Both “big days” for Dogecoin ended in a bust. April 20th, or DogeDay, was thought to be a day where Dogecoin would rise drastically in value. Instead, it fell sharply and continued to fall for a few days. I had a feeling the price of Dogecoin was also going to plummet after Elon Musk hosted SNL and it did just that. I didn’t panic sell because I didn’t have my heart set on it rising in the first place. Why? Because Dogecoin, like bitcoin, or any crypto/stock for that matter, is an investment. Usually, investments take a long time to turn big profits, not just one night. The more hype around a single event or day related to Dogecoin, the more the price is going to fall. For a cryptocurrency to rise in value, people have to be buying it. How then, is Dogecoin supposed to reach the moon if people keep selling it? I understand that sometimes you need the money and that’s 100% okay. It’s really cool to see a coin that started as a meme help people and families in need. However, if you’re selling because you’re scared to lose too much money, you’re part of the reason why the price is dropping. I think too many people still view this coin as a meme. Once we get past that, I think Dogecoin can easily be worth well over $10. Until then, we must continue to HODL and remember to Do Only Good Everyday!
Edited for punctuation.*
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