It is Saturday, January 30, 2021, the weekend of the most absurd week in financial market history. Just this week, highly shorted stocks like GameStop and AMC went parabolic, crushing short seller hedge funds like Melvin Capital and Citron. These short squeezes caused absolutely unbelievable losses. And, in response, unprecedented action was taken to limit trading on particular stocks and all crypto on Robinhood and other platforms. As traders digested their massive gains in these stocks, they moved on to our favorite crypto, Dogecoin, which shot up 1000% in a few hours. Unfortunately, due to the restrictions and liquidity issues, Dogecoin has since fell back down to about .03c as of this writing. Now, the situation begs the question: Will The Wall Street Bets Crowd Take Dogecoin to $1? We think it is possible…
#Dogecoins and #Dogecointoadollar Is Trending
Since the massive WSB fueled pump in Dogecoin as few days ago, its popularity has skyrocketed. It has been trending on Twitter all day! See below:
For the record, we are very pro-free markets. We know the haters and naysayers will do anything to hold us down, but crypto is here to create massive wealth. They can try as hard as they can, but they will not take us down.
Long Live Doge! #DogecoinToADollar…keep it trending!
Brief History of the Doge Legend
Let’s start at the beginning. What is Dogecoin and how did the madness begin?
According to Yahoo Finance:
Dogecoin started in 2013 as a joke between two engineers. IBM software engineer Billy Markus and Adobe software engineer Jackson Palmer had never even met when they successfully combined two of 2013’s greatest phenomena: Bitcoin, and “doge.” The result: Dogecoin.
Dogecoin was a product that people started using as soon as it was released, much to the two engineers’ surprise. Over a million unique visitors went to dogecoin.com within the website’s first month.
Before the product was released, Palmer, who’d been following developments in the cryptocurrency world, absentmindedly tweeted, “Investing in Dogecoin, pretty sure it’s the next big thing.”
Started as a joke, huh? Who’s laughing now…Dogecoin’s market cap reached $8 Billion USD briefly on Thursday, temporarily making it the 9th largest crypto by market cap.
To put that in perspective, $8 Billion USD is larger than a significant portion of most publicly traded companies.
You can find more information on the beloved crypto here.
The Case for Dogecoin $1
Dogecoin started trading, like most other cryptos, in the .0001 range. As of this writing, Dogecoin is trading under $0.03c, down significantly from its all time high of approximately $0.08c on Thursday, January 28, 2021, but still up a lot on the month. See chart below.
Look at that beauty. We are talking about 20,000%+ gains from all time low to all time high…
If you have not realized by now, this chart is the perfect reason why we chose the name, Parabolically.com. Parabolic moves are the crème de la crème of investing, and they are always out there!
But where to next for the “joke” meme crypto?
Simply put, the freaking moon! BTFD!
In the author’s opinion, it is very possible (and likely) to bring Dogecoin to $1.
Everyone thought it would be impossible to reach a penny again, but here we are with a print of almost 10 cents per coin.
Do Not Miss The Next Round
Missed the train for the first several thousand % gain?
Well, do not fret if you have not caught any of this, or bought at the top, because Dogecoin $1 is coming!
While previous returns are not always a guarantee of future returns, the fact is that there is incredible excitement surrounding this crypto. This excitement is manifested in the price action, which is only now being limited due to restrictions on trading it.
We believe as soon as the restrictions and liquidity issues are settled, Doge is heading straight back up.
Wall Street Bets crowd loves it, I love it, Elon Musk loves it. Memes have become a way of life, and is one of the top reasons the internet had such early success. It is easy to see how this has translated into massive gains in the meme crypto itself.
With massive stimulus and money printing, the US government has decided to destroy the value of the dollar.
Conversely, if you have been investing in virtually any cryptocurrency in the past several years, you know the reverse is true.
Bitcoin is now trading around $33,000, Ethereum around $13000, Litecoin $133, etc.
Between stimulus and extraordinary interest, it is very possible to take Dogecoin to $1.
We are not saying this will happen this week, month or even this year. But if you buy now and hold long enough, they will print enough stimulus money to take Dogecoin to $1.
In closing, crypto appears to be entering the early stages of a massive new bull run, despite the restrictions and liquidity issues of late. Bitcoin, Ethereum and Dogecoin have already broken above their respective previous all all time highs in 2017. While Dogecoin is down significantly due to Robinhood restrictions and other liquidity issues on other platforms, this may change in a heartbeat. The same way it rose 1000% in a few hours on Thursday. It appears the internet has begun the start of a DOGE Revolution, and $1 is not out of the question. We are bullish, we are holding and everyone in our trading community has put a DO NOT SELL order on Dogecoin. Let’s go to the moon! #DogecoinToADollar
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