{"id":462342,"date":"2021-04-26T15:51:05","date_gmt":"2021-04-26T15:51:05","guid":{"rendered":"https:\/\/wncen.com\/?p=462342"},"modified":"2024-06-11T13:55:16","modified_gmt":"2024-06-11T13:55:16","slug":"dogecoin-rise-good-bad-ugly-altcoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin-rise-good-bad-ugly-altcoin\/","title":{"rendered":"The Rise Of Dogecoin: The Good, Bad, And The Ugly"},"content":{"rendered":"

Dogecoin has made crypto investors more money<\/a> than the likes of Bitcoin and Ethereum since the start of the year. But not everything related to this incredible rise to super stardom has been all glamor and glitz.<\/p>\n

While the “joke” coin has proven itself anything but, it still has created a not-so-funny situation for several late-to-the-game mainstream investors. Anyone expecting a dollar per DOGE and bought too close to the top, could now be a sad puppy who’ve lost a lot more than their favorite bone.<\/p>\n

Who’s A Good Boy? DOGE Fetches Mainstream Investors Massive Wealth<\/h2>\n

While in line waiting for coffee, two young men no older than their mid-twenties were heard having a conversation loudly. Before ordering their iced lattes, one tells the other about his $250 investment in Dogecoin turned into a cool few grand in his pocket<\/a>.<\/p>\n

These stories aren’t uncommon for mainstream investors who generally have no idea what they’re doing, but heard about the meme coin with an adorable internet pup though TikTok. They clicked buy on Robinhood or other apps, and net themselves a small fortune \u2013 yet not enough to catch up to the coin’s frontman Elon Musk<\/a>.<\/p>\n

Related Reading | Is Amazon About to Accept Dogecoin? The Payment Use Case Explored<\/a><\/strong><\/em><\/p>\n

Anyone who put money into Dogecoin in early 2021 has far more money than they started with. Unless they were among the latest to join the feeding frenzy among the pack of hardcore fans, then there’s always another side to every coin.<\/p>\n

\"dogecoin<\/p>\n

The good, bad, and ugly of the Dogecoin pump all in one chart | Source: DOGEUSD on TradingView.com<\/a><\/pre>\n
Bad Doggy: Dogecoin Latecomers Get Bit, Rally Put To Sleep<\/h2>\n
The chart above shows the technical rollercoaster<\/a> that has been the rapid rise of Dogecoin. DOGE has been on a tear, soaring almost 10,000% this year alone.<\/p>\n
Anyone who got in before April still has plenty of bones buried out back for a rainy day, however, those late to the feast might want to roll over and play dead<\/a>.<\/p>\n
Related Reading | The Two Signals That Say Dogecoin Holders Are In For \u201cMuch Ow\u201d<\/a><\/strong><\/em><\/p>\n
The initial correction saw an immediately 70% collapse. As of right now, there’s a huge recovery, and Dogecoin is still down more than 40% from all-time high.<\/p>\n
But when you’re comparing a measly 40-70% correction against an almost 10,000% rally, this dog could have a lot more to shed<\/a>.<\/p>\n
When assets lose their parabolic advance, they tend to correct by as much as 80% or more. In altcoins like Dogecoin, historically things get far worse, often shaving a full 99% of all-time highs before another recovery attempt is made years down the line.<\/p>\n
\"dogecoin<\/p>\n
Those sucked in that don't understand markets can lose a ton of money | Source: Reddit<\/a><\/pre>\n
That could end up leaving investors like the one in the dog house for some time. Take this poor bloke<\/a> for example, who now has to tell his wife that the allure of DOGE to the moon and $1 Dogecoin was well worth the risk of their life savings.<\/p>\n
The moral of this story is that every dog has its day, and Dogecoin’s could now be in the past<\/a>. If that’s the case, any further gains will be kept on a leash.<\/p>\n
Featured image from Pixabay, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Dogecoin has made crypto investors more money than the likes of Bitcoin and Ethereum since the start of the year. But not everything related to this incredible rise to super stardom has been all glamor and glitz. While the “joke” coin has proven itself anything but, it still has created a not-so-funny situation for several late-to-the-game mainstream investors. Anyone expecting a dollar per DOGE and bought too close to the top, could now be a sad puppy who’ve lost a lot more than their favorite bone. Who’s A Good Boy? DOGE Fetches Mainstream Investors Massive Wealth While in line waiting for coffee, two young men no older than their mid-twenties were heard having a conversation loudly. Before ordering their iced lattes, one tells the other about his $250 investment in Dogecoin turned into a cool few grand in his pocket. These stories aren’t uncommon for mainstream investors who generally have no idea what they’re doing, but heard about the meme coin with an adorable internet pup though TikTok. They clicked buy on Robinhood or other apps, and net themselves a small fortune \u2013 yet not enough to catch up to the coin’s frontman Elon Musk. Related Reading | Is Amazon About to Accept Dogecoin? The Payment Use Case Explored Anyone who put money into Dogecoin in early 2021 has far more money than they started with. Unless they were among the latest to join the feeding frenzy among the pack of hardcore fans, then there’s always another side to every coin. The good, bad, and ugly of the Dogecoin pump all in one chart | Source: DOGEUSD on TradingView.com Bad Doggy: Dogecoin Latecomers Get Bit, Rally Put To Sleep The chart above shows the technical rollercoaster that has been the rapid rise of Dogecoin. DOGE has been on a tear, soaring almost 10,000% this year alone. Anyone who got in before April still has plenty of bones buried out back for a rainy day, however, those late to the feast might want to roll over and play dead. Related Reading | The Two Signals That Say Dogecoin Holders Are In For \u201cMuch Ow\u201d The initial correction saw an immediately 70% collapse. As of right now, there’s a huge recovery, and Dogecoin is still down more than 40% from all-time high. But when you’re comparing a measly 40-70% correction against an almost 10,000% rally, this dog could have a lot more to shed. When assets lose their parabolic advance, they tend to correct by as much as 80% or more. In altcoins like Dogecoin, historically things get far worse, often shaving a full 99% of all-time highs before another recovery attempt is made years down the line. Those sucked in that don’t understand markets can lose a ton of money | Source: Reddit That could end up leaving investors like the one in the dog house for some time. Take this poor bloke for example, who now has to tell his wife that the allure of DOGE to the moon and $1 Dogecoin was well worth the risk of their life savings. The moral of this story is that every dog has its day, and Dogecoin’s could now be in the past. If that’s the case, any further gains will be kept on a leash. Featured image from Pixabay, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":462358,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[134,6664,1785,1788,7,79599,79600,79601,4257],"class_list":["post-462342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-crypto","tag-doge","tag-dogebtc","tag-dogecoin","tag-dogeusd","tag-dogeusdt","tag-tiktok","tag-twitter"],"acf":[],"yoast_head":"\nThe Rise Of Dogecoin: The Good, Bad, And The Ugly<\/title>\n<meta name=\"description\" content=\"Dogecoin has made crypto investors more money than the likes of Bitcoin and Ethereum since the start of the year. 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"The Rise Of Dogecoin: The Good, Bad, And The Ugly","url":"http:\/\/wncen.com\/news\/dogecoin-rise-good-bad-ugly-altcoin\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/dogecoin-rise-good-bad-ugly-altcoin\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/dogecoin-dog-1203351_1280.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/dogecoin-dog-1203351_1280.jpeg?fit=1280%2C853"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","crypto","doge","doge\/btc","dogecoin","dogeusd","dogeusdt","tiktok","twitter"],"dateCreated":"2021-04-26T15:51:05Z","datePublished":"2021-04-26T15:51:05Z","dateModified":"2024-06-11T13:55:16Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"The Rise Of Dogecoin: The Good, Bad, And The Ugly\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/dogecoin-rise-good-bad-ugly-altcoin\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/dogecoin-rise-good-bad-ugly-altcoin\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/dogecoin-dog-1203351_1280.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/dogecoin-dog-1203351_1280.jpeg?fit=1280%2C853\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"crypto\",\"doge\",\"doge\\\/btc\",\"dogecoin\",\"dogeusd\",\"dogeusdt\",\"tiktok\",\"twitter\"],\"dateCreated\":\"2021-04-26T15:51:05Z\",\"datePublished\":\"2021-04-26T15:51:05Z\",\"dateModified\":\"2024-06-11T13:55:16Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/dogecoin-dog-1203351_1280.jpeg?fit=1280%2C853","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/462342"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=462342"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/462342\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/462358"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=462342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=462342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=462342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}