Topic: Why Dogecoin Is Crypto's Most Dangerous Joke (Read 625 times)
Yes, we know that initially Dogecoin was made just for fun and there was no purpose for this Dogecoin, and of course this is dangerous for those who only follow the trend of a coin and they are too fomo with the promise of New ATH 1$, the result is that many of them can't get out. from the top price.
This article is very long.
https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
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Initially Dogecoin was created just for fun and not to be taken seriously, but the trend created by Elon Musk caused Dogecoin to rise, this makes the risk for those who follow the Doge trend even greater, especially if the expectations are too high to reach the predicted new ATH. will reach $1, but as a result many people lose their money instead of making a profit. Ha ha https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
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This article is very long.
https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
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https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
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No.
In all honesty the people writing most of these articles don't know anything about crypto. Doge is the fad of 2021 so to get clicks you have to write about it. Since SNL when it peaked at 1250 sats it's come all the way back to now 380 sats. It just keeps pulling back. And once there is an alt bear with doges endless block rewards, coins will be flush on the sell sidearm will tank back under 50 sats where it started.
Exploit the stupids in the market still have consequences tho. Maybe not for Elon and those memecoin makers but for the crypto market as a whole. Think it like back then with ICO scam than force enough people stay away from anything of it.
They'll soon realize what they've been doing wrong and it's up to them if they'll worship someone who's high enough and idolize it with his suggestions. Credit him for deeds outside crypto but when it comes to the shilling, it's onto the next level and many will complain later that they shouldn't have followed him or anyone that has a lot of influence to manipulate the market. There's nothing free in this market and every action they take, it's going to have an equal reaction.
Is it a joke? Yes.
Is it dangerous? No.
I think that people can have a bit of fun to speculate on Doge and other meme tokens. At the end of the day, they know what they're doing with their capital and they can make their own consenting decisions about what they want to do with it.
Price crashing is a real prospect but the consequences are limited to speculators who knew the risks.
Is it dangerous? No.
I think that people can have a bit of fun to speculate on Doge and other meme tokens. At the end of the day, they know what they're doing with their capital and they can make their own consenting decisions about what they want to do with it.
Price crashing is a real prospect but the consequences are limited to speculators who knew the risks.
OF course. a token with no usecase and just the backing of a millionaire. Dogecoinn offers nothing but just a Meme coin with an unlimited supply. Elon did all the best he could t make sure the token move up the coinmarket. it highlights how millionaires can influence the market. i strongly believe that there are billionaires controlling the crypto market and this is were it is different from the traditional market.
It is a joke and so are the people who would willingly choose to buy into the hype.
But at the end of the day it's not malignant. It's not like it harms crypto.
Sure, you could argue that it gives crypto a bad rep given its volatile status and such. But compare that to stuff like actual scams like Bitconnect and CBDCs and very soon you won't bat an eye at it.
But at the end of the day it's not malignant. It's not like it harms crypto.
Sure, you could argue that it gives crypto a bad rep given its volatile status and such. But compare that to stuff like actual scams like Bitconnect and CBDCs and very soon you won't bat an eye at it.
Its not harm crypto, but its hard to believe that sometimes investors prefer that meme coins over real projects on crypto. It would make some good coins lack of investment and its not really good.
It shows the true nature of people in crypto: pure greedy and ready to spend their money on anything holding the illusion 'you will be rich. I think if any of you are into the crypto long then you will understand this. No more crypto become top CMC because it was actually good with the technical aspects, a working product with many use cases and users.
Yes, agree here even now we have some more meme coins like this which are going to hurt very badly this all crypto world just few greedy peoples hyping and with their assets they are bringing more profit from newbies pocket. Too many peoples will also lose confidence on crypto because this all creating feud and peoples having this though all about crypto. But, sadly we have nothing to do with this as we have no central authority about handling scams like this, peoples like Elon Musk are going to take good advantage for long time. Yes, we know that initially Dogecoin was made just for fun and there was no purpose for this Dogecoin, and of course this is dangerous for those who only follow the trend of a coin and they are too fomo with the promise of New ATH 1$, the result is that many of them can't get out. from the top price
Unfortunately, many people are involved in this FOMO. Many of them don't really care about the purpose or use-case of Dogecoin, they only see how the price of Doge skyrocket. Moreover, they know if a popular person like Elon Musk and Vitalik supporting this coin. So, people don't care about the fundamental aspect of Dogecoin, just focus on the hype. I assume some of them just plan for a short term, but when they buy at the wrong time, it leads them to hold a long time. These people probably are spreading the rumors of $1 Doge price, they are trying to attract people to keep buying at a high price. This is one of the examples of the risks, trapped in buying at a high price before the big decreases. 
Yes, we know that initially Dogecoin was made just for fun and there was no purpose for this Dogecoin, and of course this is dangerous for those who only follow the trend of a coin and they are too fomo with the promise of New ATH 1$, the result is that many of them can't get out. from the top price
Unfortunately, many people are involved in this FOMO. Many of them don't really care about the purpose or use-case of Dogecoin, they only see how the price of Doge skyrocket. Moreover, they know if a popular person like Elon Musk and Vitalik supporting this coin. So, people don't care about the fundamental aspect of Dogecoin, just focus on the hype. I assume some of them just plan for a short term, but when they buy at the wrong time, it leads them to hold a long time. These people probably are spreading the rumors of $1 Doge price, they are trying to attract people to keep buying at a high price. This is one of the examples of the risks, trapped in buying at a high price before the big decreases. The usefulness of the doge is not too important for them the most important thing is how to follow and get a good position when the billionaire pumps the coin.
I really don't understand the joke about dogecoin. I mean, 28% one wallet, it has no limit, ... Why the hell you're mining Doge, only cause it is profitable? You don't know how long... Why the hell you get focused on? Spend your time on valuable coins like Litecoin (Scrypt too) or perhaps Litecoin Cash, or Bitcoin, ...
A dog? Really?
To your wife: "I bought our new car with doge!"
To your wife: "I bought doge for retirement!"
Really? REALLY?
A dog? Really?
To your wife: "I bought our new car with doge!"
To your wife: "I bought doge for retirement!"
Really? REALLY?
It is a joke and so are the people who would willingly choose to buy into the hype.
But at the end of the day it's not malignant. It's not like it harms crypto.
Sure, you could argue that it gives crypto a bad rep given its volatile status and such. But compare that to stuff like actual scams like Bitconnect and CBDCs and very soon you won't bat an eye at it.
But at the end of the day it's not malignant. It's not like it harms crypto.
Sure, you could argue that it gives crypto a bad rep given its volatile status and such. But compare that to stuff like actual scams like Bitconnect and CBDCs and very soon you won't bat an eye at it.
Yes, we know that initially Dogecoin was made just for fun and there was no purpose for this Dogecoin, and of course this is dangerous for those who only follow the trend of a coin and they are too fomo with the promise of New ATH 1$, the result is that many of them can't get out. from the top price
Unfortunately, many people are involved in this FOMO. Many of them don't really care about the purpose or use-case of Dogecoin, they only see how the price of Doge skyrocket. Moreover, they know if a popular person like Elon Musk and Vitalik supporting this coin. So, people don't care about the fundamental aspect of Dogecoin, just focus on the hype. I assume some of them just plan for a short term, but when they buy at the wrong time, it leads them to hold a long time. These people probably are spreading the rumors of $1 Doge price, they are trying to attract people to keep buying at a high price. This is one of the examples of the risks, trapped in buying at a high price before the big decreases. 
Doge coin should not be taken as a long term investing coin cause anything can just happen in the market and the unexpected will happen. The cryptocurrency market can be manipulated attracting more investors to buy a particular coin with have a thorough search about what nd where they are putting there money. Eon could be responsible for the surge in the price of dogecoin coin and that does not mean he will keep on pushing the price upward.
Most dangerous joke? It didnt do anything but rather serve as its purpose and yes its cheap and fees are so to. When it comes to utility then this is something much better than with other alts in the market.
Cant really blame off on why there are people whom do recognize on making out actions on hoarding and make use of Doge.
but when looking in the mirror about the past few years when doge was still a coin that was only underestimated and used only because the transfer fee was very cheap, I think it is still very reasonable when using this coin for the long term.
but now it's not a good thing to do because the position of doge which until now is still a pum and dump coin and coins that are indeed billionaire manipulation are still nicknames for doge.
it's not wrong for those who want to hold it for the long term because here there is no coercion and prohibition for this, but when doing so means you have to be prepared with the consequences and the worst that will happen.
This article is very long.
https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
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https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
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It is not really that long. I was able to read it in less than 5 minutes. Well, the good thing about this article and about DOGE in general, is that people like are not attracted nor will never be attracted and invest with the said coin. What I think of it before is the same thing that I am thinking of it now, it is a toy coin and I can use it to introduce people to cryptocurrency, what it is and how it works. That's it. Spend 10 dollars and you will be fine. No regrets.
This article is very long.
https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
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https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
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No one predicted the price of Dogecoin to reach $0.73. This is why some people think that Dogecoin is a dangerous joke. Furthermore, the current dump as if it will never return to ATH ever happened. Elon Musk who was once present for Dogecoin, is now talking about another token in a recent tweet. This signals that Dogecoin will not provide a positive value if Elon Musk leaves it.
The thing is that the man Elon Musk became the driving force for Dogecoin and seems to me that he is not enough to sustain its rising value so there must be more in Dogecoin to make it stay valuable. Well, even the founders of Dogecoin were so surprised why people then started to push this meme coin to the top. I think what is happening with many "valueless" NFT assets can be likened to what happened with Dogecoin and they can be dangerous in the sense that the value can fall anytime that low and there is less chance of recovery not unless Elon is on the scene propping it up all the time.
There were certain conditions why Elon Musk chose Doge to pump at that time and now he seems like leaving DOge. And we don't know whether it will pump again because of him or not. But at least, Doge at that time is there because of the tweet from Elon Musk.
However, right now I heard that the DOge team has been added and they have much better team members. It may lead Doge to be much better again. But let's see because it is still ongoing and we still don't know the results. Just be wise and careful when there is a sudden pump price on this coin and also other hype coins.
However, right now I heard that the DOge team has been added and they have much better team members. It may lead Doge to be much better again. But let's see because it is still ongoing and we still don't know the results. Just be wise and careful when there is a sudden pump price on this coin and also other hype coins.
Absolutely agree, its like a ponzi mechanism with many whales among ecosystem that ready to take profit when the price pump.
If you mean the price of Dogecoin is increasing because of the factors of manipulation made by whales, even top altcoins also have the same way. So, I am not sure to say it is a Ponzi scheme, it is different. I think it is a fact that all people involved in crypto must admit, the whales' power has a big role in the crypto ecosystem. The whales can lead the price to have a pump or a dump in a certain time. They take advantage of this scheme.This is the reality that happens in the crypto world, for whales who have very large amounts of capital can manipulate prices in the market. People who
have been in the crypto world for a long time should be aware that whales will use their advantages to generate the maximum profit. Not only
Dogecoin is often used by whales to pump and dump, but like other top altcoins it is also the same. So I don't agree that what happened to Dogecoin
was a ponzi scheme, we do have to realize that Dogecoin is often a pump and dump that can not be separated from whales who often use it to generate
profits if there is a chance. So we ourselves have to be more careful in making decisions, do the analysis correctly, so know when it's right time to enter
and exit. Don't buy Dogecoin if we are afraid of being played by the whales. Because whales often do pump and dump on meme coins which do not
have a clear function, choose investments in top altcoins that are less likely to pump and dump.
This article is very long.
https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
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investing in coin memes is a very high risk...https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
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dogecoin wouldn't be worth it without a tweet from elon musk. many are stuck because they bought Dogecoin when it was bullish a few months ago, don't take the risk to invest in Dogecoin.
Absolutely agree, its like a ponzi mechanism with many whales among ecosystem that ready to take profit when the price pump.
If you mean the price of Dogecoin is increasing because of the factors of manipulation made by whales, even top altcoins also have the same way. So, I am not sure to say it is a Ponzi scheme, it is different. I think it is a fact that all people involved in crypto must admit, the whales' power has a big role in the crypto ecosystem. The whales can lead the price to have a pump or a dump in a certain time. They take advantage of this scheme.Jump to: