Search
Close this search box.

Home of the best experts

Crypto, Investments & markets, News
By Gontran de Quillacq
On May 6, 2021

Dogecoin Rap unwrap – social media push crypto to a new high price.

The Dogecoin Rap video is funny and right on cue, if you listen carefully. But crypto can only go up via social media advertising, experts say.We have seen such exuberance in the past. But now the GameStop Redditors who bankrupted hedge funds say that Dogecoin is next.It very much looks like a "pump", as in "pump-and-dump".

The Dogecoin Rap video is funny and – if you listen carefully – right on cue, but I am wondering how many people will take it at first degree, and what its real purpose is.

The problems are:

  • Reddit/dogecoin has already 1.7 million subscribers.
  • The same Redditors who technically bankrupted the hedge funds with GameStop also said that dogecoin is the next in line. [Reference: Finance Magnates]
  • Dogecoin soars 55% and becomes 7th largest cryptocurrency after the Musk advertise DogeCoin. [Reference: CoinDesk]
  • “Dogecoin’s price has spiked to $0.35, an increase of 12% in the past 24 hours, as social media influencers continue to throw their support behind the Internet’s most valuable Shiba Inu dog.” [reference: Decrypt]
  • The only way most crypto tokens can hit new heights is by attracting more and more attention, bringing in more and more buyers.” That’s the conclusion of this Motley Fool article (below).

 

“Straight line”? How could this end-up? We never saw anything similar in the past, have we?

  • Internet and dot-coms HAVE taken the world over, but most dot-com companies are worthless; only a few have done (really) well.
  • There is a limited supply of real estate. “It can only go up”. We got a global financial crisis out of this assumption.

Exuberance of the markets? This time it’s different? Sure.

So far, this very much looks like “pump”… as in “pump-and-dump”.

 

 

References:

Leave a Reply

Your email address will not be published. Required fields are marked *


News
We would like to express our heartfelt thanks to you, our clients, for your continued and growing business with us.We're also excited to share some...
Derivatives
Investments & markets
The CFTC just fined Goldman for failure to properly disclose prices fairly to clients. And it's all about a technical issue related to the timing of...
Investments & markets
News
Silicon Valley Bank (SVB) defaulted on Friday. At $212 bn of assets, it is the largest failure since 2008, and probably one of the fastest -...
News
The financial industry is a legal and compliance minefield for its million+ members. Through the Financial Professionals Coalition, Stephen Kohn, Bill Singer, and a talented group of...
Investments & markets
News
Xi Jinping's new leadership team will maintain the current direction. And China's GDP will slow; the Chinese economy is unlikely to reach that of the US...
News
Regulation, enforcement & litigation
Johnson & Johnson has spent billions on cases about one of its most popular products - talcum powder. As its executives try a brazen new legal...