Created as a cryptocurrency parody in 2013, Dogecoin languished for years. Making money would be nice, but she’s not depending on it. Yet, here we are in 2021 and Dogecoin is carrying a market capitalization of $78 billion, up about 10,500% year-to-date. Her investments — she picked up GameStop and AMC during the “meme stock” frenzy — have a personal significance, too. CNN reported that Dogecoin jumped 20% on Tuesday as cryptocurrency fans celebrated Doge Day. Here are some of their stories, and what they’ve learned from this moment (so far). “This was like, literally, just a joke.”. Today, Ms. Hunter-Kettner is married and middle-aged with grown children in Fort Collins, Colo., where she runs her own business: an industrial nondestructive testing firm. Dogecoin was started as a joke in 2013, a way to poke fun at some of the wild speculation in cryptocurrencies. Mr. Lenz resigned himself to the fact that his coins were gone. Just because Dogecoin is sort of silly, Mr. Durrett said, doesn’t mean it’s meaningless. “If God wanted me to have the money, I would have had the money,” he said. 7 hours Dogecoin Went Wild in 2021. He’s taken with some of the theory — or at least the memes — surrounding Dogecoin. He’s unloaded some of his Dogecoin already and has a sell point for another chunk. “We keep motivating each other constantly. “It’s a joke coin. “Doge is not something that most people get into for the meaning behind it,” he said. At one point in May, its value jumped to more than $0.74. Are you kidding me?” The community around Doge, she said, “is a refuge against that hellscape.” In crypto, she said, “we get to be maniacs.”, “I’m not one of the anarchist crypto people,” said Aaron McCray, a multimedia designer for a major financial firm who lives in Detroit. Two software engineers — IBM’s Billy Markus and Adobe’s Jackson Palmer — created Dogecoin in 2013 to lampoon all the altcoin wannabes that popped up after Bitcoin rose to blockchain fame. All Rights Reserved. https://www.nytimes.com/2021/05/15/style/dogecoin-cryptocurrency-investment.html. © 2021 - Verve times. “I am not kidding you when I say I YOLOed it,” he said, on shares of the hedge fund manager Bill Ackman’s SPAC, Pershing Square Tontine Holdings. ... Just like many people are regretting not putting $11 into Dogecoin when it went for one-zillionth of a cent. Created as a cryptocurrency parody in 2013, Dogecoin languished for years. What have its holders learned? It started out as a joke. (“I’ve been frustrated trying to get my 18- and 20-year-old sons onboard,” she said.) The selloff hurt the community and caused any interest that Dogecoin had going to fizzle out. Dogecoin, Lost and Found. We are nearly reaching $1. Your email address will not be published. In recent weeks, he said, “it’s really outpacing what I make in income.”. Heath Durrett, a 35-year-old from eastern Oklahoma, spends his workdays performing X-rays on oil pipeline welds, looking for flaws. “I like to say we’re at the days of the 300-baud modem, putting the phone over the receiver to get the transmission,” she said. Here’s What It Taught Us. (The term refers to the mascot of Dogecoin, a shiba inu.) If Dogecoin gets to $30, he says, he’ll be a millionaire. meant to mock the self-serious cryptocurrencies of the time. She has continued buying in small increments and currently has about 35,000 coins. Dogecoin is a joke — or at least it started out as one. (Mr. Dogecoin is listed on countless popular platforms, including Binance, Kucoin, Crypto.com and BitMart, but Coinbase is the odd one out. “I never risk what I can’t afford to lose,” he said. The cryptocurrency that started out as a parody less than a decade ago has been on a wild ride this year as individual investors have piled in. Dogecoin Is a Classic Pump-and-Dump Scheme: These Stocks Are Much Smarter Buys With no tangible catalysts, things are not going to end well for momentum-chasing Dogecoin traders. “Even more, I started to watch the way people interacted with each other.” On subreddits for Bitcoin and Ethereum, she noted, “there was too much negativity.” Doge, she said, “is more of a feel-good-type community.”. Musk called dogecoin “a hustle” on the show but also said that it is “the future of currency” that’s “going to take over the world.” If Dogecoin tanks, no big deal. Mr. McCray doesn’t claim expertise in finance, but he did spend years as a competitive online gambler. His unusual confidence in Dogecoin derives, he said, from the strength of its community. Last week, as social media-inspired speculation lifted the stock prices of widely belittled companies like GameStop and BlackBerry to dazzling heights, Dogecoin went along for the ride. When the pandemic hit, Vickie Richards, a 58-year-old shipping and logistics professional in Pennsylvania’s Lehigh Valley, stayed busy and employed. “After feeling so beat up emotionally, after the last presidency, the way the pandemic was not taken care of properly, then I come up with a brain tumor diagnosis, and now I’m going blind? Wise ended up racing in a Doge-wrapped car. Wise ended up racing in a Doge-wrapped car. Elon Musk urged Dogecoin's largest owners to sell most of their holdings as he expressed concern about a small number of people hoarding too much of the cryptocurrency. Here’s What It Taught Us. Here are some of their stories, and what they’ve learned from this moment (so far). In 2013, two friends who met in a chat room created Dogecoin as a joke. She bought her coins when the price was $0.04, investing personal funds she had earmarked for donation to her nonprofit. 393 members in the TrendingQuickTVnews community. Then came 2021. Dogecoin Went Wild in 2021. Dogecoin features the face of the … Ethereum, the second-largest cryptocurrency after bitcoin, has shot higher this week, adding a staggering 25% to its already huge recent gains. It’s a bit more of a gamble and fills the space that poker, DraftKings and PredictIt (which he’d used to bet on election results) once did. Dogecoin appealed to her. Richard Lenz, a 31-year-old project manager for a hazardous waste removal company in North Ridgeville, Ohio, bought his Dogecoin in March 2014, after a subreddit for NASCAR fans banded together to sponsor the driver Josh Wise using cryptocurrency. Then, in 2021, it went absolutely wild. Dogecoin (/ ˈ d oʊ (d) ʒ k ɔɪ n / DOHZH-koyn or DOHJ-koyn, code: DOGE, symbol: Ð) is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a joke, making fun of the wild speculation in cryptocurrencies at the time. Then, a couple months ago, Mr. Lenz started seeing headlines about Dogecoin’s price surging. “This stuff is the next permutation of that.”. “This was like, literally, just a joke.”. He also started getting nervous: He knew he’d stored his coins on his old computer’s hard drive, but he wasn’t sure where that drive was. Share. Extrapolated out to $1, that brings Dogecoin’s capitalization to $129.43 billion. We are setting our targets higher, to $10.”. Last February, when Glauber Contessoto decided to invest his life savings in Dogecoin, his friends had concerns. “I am not kidding you when I say I YOLOed it,” he said, on shares of the hedge fund manager Bill Ackman’s SPAC, Pershing Square Tontine Holdings. (Mr. “I saw the internet being born,” she said, describing her time on dial-up bulletin board systems in the 1980s. (After “S.N.L.,” where Mr. Musk joked about the currency, the price tumbled.). He also started getting nervous: He knew he’d stored his coins on his old computer’s hard drive, but he wasn’t sure where that drive was. CoinShares chief strategy officer Meltem Demirors is saying that Dogecoin’s (DOGE) recent eruption is a sign that the crypto mania is just getting started. Most cryptocurrencies are subject to wild changes in value from time to time, and Dogecoin more than most. For those who bought the currency when it was virtually worthless, perhaps as a long-forgotten joke, things have been substantially weirder. Dogecoin has found a use, of sorts, as a way of tipping Reddit users for funny or informative social media posts, and in principle is a perfectly good cryptocurrency, as these things go. “We have let the market dictate how the world is run for too long. “First of all, we are going to the moon,” he said in a refrain common among Doge investors. Crypto’s wild ride: It’s winning fans from here to Wall Street. Here’s What It Taught Us. “But I think one of the reasons I got into it is that I realized money is basically fake and made up of nothing.”. He’d rather be a part of it than not. A major draw is feeling like she’s part of something culturally significant. It might be Year of the Ox in China, but for the crypto world, it is the Year of the Dog. As a logo, they chose a Shiba Inu from a meme called Doge, which went … “I would like to see it in a year.”. The price of Dogecoin, a cryptocurrency created in 2013, is surging now. Somewhere, he had $10,000 worth of Dogecoin, then $40,000. Erik van der Zanden, who is 30 years old and works in student affairs at Leiden University in The Hague, is active on the Dogecoin subreddit, sharing inspirational memes and arguing with “paper hands” users, nicknamed for their unwillingness to hold. For him, Dogecoin has been both an investment and a conversation starter. His Dogecoin holdings have increased in value lately, but so have his other crypto holdings. Somewhere, he had $10,000 worth of Dogecoin, then $40,000. Dogecoin reminds her of her youth. He bought the currency when it was priced around $0.05 and regularly trades stocks on Robinhood, so he’s used to fluctuations in price. Per CNN, the cryptocurrency — which was really began as a meme and … Dogecoin’s reputation was harmed, and its price potential hurt when TikTok users attempted to pump and dump the cryptocurrency. Then, a couple months ago, Mr. Lenz started seeing headlines about Dogecoin’s price surging. ), “Within a year I was done,” he said. “For a long time I’ve been angry at the people who manipulate the market for their benefit,” he said. The joke did, though, and it spawned a community of enthusiasts who kept it alive for years — at a negligible price. “My father was kind of upset,” he said, a feeling that intensified as the price climbed. best subreddits for self promotion community is extremely active and the thread gets updated with … “If God wanted me to have the money, I would have had the money,” he said. Dogecoin’s vibe sets it apart from his other cryptocurrency holdings, he said. Still, he’s curious to see what happens. “Don’t get me wrong, trying to convince someone to use U.S. dollars to buy something that’s not worth anything — but if they do it will be worth something — doesn’t always end in agreement,” he said. “Money is always fun to talk about,” he said. Dogecoin had a wild week that resulted in a quick rise to a steep drop within the course of a couple of hours, and now questions exist as to what investors will do next. “This is growing every day with tens of thousands of new members, and as long as this community keeps growing, I am of full confidence that we will reach the moon.”, Jade T. Hunter-Kettner credits her interest in Dogecoin to a long life online. She started looking for new ways to raise money and thought back to when she’d been approached, years before, to join a Bitcoin multilevel marketing company. The earliest investors made money while the rest of the users were dumped on. “You’re playing your odds, and you’re weighing your risk,” he said. “I think it does have a bit of a future,” Mr. McCray said. Then, on May 7, the day before Elon Musk was slated to host “Saturday Night Live,” he found the drive and sold his coins immediately, for around $70,000. “My father was kind of upset,” he said, a feeling that intensified as the price climbed. Little more than a picture of a Shiba Inu captioned with nonsensical phrases, Doge was the perfect encapsulation of the Internet’s inherent absurdity. Named after a meme of an expressive dog, it was meant to mock the self-serious cryptocurrencies of the time, many of which never took off. Dogecoin, Lost and Found Richard Lenz, a 31-year-old project manager for a hazardous waste removal company in North Ridgeville, Ohio, bought his Dogecoin in March 2014, after a subreddit for NASCAR fans banded … Created as a cryptocurrency parody in 2013, Dogecoin languished for years. (After “S.N.L.,” where Mr. Musk joked about the currency, the price tumbled.). Then, in 2021, it went absolutely wild. Then, on May 7, the day before Elon Musk was slated to host “Saturday Night Live,” he found the drive and sold his coins immediately, for around $70,000. Will Dogecoin Go … “They were all like, you’re crazy,” he said. Dogecoin is a slightly less serious approach to the world of cryptocurrencies than Bitcoin. Dogecoin rise. Israeli airstrike in Gaza destroys high-rise building housing media, other offices – National, Delhi riots: Court denies bail to former AAP councillor Tahir Hussain, Google aims to make a more inclusive camera, Android 12 public beta is now available: here’s how to install it, Hillicon Valley: Democrats urge Facebook to abandon ‘Instagram for kids’…. He plans to hold at least half of what he has. Mr. Lenz resigned himself to the fact that his coins were gone. Richard Lenz, a 31-year-old project manager for a hazardous waste removal company in North Ridgeville, Ohio, bought his Dogecoin in March 2014, after a subreddit for … Dogecoin is a cryptocurrency based on the "Doge" meme, which rose to popularity in late 2013. Right now Dogecoin’s market cap is more than $6.86 billion and trading at around 6 cents. Verve Times - Latest News around the World, Richard Lenz, a 31-year-old project manager for a hazardous waste removal company in North Ridgeville, Ohio, bought his Dogecoin in March 2014, after a subreddit for NASCAR fans banded together to sponsor the driver Josh Wise using cryptocurrency. But a nonprofit organization she helps run, which assists small police departments in acquiring, training and supporting K-9 units, needed help. “Reddit is the home base for Dogecoin, and we currently have about 1.7 million ‘subshibers,’” he said. Article content (Bloomberg) — Dogecoin investors had a wild ride this weekend. What have its holders learned? Mr. Lenz gave a chunk of the money to his parents and plans to help pay for his sister’s wedding. On Jan. 1, a single coin was worth $0.0054. Dogecoin has a wild ride this weekend starting with Elon Musk’s Saturday Night Live (SNL) and ending with Spacex saying it will launch DOGE-1 mission to the moon. (As of this writing, its price was hovering around $0.40, with a market capitalization of $49 billion.). By Adrian Jhonsan On May 15, 2021. “It was incredibly inexpensive,” Ms. Richards said. Dogecoin Went Wild in 2021. For new Dogecoin holders looking to make a buck, it’s been quite the ride. As for the rest? “I started looking for it a month, two months ago, and couldn’t find it,” he said. The New York Times . “I am going to hold it for quite a while,” she said. Mr. Lenz gave a chunk of the money to his parents and plans to help pay for his sister’s wedding. Coinbase, which went public last month, does not yet support it. A boom in retail trading and cryptocurrency investments, spurred in part by boredom and the arrival of stimulus checks, led people back to Doge. Dogecoin to the moon.. Dogecoin — a cryptocurrency that uses the Shiba Inu dog for its logo — recently surpassed 10 cents in value for the first time in its history, which is a huge markup from its value of $0.0023 cents back in summer 2020.. Save my name, email, and website in this browser for the next time I comment. She started buying cryptocurrency last year. “I started looking for it a month, two months ago, and couldn’t find it,” he said. Now I’d like to think that the tides have turned more to the public.”. She ended up on Reddit, reading about cryptocurrencies. To understand Dogecoin, you have to go all the way back to 2013 when the Doge meme first took the internet by storm. After hitting a record Saturday ahead of Elon Musk’s appearance on “Saturday Night Live,” the digital currency began to fall hours before the show began and continued to drop as he delivered his opening monologue. Fauci says new mask guidance ‘not a mandate to take masks…, PM Narendra Modi to visit Gujarat, Diu to review situation, 24 Cute Summer Date Night Outfit Ideas for 2021, Torah Bright responds to viral breastfeeding post on…. As for the rest? Then, in 2021, it went absolutely wild. 0. Dogecoin, the cryptocurrency based off a viral dog meme from nearly a decade ago, surged 30% on Tuesday to set a new record high at more than 50 cents per coin.. ), “Within a year I was done,” he said.
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