The question remains was this show promoted to kill the rise of Dogecoin?
My answer is definitely yes after watching this!
They let Elon promote crypto but made sure he called it a "hustle" at the end. The US dollar is a hustle, but simpletons like SNL cast members can't grasp the concept.
Actually, it's going to take until 2025 for the amount of Doge to become more then the amount of federal reserve notes. This leave plenty of time to update Doge and set a cap like you had with Ethereum.
Elon knew exactly what he was doing, he was fishing out the fake doge fans and whales and trying to leave only loyal doge fans. Still holding here since .0333 & .075.
I'm not sure if the "collapse" of the stock market is correct here. There's actually two things going on currently, which makes current times pretty difficult to predict.
Forces that would push a market collapse. You have Biden administration raising taxes, raising minimum wage and increasing unemployment. The effects of which is showing up in the latest job reports. Unemployment means people spend less, companies sell less, and earnings report become worse in outlook.
Currency devaluation. The Biden administration is printing money like crazy and holding key interest rates low. This will increase loans, cause the currency to devalue, and trigger inflation. The amount of money they are printing is insanely high and could trigger a hyperinflation. If you look at the example of Venezuela, which had a currency collapse, the country kept printing money like crazy driving up the prices of goods. If only this happened, the stock market would experience a melt-up.
With both items 1 and 2, I think what you'll see is domestic companies tank and multinational companies melt-up. Crypto, gold, silver, and hard assets would also see a jump in price.
The easiest way to gauge inflation is to look at the cost of your grocery bill, and an earlier indicator is cost of rent and housing prices.
Disclaimer: this is not financial advice, and I am not making any recommendations. I am biased about how shitty Biden's policies are.
Legend has it that he is good friends with Ryan Cohen, soon to be appointed chairman of gamestop.
Apparently doge was being used as a pump and dump by hedgefunds to prevent margin call, as once the short squeeze hits the entire stock market will collapse.
Do you have any idea of how big "the entire stock market" is in relation to the entire crypto space, not alone Doge in particular, or the valuation of a second-tier hedge-fund? You're talking about fleas and dogs and brontosaurs.
"once the short squeeze hits the entire stock market will collapse."
That's not what stock prices do in a short-squeeze.
Exactly! I bought $1000 when it was at .21 cents and sold my doge when my $1000 was worth $3714. It’s a game of dips and I treat it as just that. Never use money you can’t afford to lose either. I’ve had lots of fun with crypto over this past couple years as long as I don’t get greedy and play it like it’s a game.
Yeah short term capital gains is high but long term capital gains is much lower. I play the pump and dump game a little but my long term holding is in Bitcoin.
Good question by the writer of this article:
The question remains was this show promoted to kill the rise of Dogecoin?
My answer is definitely yes after watching this! They let Elon promote crypto but made sure he called it a "hustle" at the end. The US dollar is a hustle, but simpletons like SNL cast members can't grasp the concept.
Dogecoin is a hustle. He is trolling by promoting it. Normies eat it up and pump the price. They don't get that Doge was created as a joke.
Yep. It's a fiat crypto with no cap. Mining-rigs go brrrr. (There are lots of cheap, even free, coins without this limitation.)
Actually, it's going to take until 2025 for the amount of Doge to become more then the amount of federal reserve notes. This leave plenty of time to update Doge and set a cap like you had with Ethereum.
"This leave plenty of time to update Doge" -- Sure, and they could include an ounce of real gold with each one they sell!
Anybody can fantasize anything, but there's no indication that those running Doge have or will have any intention of capping it.
Well I mean the biden supporters are all for hustles so maybe it was to get them to buy in haha
Kek!
I watched it plummet. The idea of selling never even crossed my mind… it’ll come back and go higher still.TO THE MOON!!
Elon knew exactly what he was doing, he was fishing out the fake doge fans and whales and trying to leave only loyal doge fans. Still holding here since .0333 & .075.
What purpose wouod Elon musk have to tank dogecoin?
I'm not sure if the "collapse" of the stock market is correct here. There's actually two things going on currently, which makes current times pretty difficult to predict.
Forces that would push a market collapse. You have Biden administration raising taxes, raising minimum wage and increasing unemployment. The effects of which is showing up in the latest job reports. Unemployment means people spend less, companies sell less, and earnings report become worse in outlook.
Currency devaluation. The Biden administration is printing money like crazy and holding key interest rates low. This will increase loans, cause the currency to devalue, and trigger inflation. The amount of money they are printing is insanely high and could trigger a hyperinflation. If you look at the example of Venezuela, which had a currency collapse, the country kept printing money like crazy driving up the prices of goods. If only this happened, the stock market would experience a melt-up.
With both items 1 and 2, I think what you'll see is domestic companies tank and multinational companies melt-up. Crypto, gold, silver, and hard assets would also see a jump in price.
The easiest way to gauge inflation is to look at the cost of your grocery bill, and an earlier indicator is cost of rent and housing prices.
Disclaimer: this is not financial advice, and I am not making any recommendations. I am biased about how shitty Biden's policies are.
Legend has it that he is good friends with Ryan Cohen, soon to be appointed chairman of gamestop.
Apparently doge was being used as a pump and dump by hedgefunds to prevent margin call, as once the short squeeze hits the entire stock market will collapse.
Musk is helping
Do you have any idea of how big "the entire stock market" is in relation to the entire crypto space, not alone Doge in particular, or the valuation of a second-tier hedge-fund? You're talking about fleas and dogs and brontosaurs.
"once the short squeeze hits the entire stock market will collapse."
That's not what stock prices do in a short-squeeze.
exotic derivatives plus hyper leverage can lead to extreme outcomes
FreeMason
He might have realized that many teenagers were yoloing in all of their money because Musk had been saying positive things about Dogecoin.
Dogecoin is just a memecoin and its rise was just a pump and dump scheme. Hopefully this brings some rationality to the Doge crowd.
Hopefully they cash out and buy into SNDL, OGI, CLABF, etc.
Anyone with a brain knew that the dogecoin bubble would burst with his appearance. You always sell during big events like this
Exactly! I bought $1000 when it was at .21 cents and sold my doge when my $1000 was worth $3714. It’s a game of dips and I treat it as just that. Never use money you can’t afford to lose either. I’ve had lots of fun with crypto over this past couple years as long as I don’t get greedy and play it like it’s a game.
Yeah short term capital gains is high but long term capital gains is much lower. I play the pump and dump game a little but my long term holding is in Bitcoin.
Is it pronounced "doggie-coin"?