I'm sure some of us are kicking ourselves in the butt when you think back a few months ago and sold your doge you mined or bought at $0.001 for $0.07 but those gains are seriously huge and at the time I'd have to say it was a start choice. I only sold a fraction of mine as it's still a crypto I'd like to hold some of.
That being said this morning Doge hit $0.43 and again I simply couldn't pass up the opportunity and I sold off more of it this time a larger chunk. $0.001 to $0.43 I can't even do the math on that but those gains are freakin mind blowing.
At the time of writing this we are already down a bit to $0.38
I write about it today for two reasons...
1 ) Dogecoin is a clear example of HYPE and the power of hype and influencers combined. It shows the power of how old marketing tactics are dead and how influencer marketing is critical to any platforms success. You could build the most beautiful, fastest, low/no fee system but unless their is influencer marketing behind it not much is going to happen.
I say this as it's critically what we need happening here on Hive and to an extent I've been working on onboarding influencers on to Hive. In fact one of them just recently sold her first NFT here on Hive for a cool $1,000. Now that's pretty dang powerful stuff right there and helps gain the platform some new exposure.
You can see that post here
https://hive.blog/hive-156509/@gubbatv/just-sold-my-first-nft-ever-on-hive-nftshowroom
2 ) Euphoria - Some of these market conditions throw all common sense right out the window. But does that mean it's wrong? Hell no! We saw the biggest clear example of this ever in Gamestop within the stock market and we are seeing that now move into crypto markets.
These markets don't play by the books anymore. They play by hype and speculation but when it comes down to it is that not what Fiat money is or crypto?
You see nothing really has "Value" to it until the sale is made. Unless someone is willing to exchange a product, service or whatever in exchange for that Fiat or Crypto it's in essence worthless. It's speculation every time you make a trade.
The reason I bring up Gamestop is because of this chart here.
This in all accounts was a dead stock and a compnay quickly moving towards going bankrupt. But myself and I'm sure many of you remember the days when we would camp out in front of the gamestop to get our hands on that first popular new release and go home and play it for hours with our friends. Gamestop holds those good memories. While yes they give you shit for your trade ins which sparks a lot of jokes and memes lol
It simply goes to show you that if people believe in it and enough influence is around it a stock or a crypto currency can rally to all new highs and remain at the higher peg.
The question still remains will we see a $1 dogecoin?
I didn't think so before I admit it. However now I think yes. With the amount of money that was injected into cryptocurrency Dogecoins market cap does not have all that much further to go. There's a lot of people that believe and want $1 dogecoin and that influence seems like eventually it will be enough to make it happen. That marketcap value will be roughly $130,000,000,000 and put it in 3rd place on the overall market caps of all currency cryptos.
With enough push what I think will send this over the edge quickly to $1 Dogecoin is if Coinbase onboards it as one of their cryptocurrencies you can buy. I firmly believe that will be one of the major pushes in the next few days.
Posted Using LeoFinance Beta