Who let the DOGEs Out?

[James212]

 

The WHOLE crypto market is irrational and stupid in the sense that (almost) no one invests based on fundamentals.

+5%

[James212]

GoCoin processes Bitcoin, Litecoin and Dogecoin and GoCoin is part of PayPal announcement.
So PayPal announcement is good for Dogecoin was my understanding

I have similar thoughts:
Doge merged mine with litecoin a few weeks back which gave it a renewed life to a ailing network.

Its appears to be rising now from the Paypal deal with Gocoin which supports acceptance for Bitcoin, Litecoin and Dogecoin.  Its possible, the price impact has been greater on dogecoin because it has uplifted the coin as a more "serious" form of payment, whereas Bitcoin and Litecoin always had that front face.

+5%   Right now 4 among the 5 top five competitors on CoinMarketCap, have had very positive "mainstreaming" news come out in the past week.   Bitcoin, Litecoin and Doge will be (in some way) accepted by Paypal.   Ripple has sealed agreements with U.S. banks for the first time.   Out of the top five, only Bitshares has not had news.  Granted we are much younger than any of these players and I'm sure some good news will come in good time.......... (Just thinking out loud, it would be great if we could seal the Overstock deal!  :) ) 

[santaclause102]

The WHOLE crypto market is irrational and stupid in the sense that (almost) no one invests based on fundamentals.

Is that self fulfilling though? Since everyone is acting on emotion the fundamentals don't work as well. It's like the floor of the NYSE was turned over to 15 year old kids and it turned into Lord of the Flies. Buying what the cool kids buy, any company that shows signs a of a rally or has a catchy name or [ANN] post. It's so absurd yet so addicting :).

That is a bit how it looks like to me. Most investors seem to base their decisions on ideology (some authority said it so I believe it; often the authority is just the majority ;) ) and moral judgements (bitcoin will revolutionize the financial markets; but no one looks close really). If crypto xxx has any value after all something that comes out of the "bitshares cloud" will succeed.

[jsidhu]

The WHOLE crypto market is irrational and stupid in the sense that (almost) no one invests based on fundamentals.

But the fundamentals are being applied here... and right now its simply a P&D(accurately framed accumulate/distribute for proper traders) from chinese.. but btc was a series of P&D's as well that created higher highs... so might be self-fulfilling.. I expect correlated coins to catch up soon so some money to be made.

[jsidhu]

What does DOGE have that is driving it higher than Nxt?

Chinese pumping it due to merge mining coming out, proving that its going to be around for a while. Was reading on btc38 chat people switching over to doge from btsx.. now they are distributing doge and getting back into btsx.

[johncitizen]

You will be surprised that many people trade the crypto market full time and some are coming from stock and forex background

[Mysto]

I think dogecoin is just a viral meme. Eventually like all memes it won't be funny anymore and...

[Riverhead]

The WHOLE crypto market is irrational and stupid in the sense that (almost) no one invests based on fundamentals.

Is that self fulfilling though? Since everyone is acting on emotion the fundamentals don't work as well. It's like the floor of the NYSE was turned over to 15 year old kids and it turned into Lord of the Flies. Buying what the cool kids buy, any company that shows signs a of a rally or has a catchy name or [ANN] post. It's so absurd yet so addicting :).

[Mysto]

The WHOLE crypto market is irrational and stupid in the sense that (almost) no one invests based on fundamentals.

But in the end those who do will be rewarded greatly  ;)

[santaclause102]

The WHOLE crypto market is irrational and stupid in the sense that (almost) no one invests based on fundamentals. 

[Ander]

Everyone should have a stack even just to tip crypto newbs and make friends, people love it!

Indeed.  the amount of happiness I have felt after having been tipped three cents worth of DOGE is highly irrational!

[johncitizen]

I think marketing has much to do with it and the merged mining. The mm is what started the market reversal.  Compare Doge to LTC- A fun friendly crypto full of vibrant people or a whining coin with no face to it. From all the coins Doge stands out as the perfect PR smile and I think smart money is hedging in. Everyone should have a stack even just to tip crypto newbs and make friends, people love it!

[Ander]

Looking more in depth, both DOGE and BTSX have a majority of their volume traded against CNY. Is China just on a buying frenzy right now or what??

They are on a frenzy for DOGE and BTSX.    Not for bitcoin though.   
When I look at the chats in the chinese exchanges I see lots of pumping of BTSX, DOGE, and PPC lately. 

[nomoreheroes7]

BTSX looks to me like its just starting another parabolic move.  It looks just like the DOGE chart a week ago when DOGE was in the 60s.    I just panic bought as much as I could! 

Yea, the BTC38 BTSX/CNY price is rising considerably. Pretty intense right now.

Looking more in depth, both DOGE and BTSX have a majority of their volume traded against CNY. Is China just on a buying frenzy right now or what??

[Ander]

first popular coin that finish mining time.

Yeah this basically.  DOGE had high inflation for all of its existence but its about to have low inflation.

Obviously we know that no inflation is better.  But there are still tons of people who love proof of work, as DOGE has a great proof of work setup - low inflation, but network power supported by the larger litecoin.   They get good security while only having to pay for part of it.