Dogecoin: Who’s In?

CalPolyTechnique

Well-Known Member
Messages
27,233
Reaction score
43,941
Bought $1K worth of shares on Friday on lark. Saw it jump 20% before the day’s end. Hoping it pops to $1.00 on the strength of Elon Musk’s SNL appearance tonight.

Anybody else in the game?
 

Reality

Staff member
Messages
30,478
Reaction score
69,399
CowboysZone ULTIMATE Fan
Bought $1K worth of shares on Friday on lark. Saw it jump 20% before the day’s end. Hoping it pops to $1.00 on the strength of Elon Musk’s SNL appearance tonight.

Anybody else in the game?
The media has had this wrong the whole time. They keep giving Elon Musk's tweets the credit for the surges but the surges happened each time a new exchange or investment platform added support.

Go back and look and you will see WeBull added support, it spiked. eToro added support, it spiked. Gemini added support, it spiked.

i think the SNL boost for Elon has already happened as people bought this week in anticipation of some miracle happen the moment he mentions the name, "dogecoin", but you will see a lot of people sell before that happens today and likely a bunch of disappointed newbies will jump ship after the show ends if it drops even a little.

The best thing about Elon Musk hosting SNL and mentioning dogecoin will be if more celebrities get on board with promoting it via social media to their followers. If that happens, then it may hold steady or increase.

I am not down on dogecoin by any means, but people should be a little more realistic about it and the media, including the stock market media, should do more homework and not just regurgitate the "it's all because of Elon Musk tweets" theory when it was crypto exchanges and investment platforms adding support for it which opened it to millions of new buyers and traders instantly that really caused it to go up.

Its been really entertaining though to listen to the deep-investors of bitcoin and ethereum constantly tell people, "Dogecoin is a joke! It's all speculation based!" when that's exactly what bitcoin and ethereum are at this point.
 

Reality

Staff member
Messages
30,478
Reaction score
69,399
CowboysZone ULTIMATE Fan
I posted these a few days ago in the crypto currency thread ..







 

Crazed Liotta Eyes

Well-Known Member
Messages
2,290
Reaction score
5,267
The media has had this wrong the whole time. They keep giving Elon Musk's tweets the credit for the surges but the surges happened each time a new exchange or investment platform added support.

Go back and look and you will see WeBull added support, it spiked. eToro added support, it spiked. Gemini added support, it spiked.

i think the SNL boost for Elon has already happened as people bought this week in anticipation of some miracle happen the moment he mentions the name, "dogecoin", but you will see a lot of people sell before that happens today and likely a bunch of disappointed newbies will jump ship after the show ends if it drops even a little.

The best thing about Elon Musk hosting SNL and mentioning dogecoin will be if more celebrities get on board with promoting it via social media to their followers. If that happens, then it may hold steady or increase.

I am not down on dogecoin by any means, but people should be a little more realistic about it and the media, including the stock market media, should do more homework and not just regurgitate the "it's all because of Elon Musk tweets" theory when it was crypto exchanges and investment platforms adding support for it which opened it to millions of new buyers and traders instantly that really caused it to go up.

Its been really entertaining to listen to the deep-investors of bitcoin and ethereum constantly tell people, "Dogecoin is a joke! It's all speculation based!" when that's exactly what bitcoin and ethereum are at this point.
I need to read this when I'm more sober. Not likely any time soon unfortunately.
 

CATCH17

1st Round Pick
Messages
66,922
Reaction score
84,277
I’m going to buy some after the big sell off that should be happening soon. I’m not going to get much though.


The coin I want is XRP but it’s almost impossible to buy.
 

Reality

Staff member
Messages
30,478
Reaction score
69,399
CowboysZone ULTIMATE Fan
I’m going to buy some after the big sell off that should be happening soon. I’m not going to get much though.


The coin I want is XRP but it’s almost impossible to buy.
It may have already bottomed out.

It dropped down to around $0.40 since SNL aired but is back up to $0.50 right now.

I agree with @DFWJC though, as long as you are only investing with money you can afford to lose, it does not matter.

Dogecoin has a huge following and as they say all the time, "you only lose money if you sell" :D
 

CATCH17

1st Round Pick
Messages
66,922
Reaction score
84,277
It may have already bottomed out.

It dropped down to around $0.40 since SNL aired but is back up to $0.50 right now.

I agree with @DFWJC though, as long as you are only investing with money you can afford to lose, it does not matter.

Dogecoin has a huge following and as they say all the time, "you only lose money if you sell" :D


Think so?

I bet it comes back down to low 30 or high 20s soon.

Anyways I’m not going to put more than 100 dollars on it.. More of me just buying it and forgetting about it for awhile to see what it could do long term. Not ride the highs and lows of trying to sell.

Maybe in the future 1 coin is worth 50 bucks or something.. Who knows. It will be fun to find out.



You guys ever see the story about the guy who wanted some Pizza and was willing to pay in Bitcoin?

He bought 2 pizzas for 10k Bitcoin.. It was worth 40 bucks at the time. His 2 pizzas ended costing him about 100 million dollars lol.
 

Reality

Staff member
Messages
30,478
Reaction score
69,399
CowboysZone ULTIMATE Fan
Think so?

I bet it comes back down to low 30 or high 20s soon.

Anyways I’m not going to put more than 100 dollars on it.. More of me just buying it and forgetting about it for awhile to see what it could do long term. Not ride the highs and lows of trying to sell.

Maybe in the future 1 coin is worth 50 bucks or something.. Who knows. It will be fun to find out.



You guys ever see the story about the guy who wanted some Pizza and was willing to pay in Bitcoin?

He bought 2 pizzas for 10k Bitcoin.. It was worth 40 bucks at the time. His 2 pizzas ended costing him about 100 million dollars lol.
All crypto is risky because it is all speculation-based, even the ones that promise additional functionality in the future like distributed computing resources.

That said, if you only invest money you can afford to lose (ex: gambling money), then I say enjoy the ride :D
 

CATCH17

1st Round Pick
Messages
66,922
Reaction score
84,277
All crypto is risky because it is all speculation-based, even the ones that promise additional functionality in the future like distributed computing resources.

That said, if you only invest money you can afford to lose (ex: gambling money), then I say enjoy the ride :D

With all of this volatility I wish I would’ve gotten more involved. It just YO Yo’s back and forth.

You could easily just get in and get out..
 

Reality

Staff member
Messages
30,478
Reaction score
69,399
CowboysZone ULTIMATE Fan
With all of this volatility I wish I would’ve gotten more involved. It just YO Yo’s back and forth.

You could easily just get in and get out..
Volatility is all relative though to the moment and price when you buy it and when (if) you sell it.

Bitcoin was up near $57,000 a few months ago, then dropped to $45,000, then surpassed $60,000 and then dropped below $50,000 and is now around $57,000.

In all that time, it is right back where it was, yet along the way some people made money and some people lost money. It all depends on when you dive in and when you get out.

A month ago, dogecoin was stable at around $0.06 and now after a 30% dip it dropped to around $0.50 and people are acting like something horrible happened.

Regardless of your strategy, if you buy high and sell low, you will lose money as it has always been.

Investing, whether with stocks or crypto, requires risks and patience.

Never invest what you cannot afford to lose and you never have to panic sell.
 

CATCH17

1st Round Pick
Messages
66,922
Reaction score
84,277
Volatility is all relative though to the moment and price when you buy it and when (if) you sell it.

Bitcoin was up near $57,000 a few months ago, then dropped to $45,000, then surpassed $60,000 and then dropped below $50,000 and is now around $57,000.

In all that time, it is right back where it was, yet along the way some people made money and some people lost money. It all depends on when you dive in and when you get out.

A month ago, dogecoin was stable at around $0.06 and now after a 30% dip it dropped to around $0.50 and people are acting like something horrible happened.

Regardless of your strategy, if you buy high and sell low, you will lose money as it has always been.

Investing, whether with stocks or crypto, requires risks and patience.

Never invest what you cannot afford to lose and you never have to panic sell.

Yeah..

S&P 500 is really the way but there is no fun in that haha.
 

Creeper

Well-Known Member
Messages
13,829
Reaction score
17,537
All crypto is risky because it is all speculation-based, even the ones that promise additional functionality in the future like distributed computing resources.

That said, if you only invest money you can afford to lose (ex: gambling money), then I say enjoy the ride :D

Yes, only invest money you can AFFORD to lose, but this is not the same as investing money you expect to lose. Some people don't discern between the two.
 

CyberB0b

Village Idiot
Messages
12,241
Reaction score
13,482
Yes, only invest money you can AFFORD to lose, but this is not the same as investing money you expect to lose. Some people don't discern between the two.

There's also a huge difference in an investment and speculation.
 
Top