The story of Dogecoin is not hidden. Since Elon Musk has softly adopted the Dogecoin (referred himself as Dogefather), it is one of the most talked-about coins.
A meme coin turning into a serious business and where is it going to take its investors are still being debated and discussed.
It is interesting to see that everyone is talking about Doge and willing to take it to the moon! Doge now has an own anthem 😉. If you haven’t seen it yet, you can still watch it here...and do drop a note in the comment box.[
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For me, the funniest thing is that I never invested in cryptos before and one of the first coins I invested in was Doge… and seriously when it was only a meme and much before Elon started talking about it. So, I have been following this rollercoaster ride with Doge, since the time I invested and I am still holding it.
When I invested in Doge, there wasn’t any action happening, so I slept over it for a very long time as there wasn’t any action happening.
Suddenly one day people started talking about it, I wondered what happened….Yeah. You guessed it right. It was the first Tweet (below) by Elon Musk (in 2020) about Doge. Since then, people have been talking about it and the coin has been on the news, and the investors on the roller-coaster ride with Doge!
“One word: Doge
Before this tweet, Elon has been talking about Bitcoin and kind of favored it.
He then did a related series of tweets. An interesting tweet (below) on Christmas. Unexpectedly, Doge didn’t rise much during Christmas but peaked really hard post the season.
The real Surge in Doge happened when in early 2021, when Doge went up over 800%, at $0.07, in 24 hours, as a result of attention from Reddit users, partially encouraged by Elon Musk. Doge again hit $0.08 post tweets from Musk and other influencers in Feb 2021.
Elon Musk did a series of encouraging tweets and even bought Doge coins for his toddler. These tweets created a lot of curiosity among people and many started investing in Doge… I too held my coins for a very long time.
Elon continued his series of Tweets. When he talked about market correction and hyper normalization, there was a panic in the market, and a lot of people did panic selling the coin.
When in March 2021, Mark Cuban announced Dallas Mavericks, his NBA team would allow purchasing tickets and products with Doge, the price of Doge started rising.
In April 2021, Doge was directly listed on Coinbase which made it even more popular and Doge’s hit a new high of $0.45 - At the time.
I sold my coins below ATH and bought them again at surge. I am now at a loss as many of you might be and now I am holding it. - Hoping to take it to the Moon.
On May 4, 2021, the value of Doge first surpassed the symbolic hurdle of $0.50. People were expecting a super rise in Doge and many invested in Doge because of Elon’s appearance on Saturday Night Live. However, Doge’s price dropped by 34% by the end of the show. Elon said Doge is a Hustle and he didn’t talk high about Doge in the show.
After the show, on May 9, 2021, SpaceX announced a rideshare mission to the Moon completely funded by Dogecoin, thus becoming the first space mission funded by a cryptocurrency. Elon tweet about the same and again Doge started to rise.
I am not sure, where it is going to take me, but I feel connected with this coin and I am holding it. I know that being emotional in this business is not Okay….and I understand all the advise coming to me.. but I am still holding it!
*This article includes what I understood during the process. It is a structure and I am happy to add information if you feel further insights must add to the Doge Chaos. Please feel free to type in your suggestions and I will be super glad to share and add.
Thank you!
QueenOnline