Parabolic Coefficients Holding - Next Stop - Doge to $.016
Doge started as a joke, but nobody's laughing anymore - market cap at $1.5B
Doge is an inflation protection pipeline, despite it's origins and funny name - it's a parking lot like gold, BTC, et al
RobinHood kids are flowing stimulus dollars to crypto, Bitcoin is top-heavy - liquidity is getting thin at the bid -- BTC at altitude, beware!
As stimulus funds continue hitting bank accounts, Doge will continue filling with cheap USDs. In addition, equities are also top heavy, I expect that profits will begin flowing to cryptos.
Next stop $.016 as parabolic run continues
Doge is an inflation protection pipeline, despite it's origins and funny name - it's a parking lot like gold, BTC, et al
RobinHood kids are flowing stimulus dollars to crypto, Bitcoin is top-heavy - liquidity is getting thin at the bid -- BTC at altitude, beware!
As stimulus funds continue hitting bank accounts, Doge will continue filling with cheap USDs. In addition, equities are also top heavy, I expect that profits will begin flowing to cryptos.
Next stop $.016 as parabolic run continues
Order cancelled:
So after more reading and studying, I have to clearly state I am wrong here.
Doge may very well hit the target I mentioned in the short term, but there is a fundamental flaw with Dogecoin - the supply of coins isn't capped as I understood it initially. This means that any upward price surge will face an insurmountable headwind of quick in-and-out traders as well as a continual resistance at the ask by miners as they dump their new coins at favorable pricing. I sold my entire position, I wouldn't touch this crypto again.
There are ~150B coins in circulation, but that will perpetually grow over time to reward the few miners who process transactions across the world. So the parking lot analogy doesn't work here at all.
Dogecoin exists in it's current state to reward the miners, not a game worth playing.
An inflation protection vehicle must be finite to work.
All that said, it is possible Doge will continue climbing due to all the recent interest and the subsequent orderflow.
Doge may very well hit the target I mentioned in the short term, but there is a fundamental flaw with Dogecoin - the supply of coins isn't capped as I understood it initially. This means that any upward price surge will face an insurmountable headwind of quick in-and-out traders as well as a continual resistance at the ask by miners as they dump their new coins at favorable pricing. I sold my entire position, I wouldn't touch this crypto again.
There are ~150B coins in circulation, but that will perpetually grow over time to reward the few miners who process transactions across the world. So the parking lot analogy doesn't work here at all.
Dogecoin exists in it's current state to reward the miners, not a game worth playing.
An inflation protection vehicle must be finite to work.
All that said, it is possible Doge will continue climbing due to all the recent interest and the subsequent orderflow.