Small dogs tend to make the loudest barks!
DOGE was introduced back in 2013 and it was introduced nothing more than a joke!
People who were buying it were the ones that felt kind of a sympathy because of the funny logo and name. In the first 72 hours it jumped 300% going from $0.00026 to $0.00095 and it's price remained around there for years...until now!
One of the biggest DOGE enthusiasts is Elon Musk. We all know that Elon Musk is above everything a meme lover but even if this is a meme I think that it might be bad for all cryptos.
The push that Elon did brought Doges market cap to 10 Billion, rising more then 300% in just two days it is selling now at 0.071$!
Will this affect the reputation of other cryptos
Well, Cryptos made quite a name for themselves it will require a lot of stupid unthought things to damage it's reputation. But the crazy bullish move on a shitcoin like Doge I think will give cryptos a hit.
Life taught us that there is nothing that people wont try and manipulate but I do think that Elon didn't make this to support crypto world.
Pump and Dumps do happen for personal gaining and for all of those who can hop in it, I don't see Doges enormous price increase in any other possible way.
Let's see what charts tell us!
Although price is respecting newly created Support and Resistance zones the strong resistance area at 0.013$ was never retested after the strong bullish break.
Price might reach higher, maybe they can pump it as high as 0.15$ but this 0.013$ area will need a retest sooner or later. Which means that it will be sold until it reaches down there before someone else puts money in it.
Now, what do I expect!
You can clearly see my lack of sympathy for DOGE, and I'm very sure that I'm not the only one. While it's price might go even higher, as I mentioned above...price should come back for that retest.
I do expect another bullish movement which will push DOGE's price as high as 0.10 and then I expect a strong rejection.
Will people still buy DOGE after it's price comes back to 0.013?
Well it won't be me for sure and most of those who do think that this was nothing more than just a Pump and Dump scheme. Quick pocket change for someone.
Will you buy DOGE?
theatdhe!