Topic: DOGE is living proof of Influential Power of Rich People! - page 5. (Read 789 times)

Yes Elon Musk is the richest man alive but I don't think that being rich is the main reason why many people are getting influenced by him. Elon a highly intelligent and resourceful person, he is not just famous because of his money and power but also because of his works and ideas from the past that contributed a lot to our current generation. Like me, I follow Elon Musk not because he is the richest man but because of his ability to think deeply and critically and he knows the potential of someone or something

There have been some insane growth in Dogecoin from past year but from the past week it has gained more than 113% and now currently trading at $0.36.The mastermind behind these insane pumps is Elon Musk who visualize to colonize Mars by 2024 and make Doge it's official digital coin.He simply tweets about it and rest work is done my market force of demand and supply.A coin started merely as joke is now at position 7th on CMC with maket cap of $41 billion really?They have not done any upgradations in the coin from past two years and still it has managed to reach that position.The billionaire investor Mark Cuban also stated that "I will not sell single Dogecoin ".

Just have a look at the growth chart of Doge on CoinMarketCap:



Elon has started to tweet about Dogecoin from the past year and you can clearly see how much Dogecoin have pumped from 2021 and each time he has tweeted the prices have increased drastically.

So you can say that these influential rich people can easily manipulate the market according to their own interest and gain profits from that and then they also try to create dump situation after cashing out their profits.Elon might also be holding good amount of dogecoins secretly. Don't blindly invest in any coin under the influence of others which might cause you loss in the end.

This is very interesting to see that the current value of Doge coin has made by some tweets of Elon Musk probably there will be many people who will have invested in Doge coin by considering Musk's tweets which indicates the future of their investment depends on Musk's tweets about Doge coin well, this is getting more interesting.

consciously or not people like them are people who can make history.
just one ordinary twitter tease of a person like elon managed to make the price of doge new ath and this I think is pretty crazy. i agree with @so98nn if crazy people like elon make 5-10 posts in one week about doge i'm sure doge will go up fast and fast. what I regret right now is that I had no intention of investing there in the early days because I thought that doge was not worth

I never expect this a DOGE coin can perform like this I never trusted it as an asset to hold for the long term. Since Elon Musk invested in Doge. Doge is performing like a huge potential coin. It is rising all due to the hype of Elon tweets but I must say when it will drop many traders will lose huge money. For me investing in DOGE in the current market is highly risky and yes I agree Doge is living proof of the Influential power of Rich people.

I was thinking Elon Musk had stopped tweeting about dogecoin for a very long time now, I'm suspecting Elon is having an underground partnership with dogecoin team, this could be about the sixth time he has helped pumped dogecoin, this is clear opportunity and signal to investors to buy more of dogecoin, we don't know if Elon will certainly tweet again but I'm sure I'm not gonna miss the next doge pump.

The current situation of doge is much more painful for me. An ordinary person who has no knowledge of the market invests in doge just by trusting a tweet, and I can assure you that most of the lastest doge investors do not even know what it is, what crypto is, why they invest it. I am tired of telling about it, but everybody still continues watching cartoons without paying attention to what I say. Hopefully, they all get what they want, but we all know it is not gonna happen.
By the way, my phone has not stopped since yesterday. 🤯

Dogecoin is a leaking boat, way more dangerous than any other altcoins to invest on but who cares right? I don't hold dogecoin and if you are lucky to be holding yours still even after all this incredible surge it will be wise of you to take profits because you start seeing negative trend

I never imagine that Dogecoin will be pump this way who would have thought that Dogecoin will reach 25 cents when just a year ago it hardly reached 1 cents, nobody I guess saw this coming it took Elon Musk to pump it to it's highest price, it's keeps moving up you are right a few more tweets and we can see Dogecoin trading at $1, the big question now will Elon Musk continue to support and tweet Dogecoin for the coming months and will it only Dogecoin I hope he can set his eyes on other coins like Tron.

how about waiting first for the action of indicators that it's going to be safe to get in. buying now will just make you regret seeing that you could have bought more if you waited a little longer.  the price might just drop actually to $0.18 and it's going to be a good entry price which you could buy 5doge for a dollar.

the influence of Elon can't be denied to what he did to doge. and of course, he is a very famous individual.

So tempted to go in but I know I can't handle the stress of always waiting and always watching Elon's Twitter feed. I'd rather just hodl my BTC and let it patiently grow. Of course, if I see doge below 100 again I will probably spend a bit just to up my DOGE bag. Waiting for new ATH;)

But the life of a speculator is definitely not for me!

Correct, but maybe that influencial person sees potential in the said coin that's why he mentioned or talked about it or served as an endorsement. What he did makes people curious about it which lead people to know more about it. Surely it will makes DOGE known to many people.

This is the power of being an influential person just a word from them could create huge impact due to their followers.
But we have seen it before just like McAfee how he could pump a crypto back then but he became a clown because of his insane prediction and claims.
Elon should be fine as long as he would avoid those kind of bets and prediction so he wouldn't lose the influence that he now have.

The new pump of dogecoin is a complete surprise to me as it came totally out of nowhere and i was pretty sure that Doge had no more space to grow significantly because it already pumped hard a few weeks ago. But well i was wrong, it seems that a big portion of the people that are completely new to crypto choose dogecoin as their first investment at the moment. I guess they prefer to own a few 100 dogecoins instead of owning 0.001 BTC and of course the tweets of Elon Musk always keep Dogecoin in the center of attention.

I guess Elon is using Doge as an experiment to introduce crypto to the wider audience. He did it to his kids at least. It's pretty obvious that his influence trickled down to other businessman/artists/athletes/influencers and to the regular citizens.

Some people are also taking advantage of this by setting up ATMs and making it available to the masses. Last time I read, there were over 1,800 of them in the US.

The big difference is that Elon is not getting paid by some project teams to shill unlike McAfee.

Being rich is only a part of influence. You have to be famous also. And be famous for something innovative. There are a lot of cases when celebrities invest in cryptocurrency and there is not impact on the market from that. Take for example Floyd Mayweather, who earns tens and hundreds of millions US dollar each fight. He once have invested in cryptocurrency and nothing happened. Or Mexican Billionaire Reveals 10% of His Liquid Assets Are in Bitcoin and Bitcoin price did not show a madness increase.

There is no denying how some personalities can have a lot of influence and power over some digital assets. What we are seeing with the relationship between Elon Musk and Dogecoin can be a very amazing story. But that is just half of the story because no matter how powerful or influential a person is perceived to be if the market will not anymore be listening that perceived power can be inutile. The fact is that there are many who are listening to anything what Elon is saying even if they can be vague at times. I would say that it must be a fusion of two things: the  credibility that many are bestowing on Elon and the critical number of people who are subscribing to his credibility.

10 rich list addresses hold nearly 50% of the total supply
i would like to say  "nooooo i am not doge holder".... dogecoin is no longer decentralized.

I only buy doge when it's down and sell when it's high

I have had DOGE for a long time, not much because I just want to collect it and have proof that I have had it for a long time. There was no reason to invest in DOGE when I bought it at Indodax , But the price jump caused by a tweet from a rich person, it changed my interest in DOGE, I know I got a lot of money, but I hate that nowadays DOGE is driven by a tweet.
Now it's not fun to own DOGE because a lot of people are starting to take their very high technical knowledge seriously and talk about prices and the future.

These bumps are actually bad for the real DOGE holders, because when people recognize that DOGE is one of the highly manipulated coin by someone then they will surely lose their interest on it and then the future will be darker for them. It is good to see the price increasing but sadly people are doing crazy things and investing millions of dollars just for a single tweet.

You guys need to be aware all the time because in the next few days he will make another tweet like which can cause dump on DOGE price.