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Around 100 people control all of doge

Pretty dangerous IMO, tomorrow is “Doge day” as well, and if prices do go to $1 or anywhere close, all it takes is 1 whale dropping his bags, and this will cause a chain effect. Be careful, and know the risks associated with holding a volatile asset such as doge

https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/around-100-people-control-doges-103247173.html



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35 Comments

  1. I got in with 10k USD at .04 and .07. It’s now worth almost 70k. I took out 20k USD today to guarantee a profit, but I agree with 99% of everything being said in this thread. If the whales start selling, it’s going to tank. The doge subreddit is ludicrously talking about hitting 10$. The only reason I’m still holding onto 66% of my investment is to see what it does tomorrow.

  2. I just don’t even know anymore… Did anyone seriously think it was going to $.10? $.20? Fucking $.40?!

    The one thing I’m really not sure about with this situation is it seems that even the people new to the space are adamant about the hodl mentality. I’m not sure that a selloff would be as dramatic as we think it would be at this point.

    Even still, it’s massively in a bubble, and it doesn’t take much to trigger a mass panic selloff. I’m staying far away but it’s fascinating to watch.

  3. Smart investor take profits on the way up regardless of what there investing in, everyone on this post is all doom and gloom about doge, but the smart investors already made money on doge. Is that not one of the purpose to invest is to make profit? Hell I’d investor in actually fertilizer if I know I’d be making profit.

    This entire post and comments remind me of how many talked about bitcoin in it infancy, I find it very interesting 🤔

  4. I don’t care about doge, but everyone that craps on doge sound like the TV and news analysts that crapped all over crypto/bitcoin. All of them were so wrong about it and now it feels like we are their crypto equivalents for doge.

  5. Haven’t we already established that the top wallet that owns 28% is actually RobinHood and their 13 million users? This already debunks this theory. Who is to say that the other large holders are not entire orgs? This title is completely misleading and leads out this major fact.

  6. I don’t see it as dark as the majority here. Several mainstream and small retail companies, including a number of NBA teams, are now accepting the coin as payment. It could hold strong at $1.00…$1 = 1 Doge

  7. Guys we should all calm down and think things through. We are virtually ensured that none of these “megaholders” would be incentivized to dump their coins out into the market since doing so would efface their fortunes in the process. Should a megaholder start to sell a ‘significant’ amount of their coins, the price would crater and their ability to acquire capital (which is the point of them selling in the first place) would recede immensely. Also, if someone owns 29% of Dogecoin they wouldn’t be able to sell, say $3 billion, even if they wished to since the instant demand for such an amount would not likely exist.

    Now, that is not to say that there is no inherent risk in buying Dogecoin and other assets. One should be aware that engaging in highly speculative assets, such as Dogecoin, come with a whole range of risks that one should be aware of if they decide to board the ship. As someone else commented on this very same post: Dogecoin lost more than 90% of its market cap after the last two crashes in 2014 and 2018.

    However, I do not think that megaholders should be our primary cause for concern for a potential Dogecoin crash. Rather, I believe that it is logical to ascertain that it would be the market at large, such as a crashing of the crypto market cap & equities markets, that would be the cause for a steep decline in Dogecoin’s market cap.

  8. I feel like the inevitable crash is going to have negative effect on the whole crypto scene, well, time to buy more bitcoin when that happens I guess. It’s a game of chairs at this point, why people are still buying at these prices is a mystery to me.

  9. Hi. Doge investor here. I put about $400 into Doge when it was around 5-10 cents. I’m holding because I’m just curious what will happen. I’m 100% prepared to lose my investment entirely, or go to the Moon. Doesn’t matter to me. I like the meme, I like the coin, if it does go to the moon and makes me many thousands of dollars, I’ll be the first to talk all the trash to people who doubted it. The future will tell.

  10. Im holding Doge (at least until tomorrow). I know the endgame/exit is into Bitcoin.

    I DCA’d in an amount I was willing to lose. I took profit when I was 5X equal to my initial investment (wager).

    I had faith in the Doge becoming the internet currency when I saw all slow natural growth and increased adoption after the 1st couple peaks…

    …this current run up scares me.

    I was going to hodl my “profit” bag until zero or the moon.

    Now…Im not so sure. If it does go to $1 then dump forever I will have missed out on not quite life changing…but financially significant gains.

    Im torn.

  11. 1% of all holders of US Dollars control more than 96% of US Dollar holders. So…

    Also, most of these “whales” are not single individuals, they are large brokers like Robinhood, Binance, etc. and also mining pools. They are not going to just “decide to dump” one day. OP needs to stop fearmongering.

  12. Most people i know only dropped a few hundred on doge and already sold some of their stake back for a profit, myself included. We learned from the GME fiasco.

    Anybody pretending this is anything more than a pure gamble hasn’t really been paying attention to dogecoins history. Its literally worthless and the only thing propping up its price right now is pure hype

  13. How many times are we going to see the same post rewritten attacking doge? Is it educate new members on its risk? That’s fair if so but maybe a stickied post would work.

  14. Full disclosure – I dont own any Doge and dont want to!

    Maybe I missed something or misunderstood the meaning but didn’t Elon Musk say along the lines that HE was going to be the buyer of last resort for Doge? That if people wanted to sell their Doge coins, HE would be there buying up the supply?

    Now, I get the point being made that there’s like 100 people that are holding most of the coins and they COULD dump….. But I think that’s once again overlooking the fact Doge is a meaningless MEME coin to begin with! I personally couldn’t care if Doge had a million, a thousand, a hundred, ten whales because the project itself isn’t worth investing in (PERSONALLY)!

    Now, if people CHOOSE to YOLO their life savings into a meme shitcoin that has no real project of substance behind it…… that is THEIR right to choose how they deploy their capital! (PERSONALLY, I think its batshit crazy, but you keep doing you).

    And if Elon Musk decides to redistribute some of his wealth to the little guy by being the buyer of last resort, then that is HIS right as well!

    Hell, for all I know Elon Musk has a master plan for Doge once he buys up 75% + and will breath new life into the project and turn it around for something he needs for his future expansion….. maybe Doge will be the official currency of the Mars colony when he sets up shop there and its all he will allow trade to transact in with Earth and the Moon colonies!

    That’s the sort of batshit crazy BUT amazing troll I would expect from Musk! While all the Bitcoin/Eth purist meltdown screaming how ThAt’S jUsT nOt PosSiBlE and It’S nOt SuPpOsEd To WoRk OuT tHaT wAy 🤣🤣

    And Musk responds with nothing more then a Tweet with a meme of the Doge dog and a picture of alpha centauri….. And we all realise that Doge, a shitcoin is in fact going to be the currency of intergalactic trade!

    Musk retires when it happens, then writes a book detailing how he started Tesla, Space X, got us to Mars and then Moon, opened colonies and settled them, then got trade happening with alpha centauri……. ALL so he could pull off the biggest troll in human history and watch crypto purer’ist implode as he made sure Dogecoin was the coin to rule over them ALL, and that 1 thing was really his LIFE’S work 🤣😂🤣

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