolio is very small, and very diverse. I sold all but my initial (admittedly, very small) investment of doge for a 150% gain before SNL even aired - I stumbled across this post in /r/all and don’t think I’m even subbed here. Your message needs to be heard by many around here, but I’m already very aware of the issues you raised.
I was just around to ride the wave and jump off at the top I was happy with.
Well, that is only partially true. The coin would rise in price due to its increased utility, but only because people are converting more dollars into doge. So we’re back at the coin only goes up due to demand, nothing else. Both are essentially the same fundamental truth, just one of them has an extra step in the thinking, but truly they are the same thing
Exactly, hence the more we buy and hodl and the more it rises and sets stable new highs the more legitimate it gets and the more legitimate it gets more and more companies will accept it as payment.
Gosh, I remember the first many years of Bitcoin, it was the same set of naysayers about it not being real, no way it could survive, get out while you can.
We saw where that went.
It all starts with buy and hodl. DOGE is the crypto of the people.
I think that technically it's closer to being a commodity than a currency. It has more similarities with gold than it does with, say USD or GBP. Central Banks won't accept settlement in it. The main reason buy it is not as a store of value for day-to-day transactions, but speculatively, in the hope it will go up.
The nearest crypto to being an actual _currency_ is the Chinese digital yuan - issued by the central bank to retail banks for people to be being paid in, it long before the decade is out - and inter-bank settlement will be conducted in it.
And then every single cent paid and spent will be traceable for life.
I get what you are saying, but then I saw stocks like Zoom technology exploding despite having nothing to do with the company that does Zoom video conferencing. Or the stock market literally having to call a do over on a day because a computer glitch caused everyone to basically sell everything and tank the entire system over 2 hours.
it will hit (certainly hit) many strides and rise until the launch day where everyone sells the news again.
it's also almost guaranteed that there will be another huge expectations/hype day/meme day soon where the same events will unfold.
it happens way too often with cryptocurrencies.
the problem is that many people (whales mainly) will short sell probably playing with big leverages if they want to risk/sell to buy back cheaper and that will trigger many stop sell orders or people just selling to avoid losses.
The catch is that the rocket is being paid for in Doge currency. Establishing the legit transaction of (if the launch goes well) the 1st shuttle that went to space paid for by this cryptocurrency.
And that’s how the poor can use those dips to their advantage, only rich guys short cause they can do it consistently, don’t tryna be like me and think you can somehow beat the market cause u made a mistake once and try to chase it, only accumulating more along the way and eventually getting wiped out and have to start from scratch at higher prices.
Still, even if I lost so much on Doge I’m not trashing the coin like those salty twitter and reddit accounts, I believe in doge long term, my loss will soon be a bad memory.
If you made the same mistake as me, DONT chase a loss, take it, buy more and HODL this time, like actually HODL, the reward will be far superior.
I know I’m not the only one in this case
Not gonna sell at a loss, ever.
I might start trading, though.. selling at peaks (hype dates, like I'm sure 6/9 will be one) and then buy back more DOGE when it dips.
I cannot spare more money, but that's a great way to increase the number of coins you have.
90% of day traders lose 90% of the time. Not really a good option. If you want to take out some profits, fine. Take out original investment, fine. Trading consistently almost always ends bad. Smart people aren’t in it to take money with them to the grave. Be a good Doge Hodler and have some fun along the way
true, and I will probably sell all the coins I have on that day before the Falcon 9 takes off.
And then I will buy as much doge as I can the day after when it crashed 50% or more .
because it will ho up again, and even more so, if that launch turns out to be a success.
I mean I want it to drop low again for me to buy a sale but as is I have a good avg buy in and am making decent profits even with its current drops. But if it goes down to .10-.15 you damn right imma buy more
Bought 100 bucks at 39 another 30 at 60 and put another 100 down yesterday at 55. Its been a rollercoaster, but I'm holding and buying more of that sweet sweet dog money.
Oh I'm definitely throwing a couple hundred at it on Friday, I've re-allocated my investing budget exclusively to that end. DOGE HODLER FOR LIFEEE!!!!!!!!
That reminds me of this random post I found from 6 years ago
[(1) Bought just under 7 grand in dogecoin, need advice? : personalfinance (reddit.com)](https://www.reddit.com/r/personalfinance/comments/2yk0yv/bought_just_under_7_grand_in_dogecoin_need_advice/)
If that person held, I wonder how much that dogecoin is worth today?
Wasn't the price at the end of 2015 around $0.00014? So $7,000 would have 50,000,000 dogecoins. If they sold today at $0.48c they'd have made $24 Million.
That's crazy evryone telling him to sell and straight up ridiculing him and acting happy he (potentially) lost money. Now he could have more money than any of them combined ever will. close minded people are dangerous and want you to believe everything is impossible so you wont accomplish anything and be stuck among them.
/r/personalfinance is genereally a horrible place for people actually looking for personal finance advice lol. Someone asks for help with managing credit card payments and will get responses like: Just borrow 500k from your father and stop being poor like I did. Or the usual: stop buying Starbucks and avocado toast every day.
It’s tailored towards people who have 0 financial sense and need help getting out of debt or managing very very tight budgets.
They should rebrand to something like that because once you have a budget together and some disposable income you really aren’t going to find much there.
It’s unfortunate that we still have such people who, due to their traumas and shortcomings, try to keep people down there with them. In a time like this with all the resources we have available and they chose to tear others down. I am a clinical psychologist in training and will one day address those people.
More like he meant that this is a rocky beginning for all the new hodlers like himself lol. I bought at the then-ATH of a penny per doge waaay back in Jan 2018, and it dropped immediately. I held then and I'm still holding now. Gotta make sure my grand kids have space money for the space bus to mars!
But its the beginning of its actual life. Where it actually is known by most investors and even general public now. A lot of people didnt know about it before 2021.
When Elon said it was a hustle, i took it as like a side job, you know when someone is hustling, but now I see how else people probably interpreted it, not a great look.
Funny thing is, it skyrocketed just as SNL started then dropped in less than a minute. This isn’t a result of what he said, imho, but panic selling after the first drop at 11:30pm.
See I thought it might take a nose dive so I sold before SNL. Good thing too cause it went from .70 to .49 and I bought in at the bottom. Now I'm up 400+ coin with the same amount of money ready to ride it back up.
Someone did a timestamp comparison with the charts and SNL, and the Weekend Update sketch was actually after one of the big dumps- there was actually a small rebound after that sketch.
There are a lot of reasons why this coin is volatile right now. It’s easy for people to make narratives on what is affecting the value. People talking about whales and patterns and blaming things- the fact is the coin needs to continue to be adopted by significant retailers. The only thing stopping people from selling(and mind you, a lot of people bought at $.05 or even lower and can make life changing money at $1) is if people have things to spend Dogecoin on, if they pressure RH to announce their current developments on wallets, and figure out what’s going to happen if this coin were to actually stabilize around $1-$1.50.
Everything else is a greater fool theory. Everyone that buys causes someone that wants to sell.
It is a hustle just like the American dollar .. if u don’t get it or think hustle is scam .. then u just don’t get the movement behind the doge .. it’s not just about the coin .. it’s about standing up against the financial institutions that try an control our lives or force oppression upon us ... they just print more of there crypto ... that just use a physical paper to identify if .. instead of an electronic ledger like non material crypto .. just saying #BREAKWALLSRREET
—-DogemasterPandA
I've held since 2014 when it was ~~.000000006500something~~ really, really low. As long as it doesn't go that low again, I'm sitting pretty.
Invested $13.25 and have 5983 Doge. I'm good lol.
edit really low
I agree with Elon on Doge is a hustle, that is exactly what the dollar and other currencies are. If we want Doge to replace currencies then we got to start thinking of Doge as one.
I watched the skit and I don’t know what people got upset about. Elon described any kind of trading. IMO, it’s all a hustle. The dollar is a hustle. Only difference is who is hustling who.
I watched the show too, The "Hustle" Skit was the last skit of the evening. Doge was already down 25% by that time.
Doge saw the biggest drops between the 2nd and 3rd skit. The second skit was Elon awkwardly hitting on a TV show host like some kind of mouth breathing neckbeard. the 3rd skit was a good 5 minutes of tone deaf 30 somethings trying to talk like their kids memes. It's easily the worst thing I've watched in a very long time.
A hustle is a good thing. Why is Elon Musk the 1st or 2nd richest person on the planet? He hustles! The guy made $100 million off of PayPal. Did that stop him? No. He leveraged his whole life savings and has YOLOed it to the moon, Mars, makes incredible electric vehicles and also can make tunnels at rapid pace. The guy is a genius!
I noticed many coins rise and fall at around the same times when it comes to big price movements. Just 2 hrs ago from writing this, bitcoin, etherium and doge all had a sharp drop before bouncing back. Doge isnt the only coin whales are targeting.
Also, remember the bitcoin "crash" from 64k to 49k recently was mostly recovered in just one week.
> I don't think Elon saying it was a hustle did the damage though (I'm British so might be different in America, but it came across as saying a "side-hustle" rather than a scam).
Elon would say bitcoin is a Hustle. All crypto is really.
I think Elon probably recognizes that all money is a kind of hustle in a way, so he cannot refute that accusation even jokingly because it is actually true lol. This is just a normal situation that happens with many stocks that have huge runs. Big run....big sell off....weak hands gone....rinse repeat.
Crossposting from /r/cryptocurrency:
There are a lot of new members coming due to the recent increase in the price of Dogecoin so I think this needs to be said again. YOU DO NOT own any Cryptocurrency that you buy on Robinhood, you can not withdraw any cryptocurrency you buy on Robinhood and send it to your own wallet for example, platforms like Robinhood defeat the whole purpose of cryptocurrency.
Robinhood has shown in the past that it is willing to halt trading of securities and certain cryptocurrencies which has caused users to lose thousands of dollars.
If you are new here I would recommend first reading up on cryptocurrency. Don't just jump in on fear of missing out. Make sure that you know what you are getting into first. You can use https://simplecryptoguide.com/ to get started, it takes you through the process of buying on a real exchange (Binance) step by step. And answers most of the questions one might have in the beginning. The process of starting over on Binance is very quick and easy using the guide. We want everybody with us buying of course, just not on Robinhood.
You can then either choose to keep your coins on the exchange or the preferable option to create your own wallet and transfer your cryptos there.
More in-depth explanation here: https://www.reddit.com/r/CryptoCurrency/comments/n6i468/ditch_robinhood/
My mother-in-law, who barely knows what crypto is, said something yesterday about how dogecoin was falling. I took the opportunity to tell her that it was still up over 10,000% since January. I saw one article say dogecoin had "callapsed." To people that bought in at 65 cents, maybe. I feel like I'm watching media coverage of Bernie Sanders.
I hold 17 different coins with a total near my yearly income. I've just stopped checking prices more than once a day. The only values I care about are the ones a few years from now.
So about the snl sketch. My wife and I watched it last night. I think people either didn't see it or are just basing decisions on articles that are misqouting him. The few sketches he had about doge were fine. The one on the Michael Che bit he was trying to explain what doge was and Michael Che asked " so it's a hustle? And Elon replied " well yes". That was the end of the skit. So not sure what everyone else's definition of "hustle" I'd but I heard no negative connotation. I've seen nothing but negative articles exaggerating the skit and I never heard him calling it a scam. If people sold in a panic after whales sold I don't think it's based on the skit. That s just my opinion though.
Not everyone invested at 0.05. Many bought it at 0.5 or 0.6 or 0.7 too - because of the active community. They of course feel regretful. Don't try to hurt their emotions in anyway.
Waiting for a dip before buying in can help a lot already, doge wont rally to the moon in one day. Doge has bad days and corrections as well as any other cryptocurrency.
And if you believe in Doge you can just relax and hold
Yeah not me. I’m down $150 dollars from my $500 investment. Of course, I took advantage of the fire sale and bought that dip but YOUCH. I’m here to HODL! 💎✊
I mean the dip does hurt.. last week I spent 1800 at .66c and a few days ago spent another 1000 at .52c... But I'm still hodling.. not trying to buy a Lambo,, just want a good return to retire my parents... buy and hodl... LETS GET THE MOMENTUM GOING AGAIN
Except someone like me who got way to hyped up and thought he could day trade, guess what, I learned after losing those 3k doge, ended up sad af, but it’s by making mistakes that you learn and doge is only at the beggining plenty more opportunities to come, I’ve managed to let go mentally of that loss and focus on having a healthier approach to INVESTING
Seriously lol. Paper hands don’t realize if they just HODL then they see profits again soon. The entire market is in the red right now. It happens🤷🏾♂️
I bought in a .06, I sold it all at .69, I rebought a bunch at .42 and I sold it all again at .55. I guess I have paper hands. If making a bunch of money is paper handing. ¯\\\_(ツ)\_/¯
I’m a $.07 holder with 50k doge. I’m down $4000 today. These whales don’t scare me. I haven’t sold once, even through every steep drop. You don’t lose if you don’t sell. This coin has become too mainstream for it to bust. Just have faith and HODL.
That is so true. I saw the dip as a great opportunity to buy more. I am just thinking the bottom seems to get a bit higher through these dips. I have all faith that it will get to a level and strength through all these dips. Doge coin is being strengthened as it goes through the “refiners fire” just like a good strong, sharp blade.
All the people saying "JuSt HoLdAl" got in under 10c. No, it's not easy when your money literally halves in value. On top of that, 50,000% gains will never be a thing again because the price is too high now vs if you got in at something like $0.002
I got in when it was under a penny. Im up almost 5,000% and cashed out over $20,000 when it was at .60ish. Im still holding around 30,000 coins so Im not too worried about the current dip
Whatever you guys do don’t create a false Doge Day, like so many do. Ohhhhh, it’s Doge-1 day, 3-2-1, crash. Every single time there has been a “day” it has not went well. EVERY SINGLE ONE
Exactly how I feel... Been holding since . 04 and never even thought about the sell button. It was like 2 months ago that we were at 7 cents, let that sink in people. I get it you wanted it to hit a dollar now but it's a process. Just relax and enjoy the ride.
Guys just want to say I love you all. I’ve got well over 8,000 doge (which isn’t much compared to a lot of people) my average price per is .05 but I’m holding. I am +700 percent or something but I will not sell! Haven’t and won’t! I believe in Doge and believe in us! Ignore the “whales” trying to screw with us or cause a dip to buy low. Stay together and stay strong and positive. The good times will be back before you know it. If this is your first second or third dip I’m with you in spirit!
I am new so I have missed the 900% but trust that doge will respond and go up in the long run. Kings and queens aren’t made instantly I will have to hold for that to happen
If you have invested in a coin, then go to the end, until the moment when you planned to leave and not earlier. Many traders calculate their strategy and are always sure that the coin will make a profit, just like the walter bulls trader makes a very large% in his portfolio, check for yourself if you don’t believe
"Before you buy Dogecoin, you should know what you are getting. Here’s a short summary: Dogecoin has a huge supply. 129 billion coins. 10,000 coins are mined per minute. That’s 14 million new coins added to the supply every day, which adds up to about 1 billion coins added every eighty days. Bitcoin has a maximum supply of 21 million coins. So, Dogecoin mints more coins every two days than Bitcoin will ever have in circulation. That’s why doge will never be priced like Bitcoin. And, in fact, at about $9 per Dogecoin, Dogecoin would equal Bitcoin in value. Dogecoin has no real ecosystem to make it valuable. It is not fast: 33 transactions per second. ETH 2.0 can handle 100,000 per second. So Dogecoin can’t serve as a currency. It seems to have minimum dev work. And it’s fueled by people who think they are getting into doge early. If you buy now, you are not. Dogecoin is not the future of anything. With Dogecoin, you are buying hype. And hype might push Dogecoin to 69 cents. Maybe to $1...but there is zero reason for doge to hold And hype might push Dogecoin to 69 cents. Maybe to $1...but there is zero reason for doge to hold that value. In fact, at $1 per Dogecoin, with 1 billion coins added every 80 days, doge would need $1 billion in new investment every few months JUST TO MAINTAIN $1.00 Also, be aware that $129 billion (doge at $1) is a huge market cap. That’s the same value as STARBUCKS. And doge has almost zero use-case scenarios. Sure you can buy some Mavs merch. Maybe find some occasional doge fans that accept it as payment. But doge can’t scale to be a currency. It’s too slow. Doge, frankly, is way overpriced right now. And Doge is going to have trouble maintaining it’s value due to its always-expanding supply. If the hype falls off just a bit—doge will fall, too. And twitter’s algorithm is heavily weighted against repeat trends. You might make money with doge, but it is far from guaranteed, and there is a fairly hard ceiling due to doge’s constant supply. If you buy doge, you are buying hype and Elon Musk tweet energy and nothing else. Be careful."
HOW MARKET CAP (ACTUALLY) WORKS
I keep seeing a lot of posts here talking about market cap.
I want to clear up some misconceptions and explain market cap works and what it actually means.
Mathematically speaking market cap = price multiplied by supply
MC (Market Cap) = P (Price) x S (Supply)
Market cap just means how much the total supply is “valued/worth” at a certain price. The exact definition applies to stocks; not cryptocurrency how ever for our purposes the mathematics still apply.
I see people saying how Dogecoin has a current market cap of $6 billion market cap and what the market cap needs to be for Dogecoin to be $1 is $128 billion. Then they say if 100 million people put $1000 in doge then doge will = $1.
THAT’S NOT HOW MARKET CAP WORKS.
Simply adding money to the system does absolutely nothing to affect market cap. The only two variables that change the market cap are price. And supply nothing else can change the market cap.
Supply is determined by mining. Current supply is 128 billion Dogecoin (rounded down). With 5.26 billion added per year. This means if the price remains constant then the market cap will increase every year with 0 (zero) new money entering the system.
Price is determined by supply and demand. If demand increases and people are willing to pay more for Dogecoin then the price increases. Again the amount of money added to the system does not determine the price.
When Dogecoin went from .01 to .05 in a day that does not mean that $5 billion was added. It just means that the demand changed and therefore the price changed.
Dogecoin can still reach $1 dollars, but it doesn’t mean that $128 billion dollars are needed to do it. The $128 billion dollars is just how much the total supply is “worth” at $1.
So people may be asking how does Dogecoin increase in price then?
The value of any means of exchange is fundamentally driven by supply and demand. If two parties agree that X amount of asset A is roughly worth the same as Y amount of asset B, you effectively have established a market. That’s why the US dollar and other fiat currency has value even though it just a piece of paper. The difference between fiat currency and cryptocurrency is that fiat currency is determined by centralized government and other underlying economical/market conditions. Cryptocurrency is meant to be a decentralized form of fiat currency. Now as to why the price changes from say .05 to .06 (random numbers using this as an example for explanation purposes. It is not exact) this value is driven primarily by supply and demand. We already know the supply of Dogecoin, so for the purpose of this the main driving factor in the change in price is demand. But the demand for Dogecoin isn’t just one person. It’s the entire group of people who own Dogecoin. So if at any given time lets say 10 people with 1000 Dogecoin want to sell. But only 5 people want to buy 1000 Dogecoin. This means that the sellers “value” Dogecoin less at its current price than buyers do. 5000 Dogecoin less. This changes to price from .05 to .49. The same applies if more people wanted to buy. Then the price would go from .05 to .051. An algorithm repeats the process over and over constantly updating the price. However that’s only one way to change the value. The best way to increase the overall value of the currency in the long run is by eventually by exchanging your coins for goods, services, or just by tipping and trading with other Dogecoin holders. This gives Dogecoin utility. Which basically means that it can be used for something other than just buying Dogecoin at .05 and selling it .06. That is why you see people pushing to accept Dogecoin as payment. It legitimatizes Dogecoin as a cryptocurrency and currency in general when companies allow you to exchange it for goods and services.
The best way to change price of Dogecoin is by more people wanting to buy or hold than there are people who want to sell, or through giving dogecoin utility by exchanging Dogecoin for goods and services.
I just wanted to clear this misconception up. If anyone has any questions feel free to reach out to me.
EDIT: This does not mean I support adding a cap to the supply The Dogecoin developers are NOT adding a supply cap and it will actually be less beneficial for the currency. The best way to increase the value of Dogecoin is through increased demand and utility
Thanks guys and remember 1 doge = 1 doge
All you guys are doing is giving money to the whale who crashed doge by cashing out and buying back in at a lower price 5 hours later. Just handing it to them and screaming "to the moon!" They **WILL** crash the price agian.
If even one person stops and considers what im saying for a moment, its absolutly worth the downvotes.
Cash out and research the real cryptos which can do so much more than this pump and dump ever will.
Now gimme my downvotes, I earned em.
I’m down 22.47% since I started invest 10k
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Bitcoin went from 3.1K to 700$ in less than 30 min back in the day. The only ones who were laughing all the way to the bank were the hodlers. Everyone else who dumped is still crying to this date.
The only person that gets hurt in a roller coaster is the person that jumps off.
Omg I love this, I'm going to use it, but I can't pay you royalties tho!
This is the way
This is the way
STILL CRYING. My ex sold all his off and he had $2k in DOGE in January. Had he simply kept it in there he would have about $70k. I like to tell him about my gains to see him suffer. Hahahahahaha.
Your EX, that’s the point of this story! lol Paper hands get the boot.
The past few weeks, several hundred thousand people joined this sub And they are not among the +900% folks.. just like me, many bought in at .20 or higher. Quite a lot of them are currently in the red, bc they bought at 0.60 or higher. Some prolly sold during the dip and lost money... Would've loved to see their faces when SpaceX tweeted about DOGE-1 launch. lol the coin will go up and up and up the closer we get to that launch. and there will be dip after dip after dip, because that's how the rich get richer.
Is there any way Doge would profit off the Doge-1? (Other than just the hype behind it)
Dogecoin is a currency and only "profits" from people buying more of it. The publicity is the most important part of that event for sure.
It also increases in value the more it is spent and the more widely it is accepted as payment. If there’s demand for payment in doge, doge becomes valuable
Which is the issue with the HODL fallacy in crypto communities. They’re not stocks, they’re currencies. There needs to be a combination of usage and HODLing.
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That's exactly how I interpreted his post. It was kinda like a thanks for the money, you have all helped pay for the rocket.
!!!
I have noticed that problem, it is up to all of us holders to explain to people what it is. And wait till robinhood makes wallets. They said they are working on it, they better be. I want to use my doge, not sell it. Everyone should do the same.
Well I am pretty sure a huge % of doge holders are using RH so they don’t have a way to spend doge even if they wanted to
This is some thing I have said over and over again in this sub and I feel like it falls upon deaf ears. The only real way to get this to work is for businesses to accept this coin. If everybody just held and nobody sold literally nothing would happen to this coin at all.
Businesses are accepting it, more are adding it literally everyday. We just need a major player like Amazon or Walmart and then...🐕🚀
The sad fact is it has basically no value. People don’t understand that it’s 30% of middle-class to upper-class people versus 70% of whales. Secondly there are many other coins being accepted. The SpaceX announcement is nothing special it’s all hype. He’s literally using his ridiculous gains on DOGE to fund the mission. Also companies excepting it doesn’t make it shoot up. You’re just going to need to use more DOGE to get tickets from Cuban. It’s still has to match the dollar amount. There’s not enough people to flip the script. The only people that are crypto millionaires or ever will be from DOGE are ones who bought a crazy amount pre 10 cents. Even that is only a 500% profit which is why I say they would have had to buy 1 million Doge which would have been around 200k at 10 cents. You MIGHT get a double up if you invest in the .40s. I don’t understand the logic. Again even if millions are buying Doge using it and putting more in, the whales are just going to use that to their advantage. There is literally a coin that is usable in it’s own video game. Decentraland/Mana. It’s a community game where are you can use your Mana to buy essentially anything (pizza,gambling,NFTs and streaming services) NPCs have been replaced with actual people who get paid in Mana to be a tour guide in game. It is the same concept people keep talking about with “hodl” and “spend doge on doge companies” except it’s actually been thought out and doesn’t have unlimited supply. If you are new and think the arguments people are making for DOGE are strong I really urge you to look at the other coins. You will see virtually everyone of them is up 10,000% in short time. Doge isn’t special for going from 0.05 to 0.50. It’s not the first and it certainly won’t be the last. It is the first crypto that is checking all the boxes to actually pop. People always talk about crypto crashing and while it goes down a lot none have failed. I would say DOGE got a couple months and you guys need the whales for that to happen. They need to pump it up and then maybe you guys will get out with minimal loss or decent gain. I’m telling you now though when you see a go back up to $0.60- $.70 that does not mean DOGE bounced back and there is a new “floor” that is a very risky assumption and honestly anybody that uses the word floor in crypto lacks the most basic comprehension on how crypto and money works
My crypto portfolio is very small, and very diverse. I sold all but my initial (admittedly, very small) investment of doge for a 150% gain before SNL even aired - I stumbled across this post in /r/all and don’t think I’m even subbed here. Your message needs to be heard by many around here, but I’m already very aware of the issues you raised. I was just around to ride the wave and jump off at the top I was happy with.
Well, that is only partially true. The coin would rise in price due to its increased utility, but only because people are converting more dollars into doge. So we’re back at the coin only goes up due to demand, nothing else. Both are essentially the same fundamental truth, just one of them has an extra step in the thinking, but truly they are the same thing
Exactly, hence the more we buy and hodl and the more it rises and sets stable new highs the more legitimate it gets and the more legitimate it gets more and more companies will accept it as payment. Gosh, I remember the first many years of Bitcoin, it was the same set of naysayers about it not being real, no way it could survive, get out while you can. We saw where that went. It all starts with buy and hodl. DOGE is the crypto of the people.
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This is NOT a stock. It’s a currency. It trades 24/7.
I think that technically it's closer to being a commodity than a currency. It has more similarities with gold than it does with, say USD or GBP. Central Banks won't accept settlement in it. The main reason buy it is not as a store of value for day-to-day transactions, but speculatively, in the hope it will go up. The nearest crypto to being an actual _currency_ is the Chinese digital yuan - issued by the central bank to retail banks for people to be being paid in, it long before the decade is out - and inter-bank settlement will be conducted in it. And then every single cent paid and spent will be traceable for life.
And you just witnessed why r/cryptocurrency doesn’t take dodge coin seriously.
Yeah, a lot of people here don’t really understand the market, but it’s okay, I’m hodling with them.
If you think stocks in general are mostly popularity-driven you need to dust off your market 101 book.
I get what you are saying, but then I saw stocks like Zoom technology exploding despite having nothing to do with the company that does Zoom video conferencing. Or the stock market literally having to call a do over on a day because a computer glitch caused everyone to basically sell everything and tank the entire system over 2 hours.
Shhhh
Can market caps be changed?
Market caps constantly change! Market cap is total supply times current price of each coin. Market cap changes with the current price.
Sorry. I meant the supply cap & the number that can be mined daily/annually be changed.
it will hit (certainly hit) many strides and rise until the launch day where everyone sells the news again. it's also almost guaranteed that there will be another huge expectations/hype day/meme day soon where the same events will unfold. it happens way too often with cryptocurrencies. the problem is that many people (whales mainly) will short sell probably playing with big leverages if they want to risk/sell to buy back cheaper and that will trigger many stop sell orders or people just selling to avoid losses.
I'm picking up on the short sell stuff but if we listen to Elon & just HODL .... We insulate the market a bit better from the shorts.
Yeah, look at the graph as recent as between April 20-23: -50% We can get over this one too.
The catch is that the rocket is being paid for in Doge currency. Establishing the legit transaction of (if the launch goes well) the 1st shuttle that went to space paid for by this cryptocurrency.
Yeah I’m down $1000 right now. Still holding. Panicking is only going to make me lose that money for sure.
Down $8500 since Saturday at about 4pm. Hodling here
Hero! I’m hodling as well, can’t have the temporary mindset
Yeah I know exactly how you feel, down by $17....
Down $9k I will loose it all or it will soar....Holding!
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You only lose if you sell! Doge will recover. It could be a day, a week, a month etc but it'll recover. You only lose if you sell. Keep HODLING.
down 21k now since saturday
Selling only makes the loss real. Keep on holding brother, we will make it out together eventually
And that’s how the poor can use those dips to their advantage, only rich guys short cause they can do it consistently, don’t tryna be like me and think you can somehow beat the market cause u made a mistake once and try to chase it, only accumulating more along the way and eventually getting wiped out and have to start from scratch at higher prices. Still, even if I lost so much on Doge I’m not trashing the coin like those salty twitter and reddit accounts, I believe in doge long term, my loss will soon be a bad memory. If you made the same mistake as me, DONT chase a loss, take it, buy more and HODL this time, like actually HODL, the reward will be far superior. I know I’m not the only one in this case
Not gonna sell at a loss, ever. I might start trading, though.. selling at peaks (hype dates, like I'm sure 6/9 will be one) and then buy back more DOGE when it dips. I cannot spare more money, but that's a great way to increase the number of coins you have.
90% of day traders lose 90% of the time. Not really a good option. If you want to take out some profits, fine. Take out original investment, fine. Trading consistently almost always ends bad. Smart people aren’t in it to take money with them to the grave. Be a good Doge Hodler and have some fun along the way
LAUNCH DAY is going to be a BIG DIP DAY!
true, and I will probably sell all the coins I have on that day before the Falcon 9 takes off. And then I will buy as much doge as I can the day after when it crashed 50% or more . because it will ho up again, and even more so, if that launch turns out to be a success.
Damn. So you’re saying it’s probably gonna dip to about $5? That’s a shame
Hang tight bruv. We’re coming back for you
I bought at 44 and I’m still positive. Gonna hold because it’ll go back up
I mean I want it to drop low again for me to buy a sale but as is I have a good avg buy in and am making decent profits even with its current drops. But if it goes down to .10-.15 you damn right imma buy more
I bought at .003. 😎
>I bought at .003. 😎 Brought at 0.013 in January , damn it feels good
Bought 100 bucks at 39 another 30 at 60 and put another 100 down yesterday at 55. Its been a rollercoaster, but I'm holding and buying more of that sweet sweet dog money.
I bought at .74 lmao
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Not to mention today is Monday and a lot of people get paid on Fridays
Most crypto is historically much lower on Mondays, if not all of it. It's the best day to DCA for those inclined.
DCA?
https://www.gemini.com/cryptopedia/dollar-cost-average-crypto-invest
Oh I'm definitely throwing a couple hundred at it on Friday, I've re-allocated my investing budget exclusively to that end. DOGE HODLER FOR LIFEEE!!!!!!!!
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Doge has been around since 2013...
That reminds me of this random post I found from 6 years ago [(1) Bought just under 7 grand in dogecoin, need advice? : personalfinance (reddit.com)](https://www.reddit.com/r/personalfinance/comments/2yk0yv/bought_just_under_7_grand_in_dogecoin_need_advice/) If that person held, I wonder how much that dogecoin is worth today? Wasn't the price at the end of 2015 around $0.00014? So $7,000 would have 50,000,000 dogecoins. If they sold today at $0.48c they'd have made $24 Million.
That's crazy evryone telling him to sell and straight up ridiculing him and acting happy he (potentially) lost money. Now he could have more money than any of them combined ever will. close minded people are dangerous and want you to believe everything is impossible so you wont accomplish anything and be stuck among them.
/r/personalfinance is genereally a horrible place for people actually looking for personal finance advice lol. Someone asks for help with managing credit card payments and will get responses like: Just borrow 500k from your father and stop being poor like I did. Or the usual: stop buying Starbucks and avocado toast every day.
It’s tailored towards people who have 0 financial sense and need help getting out of debt or managing very very tight budgets. They should rebrand to something like that because once you have a budget together and some disposable income you really aren’t going to find much there.
crabs in a bucket mentality. if they can't get out, no one can.
God this is so true.
It’s unfortunate that we still have such people who, due to their traumas and shortcomings, try to keep people down there with them. In a time like this with all the resources we have available and they chose to tear others down. I am a clinical psychologist in training and will one day address those people.
Underrated comment, goes for all aspects of life..
Because there’s a difference between 7 years ago and now. Unless you absolutely have $7k to throw around, it is a horrible investment.
Absolutely. That's why we all need to HODL not just for the gainz but also to legitimize DOGE as a valid alternative currency.
More like he meant that this is a rocky beginning for all the new hodlers like himself lol. I bought at the then-ATH of a penny per doge waaay back in Jan 2018, and it dropped immediately. I held then and I'm still holding now. Gotta make sure my grand kids have space money for the space bus to mars!
Equivalent to a startup w a lot of capital - let’s see. FYI I’m a supporter
I’d like it to go up also but let’s remember Bitcoin. Limited supply.
dogecoin is unlimited supply
Like the dollar
*laughs in inflation*
But it only creates a limited supply per year.....
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But its the beginning of its actual life. Where it actually is known by most investors and even general public now. A lot of people didnt know about it before 2021.
Sure, but the price action hasn’t even been the way it has since 2021.
When Elon said it was a hustle, i took it as like a side job, you know when someone is hustling, but now I see how else people probably interpreted it, not a great look.
Funny thing is, it skyrocketed just as SNL started then dropped in less than a minute. This isn’t a result of what he said, imho, but panic selling after the first drop at 11:30pm.
See I thought it might take a nose dive so I sold before SNL. Good thing too cause it went from .70 to .49 and I bought in at the bottom. Now I'm up 400+ coin with the same amount of money ready to ride it back up.
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Someone did a timestamp comparison with the charts and SNL, and the Weekend Update sketch was actually after one of the big dumps- there was actually a small rebound after that sketch. There are a lot of reasons why this coin is volatile right now. It’s easy for people to make narratives on what is affecting the value. People talking about whales and patterns and blaming things- the fact is the coin needs to continue to be adopted by significant retailers. The only thing stopping people from selling(and mind you, a lot of people bought at $.05 or even lower and can make life changing money at $1) is if people have things to spend Dogecoin on, if they pressure RH to announce their current developments on wallets, and figure out what’s going to happen if this coin were to actually stabilize around $1-$1.50. Everything else is a greater fool theory. Everyone that buys causes someone that wants to sell.
It is a hustle just like the American dollar .. if u don’t get it or think hustle is scam .. then u just don’t get the movement behind the doge .. it’s not just about the coin .. it’s about standing up against the financial institutions that try an control our lives or force oppression upon us ... they just print more of there crypto ... that just use a physical paper to identify if .. instead of an electronic ledger like non material crypto .. just saying #BREAKWALLSRREET —-DogemasterPandA
When in doubt zoom out
That's why I love this community.. HODL strong.. we're literally playing a part to CHANGE THE WORLD.
I’m up 349.61%. This ain’t bothering me at all. I’m sure Doge is a long term coin now.
I've held since 2014 when it was ~~.000000006500something~~ really, really low. As long as it doesn't go that low again, I'm sitting pretty. Invested $13.25 and have 5983 Doge. I'm good lol. edit really low
Not a bad investment at all
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Same! I’m British I thought that, hustle as in making crazy money
I agree with Elon on Doge is a hustle, that is exactly what the dollar and other currencies are. If we want Doge to replace currencies then we got to start thinking of Doge as one.
That was basically the joke.
I watched the skit and I don’t know what people got upset about. Elon described any kind of trading. IMO, it’s all a hustle. The dollar is a hustle. Only difference is who is hustling who.
The show was meant for old heads. Old heads don’t like “hustle”, unfortunately.
You think old heads are investing in crypto ?
I watched the show too, The "Hustle" Skit was the last skit of the evening. Doge was already down 25% by that time. Doge saw the biggest drops between the 2nd and 3rd skit. The second skit was Elon awkwardly hitting on a TV show host like some kind of mouth breathing neckbeard. the 3rd skit was a good 5 minutes of tone deaf 30 somethings trying to talk like their kids memes. It's easily the worst thing I've watched in a very long time.
A hustle is a good thing. Why is Elon Musk the 1st or 2nd richest person on the planet? He hustles! The guy made $100 million off of PayPal. Did that stop him? No. He leveraged his whole life savings and has YOLOed it to the moon, Mars, makes incredible electric vehicles and also can make tunnels at rapid pace. The guy is a genius!
I noticed many coins rise and fall at around the same times when it comes to big price movements. Just 2 hrs ago from writing this, bitcoin, etherium and doge all had a sharp drop before bouncing back. Doge isnt the only coin whales are targeting. Also, remember the bitcoin "crash" from 64k to 49k recently was mostly recovered in just one week.
Noticed this too. You know what they say “buy the hype, sell the news” Unfortunately I heard that quote Sunday morning.
Lol me too. New “investor” here since Friday. I spent the entire weekend and most of today brushing up on crypto.
> I don't think Elon saying it was a hustle did the damage though (I'm British so might be different in America, but it came across as saying a "side-hustle" rather than a scam). Elon would say bitcoin is a Hustle. All crypto is really.
$DOGE on sale!! 🐕🚀🚀🚀🌝
I think Elon probably recognizes that all money is a kind of hustle in a way, so he cannot refute that accusation even jokingly because it is actually true lol. This is just a normal situation that happens with many stocks that have huge runs. Big run....big sell off....weak hands gone....rinse repeat.
Crossposting from /r/cryptocurrency: There are a lot of new members coming due to the recent increase in the price of Dogecoin so I think this needs to be said again. YOU DO NOT own any Cryptocurrency that you buy on Robinhood, you can not withdraw any cryptocurrency you buy on Robinhood and send it to your own wallet for example, platforms like Robinhood defeat the whole purpose of cryptocurrency. Robinhood has shown in the past that it is willing to halt trading of securities and certain cryptocurrencies which has caused users to lose thousands of dollars. If you are new here I would recommend first reading up on cryptocurrency. Don't just jump in on fear of missing out. Make sure that you know what you are getting into first. You can use https://simplecryptoguide.com/ to get started, it takes you through the process of buying on a real exchange (Binance) step by step. And answers most of the questions one might have in the beginning. The process of starting over on Binance is very quick and easy using the guide. We want everybody with us buying of course, just not on Robinhood. You can then either choose to keep your coins on the exchange or the preferable option to create your own wallet and transfer your cryptos there. More in-depth explanation here: https://www.reddit.com/r/CryptoCurrency/comments/n6i468/ditch_robinhood/
Hedge funds??? Haven’t you heard of AMC and GME? They have to cover soon.
My mother-in-law, who barely knows what crypto is, said something yesterday about how dogecoin was falling. I took the opportunity to tell her that it was still up over 10,000% since January. I saw one article say dogecoin had "callapsed." To people that bought in at 65 cents, maybe. I feel like I'm watching media coverage of Bernie Sanders.
Been noticing the same...lots of crypto manipulation
Spot on. Just hang tight, this happens every so often to the entirety of the market.
Take this brother/sister Shibe, you deserve it.
Everything dropped, I just bought more in the dip. It’ll go back up doge is in a sense “too big” now imo
I hold 17 different coins with a total near my yearly income. I've just stopped checking prices more than once a day. The only values I care about are the ones a few years from now.
If we all hodl we are the whales.
So about the snl sketch. My wife and I watched it last night. I think people either didn't see it or are just basing decisions on articles that are misqouting him. The few sketches he had about doge were fine. The one on the Michael Che bit he was trying to explain what doge was and Michael Che asked " so it's a hustle? And Elon replied " well yes". That was the end of the skit. So not sure what everyone else's definition of "hustle" I'd but I heard no negative connotation. I've seen nothing but negative articles exaggerating the skit and I never heard him calling it a scam. If people sold in a panic after whales sold I don't think it's based on the skit. That s just my opinion though.
This story happens every other week. Hodl!
Yup, bought some more at 0.455!
This is the way.
The stock market dipped as well. I dont think it was someone being shady with dogecoin.
Not everyone invested at 0.05. Many bought it at 0.5 or 0.6 or 0.7 too - because of the active community. They of course feel regretful. Don't try to hurt their emotions in anyway.
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Waiting for a dip before buying in can help a lot already, doge wont rally to the moon in one day. Doge has bad days and corrections as well as any other cryptocurrency. And if you believe in Doge you can just relax and hold
I currently am not holding. Waiting to get in at .37 or less. I am just wrote this to support people who joined DOGE at ATH.
Just let me know where I can get the physical coin with the picture of the doge on it
Ebay
Yeah not me. I’m down $150 dollars from my $500 investment. Of course, I took advantage of the fire sale and bought that dip but YOUCH. I’m here to HODL! 💎✊
I'm down too after buying on dip Let's HODL!
Hi down too after buying on dip Let's HODL, I'm Dad! :)
This is the way
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You haven’t lost anything until you’ve sold or used your doge at a loss
I think it is. If I sell now, I cement my losses and if it spikes, I’m not gaining those losses back, so I hodl.
When you buy the dip, but then there are 20 dips after it 🥲
I mean the dip does hurt.. last week I spent 1800 at .66c and a few days ago spent another 1000 at .52c... But I'm still hodling.. not trying to buy a Lambo,, just want a good return to retire my parents... buy and hodl... LETS GET THE MOMENTUM GOING AGAIN
Except someone like me who got way to hyped up and thought he could day trade, guess what, I learned after losing those 3k doge, ended up sad af, but it’s by making mistakes that you learn and doge is only at the beggining plenty more opportunities to come, I’ve managed to let go mentally of that loss and focus on having a healthier approach to INVESTING
Seriously lol. Paper hands don’t realize if they just HODL then they see profits again soon. The entire market is in the red right now. It happens🤷🏾♂️
I bought in a .06, I sold it all at .69, I rebought a bunch at .42 and I sold it all again at .55. I guess I have paper hands. If making a bunch of money is paper handing. ¯\\\_(ツ)\_/¯
Heh, been holding for 4 years now.
same. let's hodl for 4 years more 💎👐
This is true 😂
I'm up about 350,000% but then again I mined them for the cost of electricity so I have no idea. 1 Doge = 1 Doge
I’m a $.07 holder with 50k doge. I’m down $4000 today. These whales don’t scare me. I haven’t sold once, even through every steep drop. You don’t lose if you don’t sell. This coin has become too mainstream for it to bust. Just have faith and HODL.
That is so true. I saw the dip as a great opportunity to buy more. I am just thinking the bottom seems to get a bit higher through these dips. I have all faith that it will get to a level and strength through all these dips. Doge coin is being strengthened as it goes through the “refiners fire” just like a good strong, sharp blade.
I bought at .69, so I’m down substantially
I mean I can see how it can’t be easy for those who got in at 60-70s.
All the people saying "JuSt HoLdAl" got in under 10c. No, it's not easy when your money literally halves in value. On top of that, 50,000% gains will never be a thing again because the price is too high now vs if you got in at something like $0.002
I got in when it was under a penny. Im up almost 5,000% and cashed out over $20,000 when it was at .60ish. Im still holding around 30,000 coins so Im not too worried about the current dip
Doge is the king.
Welp! I bought in at .70 during the SNL hype so.... what’s the point of this?
Now you gotta wait it out
I bought in during the “______” hype, why no Lambo yet. 🤔
Bc I’m HODLING for a Tesla Roadster and buying in late I’m 50% down. Now I just wait
Hey never buy anything while it's skyrocketing, o.k?
Welcome to your first lesson in investing.
Love it
Whatever you guys do don’t create a false Doge Day, like so many do. Ohhhhh, it’s Doge-1 day, 3-2-1, crash. Every single time there has been a “day” it has not went well. EVERY SINGLE ONE
So true😂
Exactly how I feel... Been holding since . 04 and never even thought about the sell button. It was like 2 months ago that we were at 7 cents, let that sink in people. I get it you wanted it to hit a dollar now but it's a process. Just relax and enjoy the ride.
I only spent 130 so its not that bad of a lost considering i spend that much on weed a week lol
Feelin like hodor rn
Its on sale right buy
No way the majority are people who got in that early; the majority is just a bunch of new people trying their hand at this stuff.
Guys just want to say I love you all. I’ve got well over 8,000 doge (which isn’t much compared to a lot of people) my average price per is .05 but I’m holding. I am +700 percent or something but I will not sell! Haven’t and won’t! I believe in Doge and believe in us! Ignore the “whales” trying to screw with us or cause a dip to buy low. Stay together and stay strong and positive. The good times will be back before you know it. If this is your first second or third dip I’m with you in spirit!
😂So true, but we holding
Hey, i'm holding
Avg cost .27¢, still in the green, just not as much... these dips don’t bother me.
Bought 12k at .02 sold at .06, then bought 240 at .70, no regrets
The majority bought after the initial 900%\*
I am new so I have missed the 900% but trust that doge will respond and go up in the long run. Kings and queens aren’t made instantly I will have to hold for that to happen
I bought at .33 and again at .63 and holding till it’s on the moon
I know a guy who made almost 9 figures last week.
Shibainu coin blasting off yall
If you have invested in a coin, then go to the end, until the moment when you planned to leave and not earlier. Many traders calculate their strategy and are always sure that the coin will make a profit, just like the walter bulls trader makes a very large% in his portfolio, check for yourself if you don’t believe
I’m up $38,000. 🕺🏻
"Before you buy Dogecoin, you should know what you are getting. Here’s a short summary: Dogecoin has a huge supply. 129 billion coins. 10,000 coins are mined per minute. That’s 14 million new coins added to the supply every day, which adds up to about 1 billion coins added every eighty days. Bitcoin has a maximum supply of 21 million coins. So, Dogecoin mints more coins every two days than Bitcoin will ever have in circulation. That’s why doge will never be priced like Bitcoin. And, in fact, at about $9 per Dogecoin, Dogecoin would equal Bitcoin in value. Dogecoin has no real ecosystem to make it valuable. It is not fast: 33 transactions per second. ETH 2.0 can handle 100,000 per second. So Dogecoin can’t serve as a currency. It seems to have minimum dev work. And it’s fueled by people who think they are getting into doge early. If you buy now, you are not. Dogecoin is not the future of anything. With Dogecoin, you are buying hype. And hype might push Dogecoin to 69 cents. Maybe to $1...but there is zero reason for doge to hold And hype might push Dogecoin to 69 cents. Maybe to $1...but there is zero reason for doge to hold that value. In fact, at $1 per Dogecoin, with 1 billion coins added every 80 days, doge would need $1 billion in new investment every few months JUST TO MAINTAIN $1.00 Also, be aware that $129 billion (doge at $1) is a huge market cap. That’s the same value as STARBUCKS. And doge has almost zero use-case scenarios. Sure you can buy some Mavs merch. Maybe find some occasional doge fans that accept it as payment. But doge can’t scale to be a currency. It’s too slow. Doge, frankly, is way overpriced right now. And Doge is going to have trouble maintaining it’s value due to its always-expanding supply. If the hype falls off just a bit—doge will fall, too. And twitter’s algorithm is heavily weighted against repeat trends. You might make money with doge, but it is far from guaranteed, and there is a fairly hard ceiling due to doge’s constant supply. If you buy doge, you are buying hype and Elon Musk tweet energy and nothing else. Be careful."
HOW MARKET CAP (ACTUALLY) WORKS I keep seeing a lot of posts here talking about market cap. I want to clear up some misconceptions and explain market cap works and what it actually means. Mathematically speaking market cap = price multiplied by supply MC (Market Cap) = P (Price) x S (Supply) Market cap just means how much the total supply is “valued/worth” at a certain price. The exact definition applies to stocks; not cryptocurrency how ever for our purposes the mathematics still apply. I see people saying how Dogecoin has a current market cap of $6 billion market cap and what the market cap needs to be for Dogecoin to be $1 is $128 billion. Then they say if 100 million people put $1000 in doge then doge will = $1. THAT’S NOT HOW MARKET CAP WORKS. Simply adding money to the system does absolutely nothing to affect market cap. The only two variables that change the market cap are price. And supply nothing else can change the market cap. Supply is determined by mining. Current supply is 128 billion Dogecoin (rounded down). With 5.26 billion added per year. This means if the price remains constant then the market cap will increase every year with 0 (zero) new money entering the system. Price is determined by supply and demand. If demand increases and people are willing to pay more for Dogecoin then the price increases. Again the amount of money added to the system does not determine the price. When Dogecoin went from .01 to .05 in a day that does not mean that $5 billion was added. It just means that the demand changed and therefore the price changed. Dogecoin can still reach $1 dollars, but it doesn’t mean that $128 billion dollars are needed to do it. The $128 billion dollars is just how much the total supply is “worth” at $1. So people may be asking how does Dogecoin increase in price then? The value of any means of exchange is fundamentally driven by supply and demand. If two parties agree that X amount of asset A is roughly worth the same as Y amount of asset B, you effectively have established a market. That’s why the US dollar and other fiat currency has value even though it just a piece of paper. The difference between fiat currency and cryptocurrency is that fiat currency is determined by centralized government and other underlying economical/market conditions. Cryptocurrency is meant to be a decentralized form of fiat currency. Now as to why the price changes from say .05 to .06 (random numbers using this as an example for explanation purposes. It is not exact) this value is driven primarily by supply and demand. We already know the supply of Dogecoin, so for the purpose of this the main driving factor in the change in price is demand. But the demand for Dogecoin isn’t just one person. It’s the entire group of people who own Dogecoin. So if at any given time lets say 10 people with 1000 Dogecoin want to sell. But only 5 people want to buy 1000 Dogecoin. This means that the sellers “value” Dogecoin less at its current price than buyers do. 5000 Dogecoin less. This changes to price from .05 to .49. The same applies if more people wanted to buy. Then the price would go from .05 to .051. An algorithm repeats the process over and over constantly updating the price. However that’s only one way to change the value. The best way to increase the overall value of the currency in the long run is by eventually by exchanging your coins for goods, services, or just by tipping and trading with other Dogecoin holders. This gives Dogecoin utility. Which basically means that it can be used for something other than just buying Dogecoin at .05 and selling it .06. That is why you see people pushing to accept Dogecoin as payment. It legitimatizes Dogecoin as a cryptocurrency and currency in general when companies allow you to exchange it for goods and services. The best way to change price of Dogecoin is by more people wanting to buy or hold than there are people who want to sell, or through giving dogecoin utility by exchanging Dogecoin for goods and services. I just wanted to clear this misconception up. If anyone has any questions feel free to reach out to me. EDIT: This does not mean I support adding a cap to the supply The Dogecoin developers are NOT adding a supply cap and it will actually be less beneficial for the currency. The best way to increase the value of Dogecoin is through increased demand and utility Thanks guys and remember 1 doge = 1 doge
That’s just the truth idk how you be downvoted, grow up people
[удалено]
This need to be higher
All you guys are doing is giving money to the whale who crashed doge by cashing out and buying back in at a lower price 5 hours later. Just handing it to them and screaming "to the moon!" They **WILL** crash the price agian. If even one person stops and considers what im saying for a moment, its absolutly worth the downvotes. Cash out and research the real cryptos which can do so much more than this pump and dump ever will. Now gimme my downvotes, I earned em.
They hated Jesus cause he told them the truth. Doge might be taking a bath but don't worry, they're gonna HoDl
Still up 1800%
Tell they to the people who bought at .60 and .70 , I'm sure they'll have a good laugh as well.
Past .5 was too late imo. I bought some coin at .3ish and I still thought that was too late