Buy The Rumor, Sell The News?
The more time passes, the harder it is to avoid hearing or reading about Doge. I've never thought I would do a post about Dogecoin but here I am, this post is all about Doge, from the beginning to the end :)
For me, Dogecoin is like a soap opera, a very bad one that is dragged and dragged and never ends. A soap opera in which the main character is always so close to being happy, but somehow never gets there as there's always something tragic happening in his/her life.
When the hype started, I decided to stay away from it as I could not see any reason to invest in it. For me it was a joke and still is.
This weekend was a special one in Doge's life as I think Friday was the day when the new God called Elon Musk was expected to appear in some show and people were expecting a miracle to happen. Doge to the moon, remember these words? Of course you do as there are everywhere.
Now let's see what's happened.
This is the chart screenshot made at the time of writing. A big red candle! It looks like Doge can't find its way to the moon.
This was a tweet from Michaël van de Poppe to the follower, sent out before the event. I don't know how many have listened to his words, there are a bunch of comments under his tweet but I'm not going to waste time reading them.
And this was his tweet after the event. The chart confirms what he was saying after the event.
And yet, if you look at the market cap, Doge is fourth. Why? Because people buy Doge. Why? Because they believe it's going to moon. Why? Because Elon Musk is talking about it (sometimes).
Asked 'what is dogecoin', Musk replied, "It's the future of currency. It's an unstoppable financial vehicle that’s going to take over the world."
When a show cast member Michael Che countered, "So, it's a hustle?", Musk replied, "Yeah, it's a hustle," and laughed. source
I'd love to know how many have lost their money buying the green and selling the red. I know quite many are shorting Doge and one made enough money yesterday to buy a new car. The guy is a millionaire, so don't think of a cheap car.
Anyone who wants to play the Elon Musk game should be prepared to lose all their money. source
I bet Elon Musk is looking at the chart and laughing every time he sees how the market reacts to what he says. He's manipulating the masses or the masses are letting themself manipulated is a better word. I fully agree with the above quoted statement. People who are playing Elon's game, should know what's possible.
As far as I'm concerned, there are so many opportunities to earn, safe opportunities, I see no reason to play Russian roulette with Doge, but I'm keeping an eye on it to see where this madness goes.
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