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DOGEBTC trade ideas

Sell DOGE/BTCMy Twitter feed has been filled with doge things the past weeks and I've been here long enough that I think I'm getting pretty good at countertrading my feelings and distinguishing euforia when I see it in the markets. I am pretty confident, like atleast 95% confident that doge/btc will trade sometime this year or in 2022 below 100 sats, and probably 50 sats when the next bear market hits. I'm not encouraging you to short doge/usd by any means, that can lead to a disaster, because if btc is going to 300k, there is nothing stopping doge from going higher in usd terms. That said, the btc pair is sitting at a monthly RSI of 96 and the usd pairs monthly RSI is a stupid 99.69, which is the highest I've ever seen anywhere, it looks surreal, as if the RSI line is flatlining at 100, go and check it out for yourselves xd. Tonight Elon Musk is going to co-host SNL and maybe talk about doge on air. I think this could end up being a sell the news type of event. On the other hand I saw rumors on twitter that Elon could own 1/3 of all doge and roughly 100k btc and the thread had some pretty solid arguments. The meme is doge to 1$ and I would love to see it but I really can't see how doge could rise much more in btc terms, I mean just look at doges market cap. Plus if btc finally starts climbing aggressively again this summer as I expect, that will also send doge/btc downwards. Well where and how to short doge/btc? I've not been able to find out personally, tried to do it on binance but they only have dogeusdt futures which I shorted at 72c and took profit at 66c just a while ago. But as I said I don't want to short doge/usd but doge/btc. FTX has a 3x dogebear2021 erc20 token which should rise when the price of doge falls, Barry Silbert tweeted about it and it coul bee quite good R:R, you can't get liqudated, one contract is like 180$ and if doge crashes it could rise to thousands, but the contract seems sketchy and has very low liqudity. Would love to hear more about it if some of you know anything about it. And does anybody know how/where I could short doge/btc? TLDR; short doge/btc if you can find it somewhere, I havn't been able to. If you know how, please comment!
Short
by LynxBTC
1
DOGE might already peaked DOGE from a technical perspective - not a greedy one - already hit the fibs targets also has a TD9 candle indicating a top We can see in the first window with BTC pair, is now sitting on a support area made by the previous candle.. Greed is a dangerous mind-set As long as the herd thinks is going to moon with no pullbacks - whales will dump Sometimes is good to be a contrarian. Just my thoughts. Money from doge may go to small alts now Not financial advise D Y O R
Short
by blackriver85
2
Paying 1200+ sats for 1 doge is not value for money.Dogecoin was a meme created to make fun of the rest of the altcoin space. If you look under the hood you'll see why. It's not secure, it hasn't scaled and it's unlikely to become the base of a new decentralised economy. It's a fun novelty token that there will always be more of. There is no believable way to cap the issuance of doge, which means paying 1200 scarce and finite sats per doge doesn't make sense (there will only ever be 2100 trillion sats). It currently has a market cap of nearly $90 billion compared to Bitcoin's $1025 billion, making it almost 1/10 the size of Bitcoin. Two research questions worth exploring to understand doge vs Bitcoin are (1) who controls consensus and what's stopping them from changing monetary policy and (2) what incentivises and distributes security (why is it that dogecoin relies on merged mining with litecoin). Doge was initially succesful because it helped people understand and play around with cryptocurrency. However it has fallen very far behind and is genuinely much harder to use than Bitcoin. Simple stuff like running a node - Off the top of my head I can name atleast 3 operating systems for running a Bitcoin node (umbrel, mynodebtc, raspiblitz), which makes empowering yourself to be your own full Bitcoin node incredibly easy. Then there's the wallets, I've searched through the dogecoin subreddit to find any mention of an easy to use doge wallet and most of the replies are directing people to use an exchange (which reflects the current speculative nature of the doge holders, rather than being actual users). A common saying in Bitcoin is that if it's not your private key then it's not your Bitcoin, the same applies to doge. When it comes to Bitcoin there are so many options with many user friendly and advanced mobile wallets for new users, like breez, blue, green, sideswap etc, that integrate Lightning or Liquid (two examples of Bitcoin scaling solutions). Not to mention all the secure Bitcoin only hardware wallets like coldcard and jade, or privacy enhancing wallets like wasabi or samourai, or the multisig wallets like sparrow or specter. Finally there is a misconception in the market that Bitcoin hasn't scaled - that's just false. Sending a couple sats instantly and cheaply between two people has never been easier. It's significantly faster and cheaper than doge. There is an entire microtransaction economy booming on Bitcoin right now. It doesn't make sense to be betting on dogecoin when it's so overvalued relative to bitcoin. Sure it will probably still retain some USD value going into the future, it might even continue to go up in USD terms. However when it comes to sats, doge is incredibly overvalued.
Short
by jamesviggy