Today morning when I woke up from my bed to see the crypto markets, I was surprised to see that Doge pumped like more than 800 % and I started reading more to understand what was going on. I found out that it pumped a maximum of 825% in the last 24 hours at the time of writing this article.
This is really a great thing. Unfortunately, I did not have any Doge holding with me. But I remember that Doge was not even worth 1 cent and now surprisingly it is worth more than 7 cents. I don't know how long this rally will continue. I already see a strong resistance where people have started booking profits. But there are still people entering into Doge at this point.
I also saw one of my friends sharing that he made around 75 USD profit by just investing 100 USD and that too within 4 hours time. This is really a great deal for the traders. For people who don't have any emotions when it comes to trading, this can be a great opportunity. Some articles say that the pump wouldn't stop anytime now and it can go for some more time but I'm not sure and I'm skeptical to enter at the current price.
I tried searching for some of my old wallets to see if I had any Doge left with me but it was not there. I remember selling it long back. But the sad thing is when I sold my doge, I'm sure it was not more than 3 cents.
Reason for Doge pump
I was going around everywhere to find out what was causing this pump. Some people say that the recent hype stocks like $GME and $AMC are one of the reasons why Doge is being pushed hard. The other main reason I find here is a FOMO on some of the discord servers where people are continuously talking about this and they are trying really hard to push the price to 1 $. It may not be realistic to imagine the price to hit 1 USD but a false hype can sometimes make it happen.
One of the discord servers had 2700 new joiners in the last 7 minutes. You can look at the number of members in this discord server and the number keeps increasing every single minute.
This is not the only discord channel. I guess there are many discord servers similar to this that is trying to pump Dogecoin. I would personally recommend not falling for these false calls and do the research before entering and even if someone is planning to enter, invest only the money that you are ready to burn.
Share your thoughts in the comments section about the recent pump of Doge.
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This seems a planned pump to me and not at all suggested to enter now. Itf fun watching the prices going up but I can't enter now.
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Yes, indeed it is a planned pump. Very risky to get into it at any point. But I guess if we have had Doge earlier, the best time to sell and book profit. I sold my 1000 Doge long back for literally no profit. Now it would be a good thing. This proves the power of HODL.
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Aside all of that Dogecoin has a really strong community and that weighs heavy on the token's price.
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It is good opportunity for those holding the coin but not recommended to enter at this stage....
I say we call today DogeCoin day
https://leofinance.io/@hivecoffee/i-say-dogecoin-day-is-jan-28
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i would be happy even if it reached 50 cents :P
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Yeah, I wish Hive also gets some momentum and reaches 50 cents. :)
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I hadn't seen this thing! thanks for the information
Cool. You are welcome. Cheers!
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If you do manage to get some doge post it in my comments here and ill tip you some extra doggies