I've been very compelled to briefly give my opinions on what I've seen to be reckless mindsets and outlandish price targets for Dogecoin. People taking out 100x margin trading on Dogecoin, moving huge savings to get in on the pump, Dogecoin overtaking Bitcoin, Dogecoin going to $10.00, and ect... The Dogecoin pump is spillover from reddit forum "Wallstreetbets". This pumps origins come from Elon Musk, Reddit, current social & political conditions, and Wallstreetbets.
I'm a passionate believer of Dogecoin as it's another oscillator cryptocurrency and one of the most tenured as well. With that being said I will be the first to claim that I don't believe Dogecoin will hit $1.00 by next month nor will it go to $10.00 Nor will it overtake Bitcoin for the number 1 store of value and cryptocurrency. Before the Dogecoin pump the coin was trading at $0.008 cents less than a penny, in order to get to a dollar we would need over a 10,000% pump.
In order for Dogecoin to hit $1.00 we need another 1700% increase in from these current trading levels at around $0.05 cents. Dogecoin's current market capitalization is around $7,194,356,991. If we add another %1700 increase we would need to be at roughly $119,000,000,000 market cap to see a $1.00 Dogecoin. Is it possible? Anything is possible in cryptocurrency. I personally just don't see this as a realistic price target anytime soon based off the fact that Dogecoin would need about another 100 Billion dollars in liquidity just in Dogecoin to reach $1.00.
For a $10.00 Dogecoin we would need to be at over a 1 trillion dollar market market cap in Doge which I definitely don't see as realistic.
For people reading all I'm trying to say is just be very careful investing within the midst of this kind of pump. Many people fear missing out, buy at the top, and sell at the bottom all the time. New investors are most vulnerable to this. Dogecoin is on the already on the moon. At this point Dogecoin is beyond any technical or fundamental analysis.
Pumps like these bring out a very emotional side of humans and increase our emotions of greed and fear. Most people are buying Dogecoin with the aspiration of it hitting $1 soon. Be smart and be cautious.
Much love and peace! Happy trading, hodling, and investing. Cheers!
I'm a passionate believer of Dogecoin as it's another oscillator cryptocurrency and one of the most tenured as well. With that being said I will be the first to claim that I don't believe Dogecoin will hit $1.00 by next month nor will it go to $10.00 Nor will it overtake Bitcoin for the number 1 store of value and cryptocurrency. Before the Dogecoin pump the coin was trading at $0.008 cents less than a penny, in order to get to a dollar we would need over a 10,000% pump.
In order for Dogecoin to hit $1.00 we need another 1700% increase in from these current trading levels at around $0.05 cents. Dogecoin's current market capitalization is around $7,194,356,991. If we add another %1700 increase we would need to be at roughly $119,000,000,000 market cap to see a $1.00 Dogecoin. Is it possible? Anything is possible in cryptocurrency. I personally just don't see this as a realistic price target anytime soon based off the fact that Dogecoin would need about another 100 Billion dollars in liquidity just in Dogecoin to reach $1.00.
For a $10.00 Dogecoin we would need to be at over a 1 trillion dollar market market cap in Doge which I definitely don't see as realistic.
For people reading all I'm trying to say is just be very careful investing within the midst of this kind of pump. Many people fear missing out, buy at the top, and sell at the bottom all the time. New investors are most vulnerable to this. Dogecoin is on the already on the moon. At this point Dogecoin is beyond any technical or fundamental analysis.
Pumps like these bring out a very emotional side of humans and increase our emotions of greed and fear. Most people are buying Dogecoin with the aspiration of it hitting $1 soon. Be smart and be cautious.
Much love and peace! Happy trading, hodling, and investing. Cheers!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.