Leave it up to Reddit to figure out any and everything that you need to know. Especially when it comes to stocks or crypto. We all know what the Reddit community can do.
Recently the rise of the crypto coin, Doge, has been really impressive. But with the rise of the coin, it made a lot of millionaires. And some who might be a little greedy. And from what it seems like one whale wallet is keeping Doge down right now by dumping a reportedly 1 million in $Doge every 15 minutes.
Here is what the Reddit user posted which is now going viral:
*** WARNING! WE ARE BEING PRICE-SUPPRESSED! ***
ONE whale wallet is almost singlehandedly keeping $DOGE down by dumping 1 million $DOGE every 15 minutes, and slowly walking down his limit sell price:
He’s been doing it since April 16th, and at his current rate, it will take him ~118 hours (or 5 days) to liquidate. His sell limit is $0.324, meaning the highest price for this asset will hover at this price, or whatever he changes his sell limit to, for at least the next 5 days when he runs out of money, or until he stops selling.
Assuming it’s not a a sell-bot, if he ever leaves his terminal, that’s when the rocket leaves the pad, until he starts selling again. If this is automated, it should last at least 5 days and could walk the price down into the 20 cent range.
It’s pretty obvious this guy is trying to provoke a mass panic-sell, so don’t allow yourself to be psychologically manipulated by this tactic, it’s as old as the market.
SPREAD THE WORD.
We can buy the dips and hold longer than he can continue to sell.
$DOGE has a market cap of $50 billion with 130 billion coins in circulation.
$ETH has a market cap of $250 billion with 115 million coins in circulation.
$DOGE is more popular than $ETH by far. When $DOGE attains the same market cap as $ETH, IT WILL BE WORTH ~$2 PER COIN!
As far as the “inflationary” FUD goes, ALL COMMON CURRENCIES HAVE TO BE INFLATIONARY, like the dollar, to account for lost currency, only stores of value like Bitcoin and gold have a finite supply. $DOGE has 130 billion coins in circulation with a constant 5 billion or less added each year. This small 4% inflation rate this year matches the dollar, and predictably decreases over time as the number of Dogecoins in circulation increases, just like the US Dollar.
$DOGE being “inflationary” is good, not bad, and qualified it uniquely to be the global electronic currency.
Good luck to all.
(Note: While I usually apply a paranoid mindset to manipulation like this, it could be a whale trying to walk the price down low enough for some cronies to have a good entry point, or thinking altruistically, perhaps even to allow retail investors who were shut out, to have a good entry point. But nah, he’s probably just a greedy bastard who resents the success of Doge because other coins supposedly have “better fundamentals”, and Doge is taking a hammer to their price graphs over the past week.)
EDIT: I found out why this is being done, it’s not altruistic and is manipulation. It’s some foreign billionaire using what is likely a Chinese Binance wallet (according to a very computer literate friend of mine) to fuck with us. I’ve only found one whale wallet doing this, but it may be a group of several like-minded foreign billionaires trying to hurt the American middle class because our love for Doge has caused their favorite coins to go down a lot in the last 5 days or so. Read this thread where it appears to be more than one very wealthy foreign white supremacist person coordinating this: /biz/ – I am FUCKING LOVING the slow bleed. Reddit – Business & Finance – 4chan (4channel.org) DO NOT FALL FOR THE MANIPULATION, he/they can’t seem to take it below 30 cents with all the buy pressure, even with this well-coordinated ladder attack, and he/they will run out of money eventually. Finally, create awareness and SPREAD THE WORD to keep him/them from winning.”
A video posted by Matt Wallace who hosts one if not THE most popular Doge focused channel on YouTube, talks about it below:
Matt Wallace breaking it down on video always helps. I’m glad that he is going to try and figure out who it is and maybe post a documentary style video about it.
This all seems crazy to me. All that I know is that I continue to buy the dips. And for those who were upset about Doge not hitting $1.00 there are plenty of reasons to be happy – more opportunity.
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