Topic: Dogecoin - History repeating itself (Read 537 times)

May I ask, Dogecoin entered the market first or Elon was the first? I clearly remember that Elon only entered the market in 2021 and the doge was 8 years old. Without Elon, doge wouldn't be as famous as it is today but it still has a supportive community and is used as a payment method in some places like gambling sites...so if Elon abandons it, it will go back to where it was and get less attention but never die.

Yes of course bull market will be continue. In this month, all market will be pump and recently Dogecoin will be pump hardly. I think its price will be pump highly and go to the $0.5 per Dogecoin In few months.

There’s another hype with DOGE and I see that as a pure manipulation where the whales are taking advantage the market situation, I also believe that same scenario will happen if you get hyped by this meme token. This is a pure pump and dump token, there’s still no usage though Elon can hype this by accepting into Twitter platform but I guess this will not be an easy update for them. You can buy some for now but never go all in, you still need to be more cautious.

Bull markets have always been led by bitcoin and no other coin and we can see why this is the case, the market cap of bitcoin is by far the biggest we have in the market so when bitcoin moves then most of the market reacts in the same way, however there are exceptions, which is what we are seeing with dogecoin and a handful of coins which are going through a hype phase, but once that disappears then they will join the rest of the coins and show a heavy correlation with the way bitcoin moves.

Even if elon supports dogecoin it won't ever be some sort of ground breaking crypto.  It is a joke, jokes die no matter who is behind them.  Doge was a viral hit and just like anything else that's viral, it has its time and then it passes and people move on to other things.  Doge will prove that is no different.

Dogecoin has increased almost 2x in this bear market, yes we know that many altcoins have decreased by -95% and some even more,
but because Elon Musk Doge really came out of the bear market,
it means of course when Doge is bullish it is certain altcoins will also be bullish and the fact that at this time it is true that altcoins with Web3 and the metaverse are experiencing high gains,
so hopefully this is a bullish start for cryptocurrencies.

Now it’s clear why bitcoin began its growth at the beginning of 2020, before the reporting, apparently someone knew in advance about the purchase of bitcoins by Tesla even then, and the second wave of growth was just at the publication of Tesla’s reporting at the beginning of 2020. Quite possibly this year will also be, the purchase price is lower than Tesla sold BTC in 2022.

It is not clear why then Musk initially chose DOGE for his promotion? Partly apparently due to the low transaction prices, but then he could choose instead of DOGE, for example, LTC.

This is what those people do not really get, Elon is just playing, for him all of this is nothing more but a simple game which he uses to manipulate the dogecoin market, but why he has decided to do this? Because he can, if he could he would try to do the same with bitcoin as this will benefit him economically, but since he has lost any kind of credibility with the bitcoin community then he has decided to do this to the dogecoin community instead, and unfortunately for them they are moving in the exact way in which Elon predicted they will react.

Elon is just playing here, he doesn’t commit into DOGE project and yet many follows his hype with regards to this one. We might see another pump and dump price with DOGE and only those who know how to ride with the hype can make profit. We cannot remove the fact that DOGE is a meme token and it is being manipulated by many so be very careful dealing with meme token, they can pump and dump at no time.

What you mean is its hype are the one that won't survive but the coin itself can survive for a very long time even without Elon Musk and only having a minimal value but its value will still be better than last time as the supporter for it will still be there. They will continue hodling their doges thinking elon will came back anytime soon or they will simply think that dogecoin can still pump in the future.

It literally started as a joke or a meme coin and many call it worthless. Not that I support the coin but we should accept that dogecoin is also widely supported in many gambling sites and other platforms. I guess that is still considered as a utility right?

Obviously there's more to it than that but I have no incentive to explain it to you.

If we are looking at how fast or cheap it is, than SOL should have been at the top better than bitcoin, if you have other point of views then it would be smarter, but just the pace is not good enough.

Dogecoin has always been useless and not really liked a lot up until Elon tweeted about it, so there is no denying that neither the pace, nor the cost of it is the reason why people invest into it. That means we should be focusing on something that is more like bitcoin or ethereum and that way you could make money from it, since they are really good all by itself. That is why I believe it will be about and I will definitely make a profit based on that.

LOL, SHIB is an Ethereum token, what "development" do you think is happening with it? Its governed by an immutable smart contract. It literally can't be "developed." I dunno why anybody would buy it or use it as a currency when you could just use ETH, which you need anyway to move SHIB.


He's never promoted SHIB. Somebody asked him how many he held once and he said "zero." Its not his fault if there are other cryptos trying piggyback off the community & good name of DOGE.

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

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

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

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

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

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

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

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

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

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

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

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

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

Dogecoin is the ultimate copecoin.  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

I will advise holders of Doge coin to keep holding. History can actually repeat it self and moreover, you have your coin in the wallet. Doge coin will rather go up due to speculations and a likely hype if Elon eventually tweets about Doge coin. Now that Elon is in charge of twitter, it is possible he can deploy Doge coin to have some use case, just taking a guess.

It's really is kind of a repeating story what is going on with Dogecoin. When the first tweet of Elon Musk about Dogecoin happened back like 2 years ago it came pretty much out of nowhere for everyone and it caused a massive price pump of Dogecoin, but not only that. Musk and his tweets basically kicked off that crazy shit-coin hype wave that happened back then with literally hundreds of new shit-coins being released each and every day. Of course almost all of them are completely dead already again, only Shiba Inu is kind of still relevant but of course the longterm trend for Shiba Inu is also downwards and i would never invest into it. Same with Dogecoin.

Please read my post carefully. I wrote Dogecoin in previous years usually have its bull runs in late months of years. Years ago, there was no engagement or manipulation from Elon Musk  I used this example to convince people that even without Elon Musk, Dogecoin will still be able to pump in Q4s.

Maybe Elon will shill Dogecoin again. Maybe he won't do this. But Dogecoin will survive and have its bull runs as its habit.

However we can exclude chances to see morr technical things for Dogecoin from Elon Musk, Tesla and Twitter. Elon has enough resources to add Dogecoin to his companies. The highest option is adding Dogecoin as one of his companies' payment methods.

I think you're a bit harsh on Dogecoin and Shiba Inu. Yes they did dump. Yes, their billionaire targets may not like them. But you are forgetting something: We are in an unforgiving bear market which is unrelenting. Even legit coins/tokens with huge utility are biting the dusts. If this was in bull market, the story would be different
Get some perspective

If by this you mean integrating a Dogecoin wallet, tipping mechanism, and accepting DOGE as a payment method for premium services, then I think its highly likely.


As opposed to every other pump of any coin, ever?


He has a big bag, accepts it for payment of Tesla merch and recharging stations in a few areas, and has stated multiple times he plans to continue supporting Dogecoin in the future. He is just not the type of guy who will let his investments fail, nor would I want to bet against him.


Not at all similar. One is a ETH token specifically designed to leech off the success and community of the other. DOGE has had its own blockchain & a strong community since 2013.


Not true. DOGE has several bigtime vocal supporters, including Mark Cuban, Snoop Dogg, and of course Vitalik who has donated millions of dollars to the Dogecoin Foundation.


Survive? Yes. Thrive at its current level? No.

Seems like the negative reaction over this issue from maxis just stems from them being their usual sour grape selves, jealous of the success of anything crypto-related that isn't Bitcoin, seemingly unable to experience happiness unless the price of BTC is pushing all-time highs. A cursed albeit self-imposed mindset.

We all know that any market undergoes a cycle, like Bitcoin undergoing a 4-year cycle so it is not news that Dogecoin will go another cycle of pump and dump.  It was Wolong first that make a huge pump and dump scandal to Dogecoin[1][2].  Then comes Elon Musk.  So the cycle of Dogecoin pump and dump repeats itself, it is that it has no fixed timeframe and time cycle and dependent on the person who wanted to pump and dump the market.

---

[1] https://steemit.com/bitcoin/@joseph/wolong-the-game-of-deception-unedited-version
[2] https://cryptomode.com/curious-crypto-characters-wolong-the-dogecoin-manipulator/

I think Doge has established a blue print on how a meme coin could be big in the future.

And now that Shiba developer is just following it, and if Elon Musk join the picture then it's a win win for them and for Elon. However, for those who knows what's going on like the majority of us and the OP himself, for sure we will not take that bait and invest our money on such meme coin.

Elon has been full of s**t and clearly he is here to manipulate the prices in his favor, or for his pet crypto project to benefit his company.

I am surprised that a lot of people talk about Ilon Musk in a good context because he is manipulating doge-shitcoin and the cryptocurrency market like he did in 2021. But many people make fun of bitcoin-maximalist Michael Saylor. Elon is acting solely in his own interests and now doge is being pumped solely on news of Elon's purchase of Twitter. I think this is wrong and not good for the crypto community.

I literally stopped reading after you stated SHIB. In general they are all just capable of luring peeps into their universe where prices are so cheap that you can easily buy them in bulk and think you have huge amount of it and could easily turn it into fortune. Basically this is calling crowded funding ultimately because it’s little investment and that’s what peeps want these  days. You know that feeling of buying these shit coins and hoping that some of them will turn into bitcoin like price tag in the near future. That’s funny but bitter truth.

Of course, dogecoin has been around for a long time but I don't believe in the recent pump, might just be because of the Elon acquire twitter and Elon has been talking about Doge for quite sometimes now, hence the pump

First of all, doge and shiba should not be compared. Shiba is a baby crawling next to the doge and will never be like a doge to me. In general terms, the main reason why the doge rose so fast is Elon Musk. He has done this very well, both with the power of his money and with his popularity. The main reason why it has risen recently is that, as you mentioned, Elon Musk bought Twitter. It will probably add doge as a payment method to Twitter soon.

Each year, Dogecoin has good bull run around late of a year. This year it repeats the history which was made even before the appearance and engagement of Elon Musk and his interest in Dogecoin.

The rise of Dogecoin can indirectly help other "Doge" tokens to fly. I have no idea why people invest or join speculation with tokens only because of their names contain "Doge" word or related to Dog in its name.

Dogecoin is a proof of Work so it is a good altcoin to choose. In addition, the massive love of Elon Musk is helpful for it too. Elon Musk, Twitter and Dogecoin. Elon already becomes Chief Twit so he can more easily to add Dogecoin into Twitter.

Maybe yes but can't just easily erase it from the mindset of many people who will still think that Doge is a meme coin and this also Shiba Inu. I say they are unique and far different from their kind but once they are still a meme coin, it keeps generalized that they are not suitable for long-term investment. And they just survive the market competition due to manipulation and shilled by an influential person like Elon Musk.

I don't stop people from investing in this project but it was just to remind the risk in them. Then, it was their decision to take it or just leave it.

1. Don't compare doge with shiba. Doge is the only meme coin that counts
2. Yes, it is a cycle. When do we short it ?

Doge coin was doing well before Elon Musk decided to pump the hell out of the coin, this project is the best community backed crypto coin I guess that's why Elon Musk chooses the project out of many others, Dogecoin will soon become more than a meme coin now that Musk has taken over twitter space.

and all exchanges have Dogecoin. because indeed Doge "The Mother of memecoin". No doubt, even though the supply is unlimited but many are holding it even Elon Musk has been a Doge fan for a long time and because he is always being tweeted by Elon Doge it starts hype and reaches the most insane ATH in history. But if Doge's history is going to repeat itself or it can hit its highest price again it might require even stronger hype. But anything in the crypto market can happen overnight, it's likely to repeat itself or it's just going to be memecoin in general.

What happens to Dogecoin in the past is a good way to remember that manipulation is really possible in a decentralized project and when one of the known personalities like EM is capable of it. And until this person still backing up Dogecoin, we can expect that one day a surge of its price can be possible and even more bullish than before. I was going to believe that but I was neglecting to buy Dogecoin since I didn't find any news that could finger point to that particular event. But of course, I will also take ride of its pumps and hypes once it comes again.

From our point of view, much of what is written here is correct. But when the bullrun starts, there must be coins that are strongly publicized by the media. People are primarily interested in what is written in the media, few of them go into detail and look at the technology, or the usability of the coin. For example, if the Los Angeles Rams win the Super Bowl, the team will sell more jerseys. This is a story that is written over and over again, whether in Memecoins or in sports. If you ask a newcomer if Doge has a limit, he probably won't be able to answer that, or maybe he won't understand it. But if he can show a wallet at the next BBQ-Party and has X.XXX.XXX Doge Coins, then he is the king. If you ask him about a limit of Bitcoin, then I hope that he can answered.Maybe these two questions without an explanation are useful at the next party. I will try it if asked.

hhahha the dogecoin is actually to be mother of memecoin and shitcoin despite the fact they have unlimited supply and not much the real use case and they are using PoW that most climate people wont aggree but the dogecoin to be most liquid coin that all over the place Centralized even decentralized in BSC pegged by binance.

Absolutely power corrupts absolutely and Elon Musk's mind is corrupted he is now taking us for a ride with how he hype meme coins who would have thought that only Elon can hype a coin like Dogecoin after 8 years of existence some people believe before the hype that Dogecoin is on its way to oblivion but Elon test his influential on a coin that the community unlikely to hype and get a spot in the top standing, I would have praise Elon if he hypes coins or tokens that have proven their worth in the market for a long time, like Bitcoin.

Yes, of course. You should remember that dogecoin has been around for a long time, if I remember correctly it has been in the market for more than 8 years and Elon only entered the market in 2021. But there's no denying that the doge's success today is due to Elon's hype, before dogecoin was only known as a meme coin, funny coin and didn't get too much attention until it was mentioned by Elon. Assuming from now on Elon will give up doge to shill other memecoins, then doge will not die but it will return to the previous position before elon mentioned.

I have been seeing Dogecoiners absolutely giddy about Elon Musk and over whether he will integrate Dogecoin into some Twitter-profit-scheme. This has led to a superficial pump in speculative nature. Why do people believe that Elon is not going to simply drop Dogecoin in the future?

Lets take a look at a similiar memecoin and its history:

Shiba Inu.

SHIB is in the top 13 on CMC and must therefore be a good investment, right? Wrong. It's trading at less than 15% of its ATH and is barely surviving.

Remember when it first came out? The idea was to do what most shitcoin devs were doing at that time and send most of the tokens to the wallet of a famous personality (Vitalik Buterin) in order to prove that the SHIB devs could never rugpull their investors and crash the price - they thought Vitalik would never touch SHIB as if there was supposed to be some unspoken, sacred bond between him and this ERC-20 token. Nobody expected Vitalik to donate the shitcoins/memecoins sent to him and crash the markets. Yet he did. Not all of them. Nonetheless the concept of a rugpull-proof memecoin failed. Vitalik did not care about the value of SHIB or the investors of SHIB. And so SHIB crashed and today has yet to recover even a fifth of its ATH price.

Now we have history repeating itself. Except this time with Dogecoin and Elon Musk as its only pillar of support.

I believe Musk is an egomaniac who only cares about the attention he gets from doing things like buying Twitter, making unsustainable cars or half-baked self landing rockets. He is just a bored multi-billionaire who wants more attention. Do people really believe DOGE can survive without Elon Musk backing it?

I for one will not be wasting my time or money just because some useless memecoin did what all cryptocurrencies do every now and then by pumping a decent 50+%.