When the roaring bull market in the crypto market gradually deepened, the direction of money bets in the market and the investment preferences of retail investors had an obvious tendency to involute (Note: involute is generally used to describe a field where excessive competition has occurred, leading people to enter a state of mutual collapse and internal conflict.) While BTC was stagnant, mainstream coins and cottage coins came out with a very bright performance compared to BTC, with new highs of new highs and daily gains of 20% or more.
In this scenario, there is a coin, no technical content, no grand vision, economic model genus keeps increasing, under the strong amenity of Musk, up 3,412% in the last three months, up 441% in the last 30 days.
Immediately after, perhaps inspired by dog coin, Shiba Inu (SHIB) coin SHIB was created in the last two days and spread in the cryptocurrency community, up 1278.72% in the last 7 days.
As a result, the in-roll between animal coins has become more and more obvious. AKITA INU Akita Dog has gained 1278.72% in the last 7 days; Aragon-ANT has gained 96% in the last three months; BSC has gained 105.47% in the last 30 days; PIG has gained 310.00% in the last 30 days; SDOG has gained 100% in one hour of its launch.
Why does the market choose dogcoin?
In any financial market, investors will vote with their feet: because of the surge, with the help of the contract leverage, many people thereby achieved financial freedom, stimulated by the existing facts, expanding the market’s FOMO sentiment, so much so that dogcoin came out of a diametrically opposed trend to BTC, BTC fell, dogcoin rose.
On April 15, Dogcoin surged 50%; on April 16, it surged again, once up 250% in 24 hours. Dogcoin has been difficult for small coins to encompass, and in fact, Dogcoin’s market capitalization has been among the top 10 of the overall crypto market project market capitalization.
- There are scenarios
Dogcoin can be rewarded to each other on Reddit before, or the kind of exceptionally high frequency, because it is so cheap that it is almost worthless, so everyone is rewarding each other in tens of thousands or millions ……
Although dogcoin is not much technical content, just two engineers take the code of bitcoin and change it, but this does not mean that you can launch a double flower attack on dogcoin: dogcoin after realizing that its POW is too fragile, chose to embrace the big leg, changed to the same algorithm as litecoin, so litecoin miners are double digging, while out of the litecoin, while out of the DOGE.
Why did dogcoin start to explode at this point in time?
Perhaps we can start with the “war of power” of retail investors in the U.S. stock market at the beginning of this year, the story is as follows: the U.S. stock market short-seller Citron lost GameStop, and retail investors grouped together to pull out the stock price.
On Tuesday, Jan. 19, Citron said in a post on its social media account that buyers of GameStop stock were “the losers in this poker game” and that the stock’s price would soon return to the $20 level.
But that statement “stirred up a hornet’s nest,” as Reddit users rallied against Citron’s comments, even targeting Andrew Left’s family. Meanwhile, these retail investors are collectively pushing up GameStop’s stock price in order to squeeze out the short positions of institutions like Citron.
In the continuous group of retail investors to join, GameStop shares soared nearly 80% in a single day, 30 times in less than a year, shorting institutions continue to burst to raise the stock price, and finally had to seek off-site assistance.
Retail investors can not do institutions? My Lord, times have changed, back to this section, why at this point in time dog coin began to explode? In fact, this question can also be asked like this, when did the market cap of dogcoin surpass that of bitcoin? Perhaps many people will find this question a bit whimsical and assert that dogcoin does not have value, so how can the standard of measuring value be grasped?
When everyone, inside and outside the circle, knows that dogcoin has no value, but has a market cap of tens of billions of dollars, it may somehow have value, just as Wall Street short sellers think GameStop stock is not worth much, but retail investors can get rich from the GameStop stock surge.
The market is responding to the consensus that “dogcoin can still skyrocket”, because dogcoin is fragmented enough, it is difficult for the bankers to control the market, the process of collecting chips is the process of buying, and this will only make the price of dogcoin higher, and the short sellers who burst their positions have become the best fuel for the rise of dogcoin. The best fuel for the rise of dogcoin, let us still in the market floating, see a glimpse of the dawn of rapid wealth.
Will we ever meet “dogcoin” again?
When the variant version of dogcoin, SHIB, rose 1278.72%, there are more reasons to explain why SHIB is so good, but from my personal point of view, perhaps the market has forgotten the original intention of crypto assets, which is decentralization, and decentralization means community domination. SHIB’s future development prospects, token prices continue to rise to drive fomo sentiment, token economic model completely decentralized way, more equitable, and fairness this attribute, the bankers are the first to disagree.
So, under the success of dogcoin and SHIB, new and creative thinking and models continue to emerge, for example, have you ever seen a project that airdrops 35% of the total tokens? And all the tokens of this project are produced in a completely decentralized way, oh yes, except for the 5% part of the airdrop to each of V God and Musk.
This project is called puppy coin, well, this project according to its official website is a revolutionary experiment launched by the decentralized community, I agree with this, this airdrop percentage and the way the tokens are distributed, indeed in line with the revolutionary experiment:.
Retailers challenge institutions? Another Intention of Puppycoin
By browsing the official website of puppycoin, we can learn that the airdrop of puppycoin is very interesting, as long as you hold puppycoin in the community-supported whitelist exchange, you can enjoy the airdrop of puppycoin, which is very friendly to the users who already have puppycoin holdings, and users can also directly mine on the puppycoin protocol after receiving the airdrop of puppycoin. The exchange can get the airdrop of puppycoin as long as it supports puppycoin, and this airdrop can also increase the stickiness of users after it is given to puppycoin-holding users.
The question arises, it is hard to say what height puppycoin will eventually reach, whether the market will embrace such a decentralized approach, whether the consensus and power of retail investors can drive the development of the project itself, all these issues are open to debate, that is, whether the exchange will be optimistic about puppycoin and shelf puppycoin depends on the confidence of retail investors in puppycoin and the degree of optimism in the future. For example, if Exchange A is on the puppy coin airdrop whitelist and Exchange B is not, then users who hold puppy coins on Exchange B will withdraw their puppy coins to Exchange B in order to get the puppy coin airdrop.
If enough users withdraw their coins, it will force the exchanges to seek cooperation with the puppy coin community, and the more exchanges that support puppy coin, the more they will also feed the market performance of puppy coin. Every exchange that supports puppy coin is a victory for the milestone of puppy coin stage development, which eventually promotes puppy coin to become the mainstream coin in the market and become the example for the later, which is perhaps the ultimate experimental purpose of the puppy coin community?
As of now, Puppycoin has received whitelist applications from four institutions (including ZB Exchange, CoinW Exchange, HOO Tiger Exchange, and HyperPay Wallet) and has indicated that it will go live with trading pairs. And the performance in Uniswap is not bad either. In the 15 days since the launch, the price has increased 23 times and the daily trading volume is over $2.6 million.
A star can start a fire, and we may see more and more interesting community experiments that make the current crypto market more colorful.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/a-victory-for-retailers-starting-with-the-consensus-driven-surge-in-dogcoin/
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