Elon Musk's two tweets on Dogecoin drive value of cryptocurrency up by 7%

wxa7115

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Quote from: leetcoiner on July 22, 2021, 02:31:33 PM

This is pretty revealing.
Investors seeing this should realize how risky it can be to invest in the wrong coin, like meme coins, the price of which can collapse overnight.

Yes, and investors who are very experienced in the crypto space will always ignore meme coins, because they can't be fooled by meme coin developers, especially if they've made profits very often through other cryptocurrencies that are more popular than meme coins.

While it is true that someone with even a moderate experience in this market is not going to be fooled by those coins there are many newbies that will and the worst part is that once they lose their money then they are going to tell their friends and family that this market is composed of only scammers and to not adopt it.

So not only they will cost themselves all the losses they will suffer but they will cost others all the money that they could have made as they would have invested in bitcoin and other good coins instead of those meme coins which cannot be classified as scams but that are completely useless.

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Quote from: NewRanger on July 25, 2021, 08:19:04 AM

after many traders rekted now investors really carefull with every single tweet or statment from elon musk. He was proven as actor behind this market manipulation by creating fud about bitcoin mining energy and continued by another fud. I am pretty sure his position on bitcoin now floating minus and he is trying to recover market sentiment now.

Not only for trader but it's affecting the whole crypto community, Elon have an influence and power to affect the market and he really doing that before but he just throwing away that chance to gain trust from the community so as you said right now people will be more careful in the future especially any tweet from elon since we can some hidden intentions like market manipulation before.

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Quote from: Brus123 on July 24, 2021, 04:05:17 AM

To my mind, Elon Musk now sees on his own that people at last figured it out that he just manipulates the prices to benefit by himself. Without any fundamental reasons for it, prices of Dogecoin pump several times due to Elon Musk’s tweets, so he decided to use it as a tool for earning, but now price doesn't react so significantly. So it is pointless for him now to try to pump the price of Dogecoin again by his tweets.

after many traders rekted now investors really carefull with every single tweet or statment from elon musk. He was proven as actor behind this market manipulation by creating fud about bitcoin mining energy and continued by another fud. I am pretty sure his position on bitcoin now floating minus and he is trying to recover market sentiment now.

OcTradism

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Quote from: kawetsriyanto on July 22, 2021, 06:39:03 PM

Not only experienced investors, even newbies who can think smart, probably avoid buying meme coins. There are already many discussions spread out in this forum that discussing the harm or risk of meme coins. That should be a warning for all members to not trying to invest in meme coins. But for those who are always greedy and think instant profits, they may buy meme coins.

Newbies do like this. They say meme coins are risky, reject to buy meme coins with cheap price but they will buy it when they see big green candles. They are scare with cheap price but are brave with expensive price.

Experienced investors can buy meme tokens or not but if they buy, they will buy those tokens very early or only buy when price of those tokens have serious corrections.

Quote from: Brus123 on July 24, 2021, 04:05:17 AM

To my mind, Elon Musk now sees on his own that people at last figured it out that he just manipulates the prices to benefit by himself. Without any fundamental reasons for it, prices of Dogecoin pump several times due to Elon Musk’s tweets, so he decided to use it as a tool for earning, but now price doesn't react so significantly. So it is pointless for him now to try to pump the price of Dogecoin again by his tweets.

Now recently but a long time ago. Years ago when Elon Musk made his first tweet about Dogecoin. It takes Elon Musk two to three years to accumulate Dogecoin and test the market with his tweets. Dogecoin was pumped with his tweets in 2019 so Elon knew that he can be a big influential person with Dogecoin.

The last year is when Elon Musk officially shown his power to manipulate the Dogecoin market.

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Quote from: leetcoiner on July 12, 2021, 04:01:23 PM

I like that Elon Musk's tweets no longer have the same impact on the market as they did before.
All the same, people begin to think with their own heads and are less and less led by this kind of hype. And this is good, there will be less losses for unknown reasons.

To my mind, Elon Musk now sees on his own that people at last figured it out that he just manipulates the prices to benefit by himself. Without any fundamental reasons for it, prices of Dogecoin pump several times due to Elon Musk’s tweets, so he decided to use it as a tool for earning, but now price doesn't react so significantly. So it is pointless for him now to try to pump the price of Dogecoin again by his tweets.

llecrf

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it has many times and yesterday when Elon Musk wore a Bitcoin t-shirt, the price of Bitcoin and altcoins he tweeted rose slowly, there are many people who are still following Elon Musk's tweet trend, I don't understand what they are thinking, but as I know, Elon is a crypto Investor and he has a lot of followers on his twetter account, I also hope Tesla will accept Bitcoin and other altcoin payments too so the price will increase by more than 7%

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investors who are very experienced in the crypto space will always ignore meme coins, because they can't be fooled by meme coin developers

Not only experienced investors, even newbies who can think smart, probably avoid buying meme coins. There are already many discussions spread out in this forum that discussing the harm or risk of meme coins. That should be a warning for all members to not trying to invest in meme coins. But for those who are always greedy and think instant profits, they may buy meme coins.

ziyaaa

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He indicated that he owned DOGE yesterday in the live event with Jack Dorsey. He said it like he of course made an investment into DOGE. These statements can be really enough for affecting the price a little but not too much. I wonder what he will do when he loses his influence on the price completely. Then, he will be no different than a regular investor as his words won't be affective at all.

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Does it mean that the power of Elon Musk still is great here? Ahaha
we know that many followers and fans of Elon still believe in whatever he says and the media is always making it big. That will always give influence to the coin or token that he tweets.
As it happens to Dogecoin where several times getting tweets from him and it becomes a big hype, pump so high only in a short time.

Bitcoinjheta

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I think 7% is quite exaggerating. We should consider the increase of bitcoin at a time since elon musk is just going with the flow. Most people are not easily fooled anymore by his tweet that he is the one contributing to the market but its way of lossing funds out of it.

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Quote from: leetcoiner on July 12, 2021, 04:01:23 PM

All the same, people begin to think with their own heads and are less and less led by this kind of hype. And this is good, there will be less losses for unknown reasons.

It seems like that people are using their brain. So many people didn't wanna to buy the shitty coin again after the dump that happened with bitcoin. Musk was focusing with bitcoin now and it looks like doge gets abandoned again. Bitcoin was the real coin and people must leave the shitty pump and dump meme coins.

leetcoiner

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Quote from: leetcoiner on July 12, 2021, 04:01:23 PM

I like that Elon Musk's tweets no longer have the same impact on the market as they did before.
All the same, people begin to think with their own heads and are less and less led by this kind of hype. And this is good, there will be less losses for unknown reasons.

Investors saw how this kind of hype will result in a lot of losses from newbie investors who just want to follow influencers on their decision to invest, it's not too late for Musk he can still redeem himself by getting informed and stop creating FUD on the market particularly on Bitcoin, he will have a meeting with Dorsey I hope he will redeem himself.

This is pretty revealing.
Investors seeing this should realize how risky it can be to invest in the wrong coin, like meme coins, the price of which can collapse overnight.

wxa7115

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Quote from: leetcoiner on July 12, 2021, 04:01:23 PM

I like that Elon Musk's tweets no longer have the same impact on the market as they did before.
All the same, people begin to think with their own heads and are less and less led by this kind of hype. And this is good, there will be less losses for unknown reasons.

What is interesting to know is why this is the case? If it is because of what you state and people are deciding to think on their own then this would be great as the level of influence of Elon Musk over this market will remain low for some time.

However if this is not the case and this has to do with the fact that the newbies that were part of the market lost all of that money, then the next time there is a bull run and we have more newbies in the market the influence of Elon Musk could make a comeback as those newbies will make the same mistakes as the current newbies, and despite our warnings they will not listen to us as we are a bunch of nobodies compared to Elon Musk.

leetcoiner

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I like that Elon Musk's tweets no longer have the same impact on the market as they did before.
All the same, people begin to think with their own heads and are less and less led by this kind of hype. And this is good, there will be less losses for unknown reasons.

pawanjain

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7% is like nothing in the crypto community. Although I know that the point is about how people start buying as soon as Elon makes a tweet, I think Elon is losing his influence over the crypto market.
Since the dump of bitcoin, many people started blaming him and criticizing him and this gave him a bad reputation in the crypto community.
Over a period of time I think people will start realizing their mistakes and then his influence will completely vanish from the crypto community.

Bay_Harbour_Butcher

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I'm confused why there are still many people who listen to what Elon has to say, because I think Elon is very inconsistent with what he says, his actions and words are very inappropriate.

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Quote from: ryzaadit on July 01, 2021, 03:07:52 PM

You can see, by how much percentage changes with his tweet.

IMO, the trust from the crypto community to Elon already not really have high expectations due we already know he was shilling 2 tokens/coins ($DOGE & $SHIBA). And one more thing, with his Ken Inutweet about the energy mining the reason at that day make crypto market collapse. Almost cryptocurrency community right now is pissed off with him, only in the matter of time the community will not gonna listed anymore.

Let's not judge the stuff yet. I am also one of the guy who lost huge money because of Elon's influence and obviously I loaded the bag of DOGE because of him at different entry points starting from lowest to highest price of DOGE.
I am still keeping the DOGE stash as it is, because: its huge quantity, and most importantly Elon's promise to launch the SpaceX shuttle with DOGE payment in first quarter of 2022. Now many people would say that it could be just hoax to pump the market when he was doing it early this year, but it can't be if it related to his dreams and billion dollar project. I am keeping it as a chance to grow OR else I am keeping it as my experience if nothing happens in 2022.

sammy21

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Currently Elon's influence is very large especially on novice investors, and they think that Elon is the perfect person to follow so what Elon writes will create hype in the near future, but that will end if they have realized that they are only being played by Elon for the sake of its own profit, not purely to advance crypto.

isaac_clarke22

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Quote from: pinoycash on July 02, 2021, 10:07:29 AM

~

Bah. Seems like another guy or like that neighbor next door that would just talk random things about Bitcoin.
It is his followers that are blind and continues to just get "hyped" by his tweets.
Doge was just like a simple meme, and it was never meant to be anything serious.

wxa7115

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Quote from: jatin729 on July 02, 2021, 11:50:16 PM

It is totally against the market interest because he is manipulating the prices and people like us losing their money. We are looking for long-term support for what he is doing like manipulating some investors to invest in doge/shiba inu. No doubt we can earn some profits but still crypto is volatile and one tweet can ruin the whole profits. so be careful.

indeed Elon's influence on the crypto market is still very much felt, and this causes anger for people who are harmed by what Elon did, but on the other hand for people who have the ability to read situations and manipulate Elon, he can benefit when he is able to determine when to enter and out of it, from myself I still don't dare to follow Elon's game because the shadow of the losses caused I still can't understand if it happens to me.

There is still some strong level of influence coming from Elon Musk but people need to understand that he only has the power they allow him to have over them, if people stop listening to him then he will be unable to move the markets with a few tweets, which is why his influence has diminished greatly as he has being identified as a market manipulator.

But enough people are still following his every word because they want to obtain profits, things got so bad that at some point someone decided to make a bot which traded based on the tweets of Elon Musk, which means that most likely the influence he has over this market is going to remain for a long time.

Topic: Elon Musk's two tweets on Dogecoin drive value of cryptocurrency up by 7% (Read 523 times)