The FOMO is very strong right now.
As someone who lived through FOMO 2 previous time(huge spike in BTC price from MTGOT back in the day, 2018) I can tell you that I easily could have sold some of the coins I had at the top and have a few hundred K USD. I didn't do it because FOMO.
3rd time around I have been selling some things on the way up. These crazy prices won't last forever.
Dogecoin went up to 42 cents today briefly. A lot of people are going to lose a lot of money when the dust settles on some of these coins. It remains to be seen WHEN(SOON TM) that will happen. How much more buy pressure can there be on a memecoin you might ask? When will buy pressure let off and people sell to take their profits?
EVERYONE CANNOT make profit from selling. The key factor most people don't realize is that if everyone sells the price crashes big and a lot of people lose big.
The people who bought Doge Coin years ago for .001 USD are very happy and probably sold on the way up. For people who are millionaires right now you probably should sell(this is not financial advice). Risking a huge crash on a volatile meme coin because you want to go to the moon is a really bad mindset to have.
The people who bought on the way up are the ones who get dumped on by the people who bought before them. You starting to pick up what I am laying down here? People buying in at 42 cents which was the peak are only going to be able to make profit if some other people buy in and make the price go higher, extend this infintely. Not everyone can profit because at some point there isn't enough people willing to buy at a higher and higher price.
When Crash??? SOON(TM)!!! Idk, nobody knows. Probably tomorrow, probably NOW! Let's see!
Cult of personality dumbasses (if Musk is into it, it must be great!). No crash for a while according to @edicted. I don't think it's soon. but ya never know when people will want to sell off. If cycles matter, then it won't be until September.
I just like saying SOON TM a lot now lol.
My theory on crypto prices going so high is the covid19 payouts people are getting. For the hundreds of millions who still have jobs AND get bonus covid paychecks every 2 weeks, why not chuck it into crypto?
To me it makes the most sense. I have seen Gamestop stock and AMC and Blackberry and all these other shitstocks moon because of reddit people using their COVID bucks. Seems to me when covid starts to die down so will crypto.
Lol I am already downvote any post about DOGE on Hive so we will see where that goes.
This is financial advice...
If you are holding dogecoin sell that crap today!
I have always wondered why no one says that their financial advice is, in fact, financial advice.
But then, I've heard that people in the United States live suing everybody....
I've heard that people in the United States are scared to state any opinion is case it is offensive...
That's the reason lol.
Saying this is not financial advice is a cop out - anything posted about finance is financial advice!
This is the only post about DOGE I didn't downvote 100% today...
Good logic, and FUCK THAT STUPID MEMECOIN.
I did loose money on it, never had owned and never wanted to hear about it for the last 10 years.
Hehe. I try to be a realist on these things. I've in crypto space since 2013 and didn't make almost fuck all money for it. I'm into it for the science and system stuff. Too nerdy to make much money lol.
Blackcoin is what really drew my interest in 2014, when the spark went of in my mind you could say.