Doge Memecoins Jumps On Speculation

They provide little to nothing new to the table and are mostly just extensions of preexisting protocols and programs. 

These digital currencies were created with the express purpose of imitating the success of other cryptos; they do not introduce any novel features to the cryptocurrency market or underlying technology. Their success or acceptance into mainstream commerce hinges entirely on the support of key opinion leaders and popular culture.

Frankly there was No rumor , it just investor's rationale and speculation, that the Doge is likely to be incorporated into Twitter's program 

'Buy the rumour, sell the news' Crazes just catch on by itself like wildfire ,as speculators are promoting the idea of capitalising on market movements by opening a position on a possible business strategy , in anticipation of an announcement… possibly from either Elon Musk or Twitter and just because the market loves the news that Mr Elon Musk has taken over Twitter, it went crazy and DOGE had a good run, and I'm happy for anyone who invested early and profited. It's a good move but do tread with care 

To put it bluntly, if you invested more than a dime, you're about to lose it. DOGE was and is a joke currency; it will never be taken seriously.

There are currently far too many tremendously expensive shltcoins, but the moment is coming when many of the top 100 cryptos on coinmarket cap will be valued for what they are. Over time, Doge may turn out to be just another LUNA is right now, and if we have learnt from past lesson , do make sure to do your research, before jumping in too fast 

The number of people who hopped on board when it was going up, along with the even larger number who came on later in the hopes of making a profit, means that getting back to even will take some time. The buy volumes show me how many people got in at the peak, and it is worrisome as majority of investors does not want to see Big market crashed again . 

It's prudent to cash out while you can still make a profit, rather than risk losing everything. The bottom is about to fall out of this descending triangle for Doge and might be for BTC as there are few crucial meeting in the next few days that will affect the market with super high volatility ,namely , The CPI rate hike will happen on 3 November and the Non farm data will be released also on the 4 November .

U.S Inflation data will be released on the 10th and on the 16th will be Retail sales ..all these critical date are edgy date that usually come with sensitive news that might just dumped the whole cryptocurrency and stock exchanges market, and the subsequent correction will be swift and severe. The only reason doge is still around is because of the endless stream of hyped-up influencers comments and charts projecting upscale movement 

Do your own research if you want financial guidance, but this is just my two cents. If you're going to put your money somewhere, put it into things that will help people or will make the world a better place. In spite of the popularity of meme coins, Twitter has not revealed any plans to officially support them.

 If the initial cryptocurrency boom was marked by excitement about DeFi and NFTs, then the current meme frenzy must be the meme season's zenith. Nowadays, it's impossible to escape hearing about meme coins, which many people believe are responsible for bringing in new users to the cryptocurrency market thanks to their low price barriers and tremendous excitement.

Although the first memecoin appeared in 2013, the craze didn't start until February 2021, when Dogecoin began to pump and receive popular attention because to Elon Musk's tweets.

Billionaire and Dallas Mavericks owner Mark Cuban started accepting DOGE for ticket purchases after Musk's praise caused a ripple effect. As its popularity grew in the community, Dogecoin (DOGE) briefly overtook Bitcoin (BTC) as the most-searched cryptocurrency on Google. It seems to be happening again, but once the craze is over, the dump will be massive 

At present, there are over 5,000 different meme coins available, making this a quickly expanding industry. Because of the success of Dogecoin, other dog-related meme coins like SHIB and AKITA have emerged and swiftly gained listing on major cryptocurrency exchanges.

The strength of a meme token's community is a key factor in the token's ultimate success.

Memecoins' only flaw, in my opinion, is that their worth is based on online popularity and jokes rather than any sort of hard data or proven business strategy. 

The cryptocurrency market is incredibly volatile in November 2022 , so you'll need to have your wits about you if you want to make any money at all. Do your research like you would for any other investment before putting your money down, or you might get a rude awakening.

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