Does the DogeCoin (DOGE) Hype Make People Act like Monkeys?

Reports claim that Elon Musk’s Twitter buy has pushed crypto whales to buy huge amounts of Dogecoin.  The price of Doge Coin went high the sooner the news about Dogefather taking over Twitter made it to the media.  There were a lot of big money transactions in the process.

Meanwhile Billy Markus made a few general statements: “Hype makes people act like monkeys.” He further stated, “A gentle reminder that the crypto market is based on nothing but people speculating on other people speculating and whales manipulating, leading to nothing but bubbles, bubbles everywhere may the odds be ever in your favor.”

Meanwhile Roger Ver is back on Twitter and he has made a statement that he likes Dogecoin. For those who do not know Roger Ver, he has voiced support so far only for two cryptocurrencies one is Bitcoin and the other is Bitcoin Cash (BCH).  And, now he is here touting the merits of Dogecoin.

By whatever Roger Ver states it looks like he will be in favor of Musk Enabling.  Perhaps we might see lot of Dogecoin Tips trending from Roger Ver.

Roger Ver stated that Dogecoin is more cheaper and reliable – further established that if he were asked to pick 3 contenders for the world’s dominant cryptocurrency then he would name:  Doge, Litecoin, and Bitcoin Cash.

Bitcoin and Litecoin are technology breakthroughs which permit people to build a more free and open financial system which enables the rights of people to control their own labor and property. And, now in the list is named Doge.  The mass adopt only when it provides value.  So, ultimately it is about the value these tokens deliver.

Billionaires are buying and investing in to cryptocurrency.  And there is so much innovation and valuable things built in the blockchain network – ultimately whether something is a bubble or not is determined by the value it delivers.

One the technical side:  Mark Cuban:  “We add an optimistic roll up to Doge Everyone puts up 1 doge for unlimited posts. If anyone contests a post and humans confirm it’s spam, they get the spammer’s Doge. Spammer has to post 100x more Doge If it’s not spam, the contester loses their Doge.”

A wise guys stated, “The whales are not the problem. They never have been. It’s the knowledge of the investor. Speculation must cease, and a DCA strategy must be implemented. They will start making profits and their emotions will become controlled. Fears down, profits up.

Believers continues to be like:  “I am in on doge. Reason: If crypto happens, doge will be on top, if it doesn’t happen, I assume the risk.”