Dogecoin manipulation squeezing the market?I just had a realization that all this crazy manipulation that is so plainly obvious... Dogecoin is likely the key factor. The spam bots, media personality adoption, Robinhood, WSB, all have combined into a marvelous cocktail for crypto whale manipulators to take advantage of retail traders once again, and utilize a network effect by utilizing leveraged bitcoin as well as alt coin markets, all tuned to automated flash bots that can execute complex orders of trades with the push of a button at pretty much any speed desired to achieve the intended affect upon the witnessing masses. Sounds crazy? What, like a coin with no supply cap and 13.7 million coins mined a day suddenly going from under 4/10th of a cent to 38 cents within, really, a few quick pumps?
What does this mean for dogecoin? Dogecoin may very well go higher. It might go higher now. Maybe in a week. Maybe it'll play out some nice triangle pattern to lure in fresh money. Oh yeah, its going up. Sure. You bet. And then its going to dump harder then you've ever seen anything dump before. Its gonna be a massacre. An absolute bloodbath of retail investors getting slaughtered. Dogecoin may never recover. Maybe it will. Who knows. But its going to dump for sure! So if you are holding bags, prepare you exit strategy now! I am not telling you when to sell, I am simply telling you that if you do not have a plan to sell you will lose your money in this game! Not all altcoins are good for newcoming retail money. People entering the crypto space will leave it forever because of this cycle, much like 2017. Only this time, Bitcoin will continue on and the rest of the world will know the pain these markets can bring to newcomers.
What does it mean for the rest of the market? It means that there are whales who made a clear decision for Dogecoin over Bitcoin, and the rest of the market really, at least up to now. This could change at any moment, and it is probably more likely than not. It means that there is definite manipulation happening, as this is a global market, and that the whales of this market are trying to shake out new retail investors and take their crypto, no matter how. Their plan is, seemingly now staring us in the face, to find the most pumpable coin, pump it to a place it could never return to without similarly insane manipulation, use the money from the pump to dump the rest of the market in order to buy up what may be the last cheap bigcaps to be sought short of a fat finger discount, and then when they do cash out of this game, its going to be one of the biggest wealth transferals witnessed on a public stage... to completely anonymous actors. Who are these whales? Are they acting alone in chaos or as an organization? Are they criminal in other realms? Are they elites? Were they once “normies” who'd bought in early and have unprecedented hidden wealth for our era? Only time will tell. Can't wait to see the movie on this.
Not a financial advisor, as always DYOR and know you are accountable for your own trades.
