This is incredible! Its also fuckin bad for Crypto, here is why: Elon pumping DOGE memes is funny, but how many morons are going to be putting their life savings into DOGE here in the 20c-40c range? With 10,000 new DOGE being minted every minute of the day, and no cap on the total coins to be created, DOGE is the worst possible Crypto to be holding over the long run. I know its ironic seeing that its the biggest performer, but all these billionaires joking about DOGE are doing more damage than good.
I have two friends obsessed with it right now. I've never heard them talk about anything market related until gamestop.
Same. So many new arrivals holding nothing but GME, AMC and DOGE as diversification. But fuck me, they are doing better than anybody holding a balanced fund atm
Welcome to the new generation. We said the same about BTC,ETH,LTC,XRP " my 4 holds" for years. A lot people lost faith in the markets, crypto is 24/7. Like it or not its now part of the indexes, 2 months ago I was saying its a joke.
Not to derail from doge, but on topic...... i read that coinbase will be offering stock tokens and tsla is first up. my understanding is a token is 1/100th of a share. Basically trading fractional shares. But i have to draw a conclusion that said tokens will be tradable 24/7. So that will add another level of futures trading me thinks. Between market close on friday, the announcement of xyz company news friday afternoon. I can see stock tokens being a new vehicle to get shares before monday. But if shares arent trading, the token value must be speculative between closed hrs? Or maybe you cant trade tokens when market is closed?
The Wall Street Journal has a great behind the scenes/bio article on the founder of FTX in this weekend edition. In it: "For instance, FTX was the first major crypto exchange to offer tokenized stocks—digital coins that track the value of shares of companies like Tesla, GameStop Corp. or BioNTech SE. It also offers a popular spinoff product called pre-IPO contracts, which let overseas traders bet on the expected valuations of companies like Robinhood. (...) Unlike normal stocks, tokenized stocks trade around the clock, whether or not U.S. exchanges are open, and they can be accessed by investors world-wide." I haven't looked into it further but if you want to do some digging on how prices work outside of trading hours, FTX might be a good place to start. Do report back here if you find out something. I'm curious too.
Defi is going to be a fascinating industry. If you lived in some country where the broker made it hard to trade US stocks, Defi offering tokenized stocks is a game changer.
It is a joke and the only reason it ran this year is because Elon thought it was funny. 14,000 new coins being printed every minute of every day, there is no long term viability here.
lol like McAffee some years ago....Damn I'm sure Elon is making big bucks right now promoting such meme coin
I saw some video saying that the amount of coin inflation is still deflationary by dilution. As more coins print, total coins increase, thereby deflating the inflation rate. There were some comments that elon responded to or thumbs up, that made a case for it mathematically actually having value. Idk how much of anything, that means. But i got a small amount at .065 so ill eat my popcorn and watch.
I saw it posted on FB by someone today "everyone buy $100 worth of dogecoin at 6am on 4/20". Also heard some of my gaming friends who recently got into the GME fiasco and DOGE talking about how it was going to be pumped on 4/20
Dogecoin is like Beanie Babies. Sometimes a social fad comes along that just pops and excites people and it's ridiculous in every way. It was like "The Tickle Me Elmo" dolls, 1990's Comic Books, or even a non-material event like the psychological phenomenon of "Summer of the Shark". It's all the same behavior on the same spectrum. I'm not in for making long-term Doge predictions, but my real hope for the coin is nothing more than that it serves as a gateway to bring more people into crypto who might "level up" their knowledge and move into real coin investing.
No doubt. I was in it for a trade and to add to my primary 4. It was only a lotto ticket for me. I gambled,I won,Im out.
heh, I LOVE it! I did something similar but it was during one of those earlier Reddit pumps in early Feb. I came out modestly ahead, and of course now I wish I held onto what was then 12,000 tokens, but it's fine. I exited then. Maybe in a year those 12k tokens would be huge money, but DOGE isn't part of my plan. Maybe I'll pick up a small basket for fun and let it reside again. Probably not.
It was supposed to hit the anticipated .420 on 4/20. It accomplished that goal. The buzz wore off and profits were bagged.
