Doge is a cool meme but currently a SCAM

I agree that where exchanges are closed or restricted that absolutely has an impact on buy and sell activity. Pump and dumps are based on momentum. They have a rapid rise then rapid crash. You may get a second pump on whatever day next week that things become unrestricted but it will crash again. Like you, a lot of people are holding on right now because they believe with robin hood trading openly then there will be a surge of demand. The price possibly would have already crashed much further if it wasn’t for that hope. The problem is that as soon as it starts crashing again if there’s a second pump there won’t be the promise of we can get some more demand in the future and it will crash even harder. When the coin has very low fundamental value (by design) and no short squeeze to force buyers then eventually it crashes and plateaus.

If you believe in doge then great, I’d love to see it do well. I’ve seen enough crypto pump and dumps to be convicted this is one and I hope people who choose to partake don’t put in more than they are comfortable loosing as there is a solid change doge goes back to it’s pretty-pump price from a week ago. We’ll know in a months time either way.

/r/dogecoin Thread Parent