While there has been a lot of buzz in the crypto world about Bitcoin, and for good reason, Dogecoin has also been on an incredible run lately. Both Dogecoin and Bitcoin holders have one huge advantage over every other cryptocurrency out there, Elon Musk is showing his support of both of them, bigtime.
I bought Dogecoin in early Jan and sold in early Feb, it was one heck of a ride, and while I don’t normally day trade crypto, I’m glad I did. Now I have to say, I’m interested and I’ll probably buy back in. That being said, at this point Dogecoin is the same as gambling in Vegas, it’s pretty fun, but it’s gambling.
The only difference is, in Vegas, Elon Musk isn’t constantly sending tweets that tip the odds in your favor, with Dogecoin, he is, and it doesn’t look like he’s going to stop anytime soon. The excitement around Dogecoin has translated into a massive price move for the coin, here’s a pretty chart from Robinhood:
Yes, that’s a 1,716% uptick in the last three months, or really in the last month and a half. But one of the big challenges Dogecoin has is that a handful of people hold an insane amount of Dogecoin. Believe it or not, one person has 27% of all the Dogecoins out there.
Enter Elon who is trying to encourage these whales to sell in order to make the Dogecoin market more fair and predictable for everyone else. Here’s the tweet heard round the Dogecoin world:
While I could go deeper here, as all of you know, I don’t blog about crypto, I blog about domains…and well, all of this activity around Dogecoin has me thinking about Dogecoin domains. It’s no secret that Bitcoin domains have been on fire, and well, with all the energy around Doge, my interest is piqued.
What do you think? Dogecoin? Dogecoin Domains? Comment and let your voice be heard!
Note: most of my comments have moved to Twitter, so while I encourage you to comment on my blog, know that the vast majority of the commentary on my posts now happens on Twitter 🤷♂️ (and here’s a handy link to the tweet)