Dogecoin makes more money for cryptocurrency investors Since the beginning of this year, products such as Bitcoin and Ethereum have disappeared. However, everything related to this incredible rise of superstars is not all glamour and flashy.
And the “joke” coin Although everything has been proven, it still creates a less interesting situation for mainstream investors in some late-stage games. Anyone expecting to pay $1 per DOGE and buying too close to the highest price may now be a sad puppy, losing more than their favorite bone.
Who is a good boy? DOGE attracts a lot of wealth from mainstream investors
While waiting in line for coffee, I heard two young people under the age of 20 talking loudly.Before ordering their ice latte, one told the other party about his $250 investment in Dogecoin In his pocket turned into a few cool.
These stories are not uncommon for mainstream investors who usually don’t know what they are doing but have heard of memes. coin Be with a cute internet puppy through TikTok.They clicked a purchase on Robinhood or other apps and made a small amount of money for themselves-but it was not enough to catch up Elon Musk, the lead singer of the coin.
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Those who invested in Dogecoin at the beginning of 2021 have funds that far exceed the initial level.Unless they are the latest fanatics to join the fanatical fan base, everyone will always have another side coin.
The good, bad, and ugly of the Dogecoin pump all in one chart | Source: DOGEUSD on TradingView.com
Bad Doggies: Dogecoin prospects were bitten and the rally fell asleep
The picture above shows Technology roller coaster That was the rapid rise of Dogecoin. DOGE has been in tears, soaring nearly 10,000% this year alone.
Anyone who came in before April still has a lot of bones buried back in case of emergency, but those at dinner parties may want Stand up and die.
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The initial correction immediately resulted in a 70% crash. As of now, there has been a huge recovery, and Dogecoin is still down more than 40% from its all-time high.
However, when you compare an adjustment of nearly 40% to 70% with an increase of nearly 10,000%, This dog may have more shedding.
When assets lose their parabolic progress, they tend to correct as much as 80% or more. Historically, in altcoins such as Dogecoin, the situation will get worse, and a full 99% of all-time highs are usually shaved off before completing the next recovery attempt in several years.
Those sucked in that don't understand markets can lose a ton of money | Source: Reddit
This may eventually make investors like dogs stay for a while.take This poor guy For example, he must now tell his wife that DOGE’s appeal to the moon and $1 Dogecoin is definitely worth saving their lives.
The moral of this story is that every dog has his own life, Dogecoin may be over now. If this is the case, then any further gains will be shelved.
Featured image from Pixabay, Charts from TradingView.com