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DogeCoin Seems to be Blowing up

Hands90
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If I bought a bitcoin for $0.06 and sold it today, I would have made $40,000.

Dogecoin seems to be the new exciting coin. It's really cheap and it's being backed by Musk and other celebrities.

Now seems like the time to buy. I might want to buy some. Missed out on GameStop so I don't want to miss this one.

Anyone have an experience with it?

Everyone is freaking out about it online and Reddit.
 
Toishome
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Buying in Dogecoin at the current price is the most dangerous thing you can do with your money IMHO.
Pouring gasoline on your cash and lighting it up on fire might be less risky.
 
asrnj77
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As I understand it there is no limit to the amount that can be mined. I’m not an economist but isn’t the allure of some of these coins (like Bitcoin) that there is only a finite amount that you can get.
 
Dsloan
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It's mostly just a pump and dump scheme, I think. That said, I bought $20 of it a year ago for fun, so it's providing me a lot of entertainment at the moment.
 
Walrus
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Ya screw doge it was a joke coin. Actually I can’t give investment advice I’d just be leery but who nows. I did pick up stellar for a few cents and it’s having a pump. It’s crypto though it’s all over the place
 
snarkq
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Recommend you watch:
. Some rumor it is musk himself. Not sure. Either way, I sold all mine today at a happy profit. Saying it could be the next GME should be reason enough not to get in.
 
Evitzee
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The US Fed and other central banks will not allow these rogue currencies to have free reign in the long term, when the clampdown occurs watch out below.
 
Observer
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It was created as a joke, and there’s no way the joke’s going to be on me. Don’t let it be on you.
 
Hands90
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Toishome Toishome
Buying in Dogecoin at the current price is the most dangerous thing you can do with your money IMHO.
Pouring gasoline on your cash and lighting it up on fire might be less risky.
Actually bought some since I posted and I'm already up. Maybe I should cash out?
 
Walrus
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Hands90 Hands90
Actually bought some since I posted and I'm already up. Maybe I should cash out?
I don’t know apparently snoop dog is now snoop doge sounds like it’s going to the moon
 
Walrus
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So musk and Tesla bought 1.5 billion in bitcoin and will now accept bitcoin as payment for Tesla products. All crypto will get a rise from that.
 
Dogmann
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@Evitzee
Quite right the US Fed and all the other Central Banker crooks won't allow this to go on for much longer after all they are the only ones that are allowed to magically create money out of thin air and create massive debt and interest to both make profit and prop up their asset class bubbles to enrich the 0.01%.

Marc
 
Walrus
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Dogmann Dogmann
@Evitzee
Quite right the US Fed and all the other Central Banker crooks won't allow this to go on for much longer after all they are the only ones that are allowed to magically create money out of thin air and create massive debt and interest to both make profit and prop up their asset class bubbles to enrich the 0.01%.

Marc
I’m surprised it’s going on as long as it did without more regulation. Now etherereum futures will be on the CME this week.
 
Toishome
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Hands90 Hands90
Actually bought some since I posted and I'm already up. Maybe I should cash out?

Not sure if you should cash out or not. Personally I would not invest in a coin unless it has some real utility and its meant to solve an issue.
Dogecoin is not one of them.
 
Walrus
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Btc to 50k this week. I wouldn’t be surprised. Not saying it will hold it but it may hit it
 
Dor_42
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Walrus Walrus
So musk and Tesla bought 1.5 billion in bitcoin and will now accept bitcoin as payment for Tesla products. All crypto will get a rise from that.
I saw the article and headed here to tell OP to buy some Dogecoin!
I mean, don't risk your life savings on it but it has the potential to double whatever is invested in it.
 
Dsloan
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If only I'd bought more doge last year - I'm up like 20x, but only had $20 in it 😒.

The real question is, do I take profits off the table from Bitcoin and Etherium? It was a small part of my portfolio (like ~2-3%), but just keeps growing. Seems like there's a lot of near-term momentum to keep going... But, as others have noted, changes in federal policy could cripple it quickly.
 
Walrus
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Dsloan Dsloan
If only I'd bought more doge last year - I'm up like 20x, but only had $20 in it 😒.

The real question is, do I take profits off the table from Bitcoin and Etherium? It was a small part of my portfolio (like ~2-3%), but just keeps growing. Seems like there's a lot of near-term momentum to keep going... But, as others have noted, changes in federal policy could cripple it quickly.
Eth futures open on the cme today. I was expecting the whales to crash it but this Tesla news created a bit of a frenzy. I am a little nervous about eth when eth 2.0 goes live. Look at the fees when you sell, might prevent you from doing so, the gas prices are crazy right now.

I do question musks move. So he put 7% of Tesla’s available cash in bitcoin and was tweeting about it probably after he bought it pumping up the price? Is the SEC going to slap his hand again. How about Tesla stock, it’s up today but Tesla has had numerous cash crunches and here musk is putting 7% of its available cash in such a volatile “vehicle”. Well thus far it’s working out but it’s only been a few hours.
 
pdxleaf
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Same as lottery tickets. "Lotteries should be played as a game and not for investment purposes."

If it excites you and you can afford to spend it (like going out to eat versus taking an international flight) then go for it.

Make sure you spread your earnings around the for sale forum.

Don't go into debt and don't think you are making wise financial decisions. Otherwise, have fun.
 
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