Current DOGE Craze can have huge Negative Impact on Crypto adoption

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The Current Doge price is pure Insanity, if you don´t mind taking financial advice from a baby.....

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My guess is that the majority of DOGE currently bought is bought by Crypto Neanderthals. And in the end it will be bad for mass adoption, because this is what will happen:

The experienced crypto holders will sell their DOGE en mass and prices will drop and these Cryptothals, whom did their first crypto investment in DOGE. will be like:

"OOOOh crypto....Crypto Bad.....
Crypto make me lose Big.
Me buy many DOGE ...because Elon Say DOGE will go to Moon....
Now DOGE dead.... me big lose....Crypto Bad."

You can argue that DOGE is a collectible, but even then you only need to hodl one. And with 10.000 Doge coins being mined every minute and an infinite market cap.... buying DOGE is like buying sand...although sand has a better use case.

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I mean DOGE was a fine step-in coin for the Cryptothals, but now we are talking serious money, serious risk. If this one drops they will come crying for more restrictions and regulations...and give the good crypto a bad rep.

P.S,
If you don´t hear from me in a while..it´s because I am hiding from the DOGEarmy.

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I don't know what to think of Doge. It's being egged on by Elon, so we can't blame newbies so much. I mean we can, but it's worth bearing in mind that most people buying Doge have no idea what they are doing. They see Doge is going up, they see tweets from Elon saying it will go to $1, and they think he's the richest man in the world so he must be right, so it's easy money, let's buy as much as we can.

Yes, we can say they should do research before investing, but that's just unrealistic. So yes, the people FOMOing in deserve what they get, but Elon also needs to stop encouraging people who don't understand what they are doing.

I mean, I'm enjoying it. I picked up a few thousand Doge for a few bucks two years ago, so I'm good. If it actually does go to a buck, I'm even better. But I do agree this massive pump is not something we want to see.

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You can argue that DOGE is a collectible, but even then you only need to hodl one. And with 10.000 Doge coins being mined every minute and an infinite market cap.... buying DOGE is like buying sand...although sand has a better use case.

THIS. Speculators going to speculate. Gamestonk all over again. At least with bitcoin your holding something that gets mined less and less over time and has a hard cap.

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