Doge Bull Run is gone..

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I have heard a lot about Dogecoin and Elon Musk for the last few days. In fact in the crypto space, this was one of the hottest news for the last couple of days and the majority of the community was talking about this coin which has no fundamentals behind it.

We know that there is no real use case of this coin but because of the hype people have got more attention to it and that is why prices also started increasing. the only reason that I know so far is Elon Musk behind it.

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I did some search about Dogecoin on google and this is what I found that defines the project behind it.

Dogecoin is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system that is free from traditional banking fees. Dogecoin features the face of the Shiba Inu dog from the "Doge" meme as its logo and namesake.

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Earlier this coin was rarely listed on any India exchange but after the hype, it got listed in all leading exchanges, and certainly, it has given good profit to so many holders who purchased the coin earlier when the value was quite less.

I never invested in this coin because I never thought that it's worthy but when I noticed, its price was quite higher. I am not much active on Twitter and other social media and that's why did not get to know about the hype.

It came to my attention when I saw many posts about it here on Hive. There is no reason to invest in this coin if I go to fundamental or technical analysis but the only reason I find to invest is based on news and I usually avoid putting my money on such coins because it's highly risky. I'm not saying that it could not be profitable because I have seen so many people who have made a good amount of money but in my personal opinion I try to stay away from such projects and I'm happy not to earn anything. I simply follow one way to invest in a strong project and hold it for a long so that there is the least possibility of losing money.

Here is a graph in USD and you can how it's falling down. Those who have made the good money must be happy but still, there would be many who might have faced a huge loss.

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I can't say that I will be investing in it even when it will be around 10 cents because I don't see it as a strong project so it's better to stay away than putting money on the risky side.

Have you invested in this coin or not? Share your thoughts.


Thank you.

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10 comments
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I see doge as a joke as I no real value beneath it. Wouldn't put my money on it as it highly risky


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I agree and that's why I did not invest too. Its better to stay away from such coins.

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I can't wait to see doge going back to $0.02.
The place where it belongs

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Doge is a coin with no fundamental value so there is a high possibility that its price will fall down soon.

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I think this recent Doge pump is because Elon Musk was hosting Saturday Night Live, a popular comedy show, last night. It was a rumor that he was going to mention Doge, and some people invest based on the rule "Buy the rumor, sell the news".

Well as soon as the show went Live last night, the rumor was true and now it became news, so many people sold. Elon mentioned Doge and "digital money" in 3 parts of the show.

I think it will bring more people into crypto and maybe Doge too, but there are so many other crypto projects to invest in, so its good to have a plan and follow it. Invest the way you are comfortable to invest, and with a little luck, and willingness to HODL for a while, hopefully you will enjoy a nice profit!

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certainly, the Doge pump is because of Elon Musk, and he also announced to use it for SpaceX. I did not watch Saturday Night Live but there was so much hype about it and that's why Doge got more value. Now its price is quite down but you never know when it gets a pump again because its use case is added with SpaceX.

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