Do You Believe In DOGE???

[BinanceBlackHat]

First, congratulations to all of those who have achieved a profit with $DOGE. I hope some of you are experiencing a windfall beyond your dreams!

With that said: Do you believe in $DOGE???

We all know the backstory by now: a meme coin with infinite supply developed just for the sake of making a cryptocurrency.

Sounds pretty innocuous on its face, but its availability on several trading apps, low barrier/cost of entry along with multiple high-profile celebrity endorsements have brought us here, $DOGE with a market cap in the tens of billions, bigger than the UK giant Barclays...

Is this the true power of community/collective economics or is $DOGE a perfect example of the 'greater fool' theory and is the ponzi scheme everyone thinks crypto is in the first place?

This seems like the type of stuff you can write a thesis on, lol. Would love to hear some thoughts. Thanks in advance for your time and input!

 

[BAPH0MET]

doge
to
the
moon
HODL

 

[BinanceBlackHat]

doge
to
the
moon
HODL

But why? What is your reason for HODL?
Can't be the fundamentals or token metrics, so what makes you a believer??
Does owning $DOGE make you feel you are part of a 'movement' and if so what is that movement about, what does it represent?

Thanks for your reply.

 

[nSnoopy]

Yup i do.
A few years ago i got some 540 dogecoins from a faucet (freedogeco.in if i'm not mistaken), yesterday i sold those dogecoins for some 130$, very easy money out of nothing, up to this point i was not interested in crypto and i'm not really, but it was nice to have some free cash

 

[BinanceBlackHat]

Yup i do.
A few years ago i got some 540 dogecoins from a faucet (freedogeco.in if i'm not mistaken), yesterday i sold those dogecoins for some 130$, very easy money out of nothing, up to this point i was not interested in crypto and i'm not really, but it was nice to have some free cash

So even the fact/thought of getting that free money hasn't increased your interest in crypto at all? Not even to get some more free tokens via airdrop, etc? And congrats on HODLing for a few years, well done.

 

[Azaan]

Welp. I had 7 million doge a few years back

 

[nSnoopy]

So even the fact/thought of getting that free money hasn't increased your interest in crypto at all? Not even to get some more free tokens via airdrop, etc? And congrats on HODLing for a few years, well done.

Not really, not my type of income stream.
I had them since 2016, last year those doge were barely 1$ now over 100$, this is also why i'm not interested in crypto, it's a gamble and you never know if you are right or not.
Cheers

 

[BinanceBlackHat]

Welp. I had 7 million doge a few years back

 

[vario150]

Facebook initial purposes was to connect with others students.

Youtube was no different, it's initial purppse was video sharing.

The point is, when something has values, it can be growth at some extend we couldn't imagined.

 

[BinanceBlackHat]

Not really, not my type of income stream.
I had them since 2016, last year those doge were barely 1$ now over 100$, this is also why i'm not interested in crypto, it's a gamble and you never know if you are right or not.
Cheers

Definitely one of the most speculative investments out there (at least if you are not dealing with the majors). It can be a real crap shoot for sure.
I tend to only invest in blockchain infrastructure projects and trade/scalp everything else.

Appreciate your input and congrats again on your gains!

 

[kingvestor]

as long as we can sell it in pump phase then every crypto is great, will be another story if you late to sell

 

[BinanceBlackHat]

Facebook initial purposes was to connect with others students.

Youtube was no different, it's initial purppse was video sharing.

The point is, when something has values, it can be growth at some extend we couldn't imagined.

Interesting term, but I want to make sure we are on the same page: 'value' or 'values'

Totally agree that 'value' is highly subjective and can be whatever the next person is willing to pay for XYZ, thus making its potential 'limitless'
But 'values' has a more... 'agreed upon' set of beliefs that a group of people share.

So $DOGE definitely has value, being an asset that has risen from $.0000whatever to where it is now, but the reason it got there may be tied into the 'values' the investors have.

Like there is a 'message' or 'statement' by holding $DOGE, similar to $GME stock a few months back.

So I think it may be a combination of both, actually.

Thanks for your reply.

 

[Hiei]

No, just another shitcoin.

 

[PHPInjected]

Even if it started as a joke 8 years ago, it still holds value. Anything that holds value can be marketed, gained from, and even studied or have a thesis written on it.

I'm no economic savant, however the coin is very volatile right now and what will send it to $1 is a new company breaking news that they'll be accepting DOGE as payment. Similar to how Elon Musk announced TESLA will accept Bitcoin as payment and then purchased $1B in Bitcoin. Bitcoin then jumped from ~$38k - $57-63k.

 

[SeedPhrase]

Yes, I do believe...tripled my money
lesson learned - Shit coin can triple your money

 

[BinanceBlackHat]

Yes, I do believe...tripled my money
lesson learned - Shit coin can triple your money

I hope you send 10% of those profits to Papa Elon's favorite charity!
Congrats on your gains!!

 

[BinanceBlackHat]

Even if it started as a joke 8 years ago, it still holds value. Anything that holds value can be marketed, gained from, and even studied or have a thesis written on it.

I'm no economic savant, however the coin is very volatile right now and what will send it to $1 is a new company breaking news that they'll be accepting DOGE as payment. Similar to how Elon Musk announced TESLA will accept Bitcoin as payment and then purchased $1B in Bitcoin. Bitcoin then jumped from ~$38k - $57-63k.

Agree 100% on the 'value' argument. Such an interesting, contrarian story though.

The token creator says 'this has no purpose', which normally leads to the conclusion of 'this has no value', but people have decided to give it value. I am still trying to figure out the 'purpose' they are attaching to this value though. For some, I am sure its just to make money, but that leads me back to the 'greater fool' theory.

Also agree on the catalyst for the next move upwards in price.
Thanks for your reply.

 

[PHPInjected]

Agree 100% on the 'value' argument. Such an interesting, contrarian story though.

The token creator says 'this has no purpose', which normally leads to the conclusion of 'this has no value', but people have decided to give it value. I am still trying to figure out the 'purpose' they are attaching to this value though. For some, I am sure its just to make money, but that leads me back to the 'greater fool' theory.

Also agree on the catalyst for the next move upwards in price.
Thanks for your reply.

Purpose and value aren't hand in hand, necessarily. However, Menger's principles of economics touches on that a bit. Relatively, in terms of perception. Perceived value.

I watched DOGE go from .06 to .17 and then to .47.

It's .26 right now, however, the weekend generally spikes crypto that are on a good run from the week.

To the moon, my friend.

 

[Shamaninov]

1. Your money is 1 negative tweet away from Melon Susk. Just think about it.
2. If the address that holds 30% of the supply decides to sell it for profit, you're liquidated.
3. Will Doge manage to hold positions during the opposite phase of the market?
4. What is the coin built upon? And I mean, which type of emotions are mainly holding/buying/selling the coin right now? Think about the psychology of people who joined the wave. Are they greedy? Or they are "HODLING" it as they say with pure positive intentions?

Of course, you can make profit off it. Just be careful. Of course, you can "HODL" it, just come up with a little strategy, at least. That's my suggestion.

But now, let me tell you something from a perspective of somebody who is passionate about investing, about the charts, about the market and everything related to it. I know plenty of people who have made fortune off trading and making proper investments in the market. And exactly NONE of them take this whole Doge hype serious. None of those people invest in Doge, even though if we wanted to, we could make tons of profit off it just by knowing how everything works because this is our field right? Still, it's a huge no. Why? Due to the risks that don't make sense (listed above) and out of pure principles. This Doge thing doesn't change a thing in the world, there is no meaning behind it, Doge is not future because it's a meme-coin. Humor in its purest cryptocurrency form. That's it. That's why there is nothing to believe in when it comes to this thing. Absolutely.

Can a coin with no purpose last through a bear market when people are shitting themselves due to losses? That's when the real trading begins, btw. Do you think the "upper echelon" will let this whole thing slide like that for long-term? The regulations are coming sooner or later.

Anyways, best of luck to you, guys. If you want to become an investor or trader, then do it the proper way, be above your emotions, be above the greed, be above the FOMO. If you can't do that, then trading and investing is not for you.

 

[tb303]

Doge is going to bring a premature end to this bull run IMO.