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The tragic downfall of a dogecoin millionaire

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The tragic downfall of a dogecoin millionaire

Almost a year ago I met up with a man who maxed out his credit cards invested his life savings and threw it all in a moonshot opportunity that he believed would make an obscenely rich. Just 69 days after his initial investment, he was able to turn his $180,000 into a million dollars, few days after Andrew Jack met the millionaire in person where they went through a heated debate about whether or not he should sell everything at 25 cents or diamond hands until the price of Dogecoin reaches $1.

Long story short, he didn’t sell, initially, this worked to his favor because the longer he held on the more his account grew, the more praise he got, and not too much longer after that his account grew to a peak of nearly $3 million, at which point he quit his job in favor of this new opportunity.

Now, again, you would think that turning $180,000 into $3 million in three months would prompt you to sell everything, buy a house in cash and live off the returns for the rest of your life. But no, he wanted to wait for it to hit $1 And that’s when I got a knock at the front door.

Sure enough, it was them and after begging him to sell and lock in the profits, he kept holding to the point where now his Dogecoin portfolio has lost about 90% from its peak and is currently worth just over $300,000 so today one year later, I’ve reconnected with the Dogecoin millionaire to see his account hear his thoughts and get an update on one of the craziest stories. 

The tragic timeline of Dogecoin

Alright, so first we got to talk about the timeline of Dogecoin. it is true that it started off as a joke between its creators in 2013. It was never meant to be taken seriously and it was never designed to be used as a currency. The wonderful nature of the dogecoin made it irresistible for people wanting to buy and hold on to it and over time it began growing in popularity and price. just two years ago it was trading at 1/5 of one cent meaning had you just invested $1,000 today would be a 4,002% and your $1,000 investment would be worth $40,000.

So what happened to cause this insane rally? Well, we should look at what started all of this in the first place. And that’s what brings us to few main catalysts.

2018: Trading on Robin Hood – price 0.002 cents each

In 2018, when Robin Hood announced their cryptocurrency platform Dogecoin was added to the list as an additional option that people could buy and sell that gave it significantly more exposure and allow its users to buy in as they would any other stock which of course boosted up the price.

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2020: Tiktok challenge – price 0.0043 cents each

Shortly after the pandemic, a viral video began appearing on TikTok known as the Dogecoin challenge. It made the argument that the value of Dogecoin is practically worthless and the following 100 million users have TikTok each invested $25 They could drive up the price to $1 and turn that into a nearly $10,000 profit. Well, sure enough, thanks to the virality of that video, the price went up 43% in 48 hours, and even though it didn’t hit $1 It was still very impressive.

December, 2020: Elon Musk price 0.003 cents each

This is where Elon Musk tweets his support for Dogecoin with just one word don’t shut off this increased the price by 30% in 24 hours and that is where things started getting out of control.

January, 2021: Reddit – price one cent each

Just like Wall Street beds turn their attention to Gamestop and AMC causing the price to skyrocket. They also turn their attention to Dogecoin which further soared another 600% to a value of nearly four and a half cents each.

February, 2021: Elon Musk – price one and half cents each

Just as the Reddit craze for Dogecoin began to stabilize. Elon Musk tweeted his support again calling it the people’s crypto causing the price to go up almost 50% instantaneously.

Elon musk support for dogecoin

April 20, 2021: Doge Day – price 36 cents each

Leading up to this was a huge push of excitement supported by Elon Musk continually tweeting about putting Dogecoin on the moon.

Billionaire Mark Cuban spoke in favor of it and a multitude of other businesses voiced their support to eventually accept it as payment that causing the price to go parabolic.

May, 2021: The Perfect Storm – price 72 cents each.

 I call this the perfect storm because multiple catalysts all converged at the exact same time causing it to almost hit $1. Several brokerages incorporated Dogecoin under their platform and with Elon Musk’s SNL skit many people believed that the mere mention of it would cause the price to exceed $1 however, June, 2021 we had the crash of dogecoin, tand he price dropped to 30 cents each shortly after the Dogecoin SNL episode, Robin Hood trading temporarily crashed from all the activity causing the price to quickly and substantially fall.

At the same time, the entire cryptocurrency market began to fall from environmental concerns along with security risks when the US seized $2.3 million Bitcoin ransom. As the Federal Reserve began pulling back on their stimulus and raising interest rates. Investors took the risk off approach as they sold their speculative investments causing the price to fall at the same time investor enthusiasm for meme coins begin to dissipate sending Dogecoin as well as nearly every other cryptocurrency into a slow decline where the bottom is anyone’s guess. So where do we stand as of today?

 Well, in the past Mark Cuban stated that meme coins like Doge only work if they gain utility and users use them for that utility. In other words, there’s an infinite number of Dogecoin that could enter circulation at a rate of 5 billion a year. The only way for it to consistently stabilize for the increasing price is for more people to buy in and use it of course in terms of its growing popularity.

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WordPress announced that they would allow Dogecoin to be used as a form of payment. Gucci is rolling out Dogecoin options in-store and Elon Musk stated that SpaceX would soon be accepting Dogecoin for merchandise however, the CO creator of Dogecoin recently had some choice words to say in regards to SpaceX saying Elon Musk was always and will be a grifter, the world loves Grifters. They love the idea that they may also be a billionaire one day and that’s the dream he’s selling. So in terms of where we are right now, as well as the performance of my own cryptocurrency portfolio.

The conversation with a dogecoin millionaire

Let’s get a one-year update for the Dogecoin millionaire himself and see exactly how much his position is worth.

So now, do you regret holding so long?

“You know, human. yeah, I should have sold some”.

what if it doesn’t recover though? If it doesn’t recover, see, I look at those coins as a savings account. And I know that’s the very word I’m looking for? That’s very irresponsible.

But my plan is this; especially for this year,it’s as if I’m going to continue investing. I’m going to continue buying crypto but I’m going to lean harder on a theory on Bitcoin, you know, probably some Cardano”

Are you doing any other investments in the stock markets? Have you thought about maybe a good index fund?

Honestly, my biggest purchase in the stock market was Tesla. So if I was to go back into the stock market, I probably buy Tesla I probably buy Facebook. I probably buy some apple, these are just long-term holds for me”.

But regardless, you have no plans for like a good index fund.

Why didn’t you sell I would have felt like an imposter. Do you know what I mean?

I’m over here preaching and telling people Dogecoin is the way and cryptocurrency is the future and I just sell out as soon as I do,

Don’t you think with your following that you’re encouraging a risky behavior of speculative cryptocurrencies, or maybe things that have a high probability of going up and down.

I don’t sell people to Yolo I don’t, that’s not what I preach. I’m not I’m not like everybody YOLO like just throw your money away like No, I’m not doing that”.

How do you deal with all the negativity? Or any of the I told you so comments or made a big mistake? You should have listened?

I do get those almost daily”

Should we conclude that dogecoin is a bad investment?

All right now as far as my thoughts, on the one hand, are concerned it’s not hard to believe that in 2021 some speculative markets just got wildly ahead of themselves and now we’re seeing a new baseline value that’s yet to find its true frontier even though yes, it is down about 90% from the peak so are quite a few speculative stay at home stocks although to provide a balanced argument both for and against its future as a currency. Here’s what I have to say on a positive note;

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Dogecoin is actually pretty good when you use it for transactions. It said that Dogecoin averages around one minute to add a new block of transactions to the Dogecoin blockchain making the Dogecoin network more than nine times faster processing transactions than Bitcoin on top of that the transaction fees are significantly lower than Ethereum making it a better way to pay for small transactions. 

Second, anecdotally, there are quite a few people who believe it’ll follow the same trajectory as Bitcoin which routinely crashes 70 to 90% consolidates and then hits a new all-time high. So why not with Dogecoin, which has also risen, fallen, and recovered in the past not to mention even today after dropping from the peak, it’s still significantly higher than it was just over a year ago. 

Thirdly, I’ve also rarely ever seen a community as strong as Dogecoin. It seems to be held by the people who really believe in the principle they stand behind the message and they want to see it succeed and I believe it’s those people who make Dogecoin what it is today. However, all of that doesn’t necessarily mean it’s a good investment, and in terms of the downsides, here are my thoughts first, if it’s ever going to be taken seriously as a currency that can’t happen until the price stabilizes.

The fact is very few retailers want to accept that as payment beyond the marketing ploy when its price fluctuates plus or minus 20% in a week. So in my opinion, the real value of Dogecoin is going to come when people move on to something else they forget about it, and then it’ll have a chance to find its true value.

The reality is for every example of Bitcoin, there are dozens or hundreds that rise, fall, rise fall, and then just never go anywhere. It’s always possible that history doesn’t repeat itself and it’s up to you to understand the risks of investing in something as volatile as this and third in terms of value. There’s not a cap on supply, meaning the number of Dogecoin in circulation could be limitless. This makes it significantly more difficult to go up in price without a lot more people buying in all at the exact same time. It’s kind of like trying to run up an escalator that’s going down. It’s possible under the right circumstances, but it’s not sustainable to keep that up long-term. 

That’s why I believe that Dogecoin is going to have a very difficult time ever reaching $1 Without a significant push of enthusiasm at a level that we have not seen. In the long-term who knows anything can happen and I’ve been surprised in the past but for me, it’s not something that I can really wrap my mind around besides being a fun alternative store of value and potential investment under the right conditions. However, just be prepared to lose everything. 

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How to make money online with your WhatsApp status | Earn $15 weekly doing this

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Earn $15 from whatsapp status

In our previous article; Earn $100 daily from your Whatsapp status, today you are going to learn other methods on how to make money online using your Whatsapp status.

Table of Contents

What you need to get started

  • A phone
  • Whatsapp
  • Access to the internet

You can make use of any Whatsapp but I will recommend the Whatsapp Business app, Whatsapp Business has more features than the regular Whatsapp. Let’s get started.

Method 1: Druve

Druve is the first app we will talk about. Druve is a solution that strives to leverage WhatsApp status to earn or spread the word about your product, service, or event.

Druve - earn money placing contents on whatsapp status

Druve pays you to post advertisements on your Whatsapp status. Druve currently caters for two categories of people:

  • The first category is people who want their business, products and services to be seen and interacted with by a large audience at an affordable rate.
  • The second category is for those who want to earn by posting content about businesses on their Whatsapp status.
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For either categories, using Druve starts with downloading and installing the app from playstore using the link below.

Download Druve: https://play.google.com/store/apps/details?id=com.druve.druve&hl=en&gl=US

After downloading, you are expected to set up your account and boom, you are ready for business.

After you have created an account on the app, you will be notified as soon as ads are available to be promoted in your location. You earn from every ad you post on your status from druve app as long as you have at least 42 status views on each post.

The payment is made directly to your registered bank account based on view grade. All Ads on Druve come as an image and a link. You will be paid for posting the link and image.

Method 2: WhatsAd

The second method is WhatsAd, WhatsAd operates basically the same way as Druve.

WhatsAd - earn money from Whatsapp status

WhatsAd pays you for sharing content on your Whatsapp status. Download their App and get started.

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Download WhatsAd: https://play.google.com/store/apps/details?id=com.whatsad.app

Conclusion

That’s all you have to know about earning money from Whatsapp status in this article, you can also make money from other affiliate websites, to know more about this visit our affiliate section.

If you learnt something from this Article kindly share it with your friends.

Notice: We put a lot of hard work and research before writing this article, if you must copy make sure you link back with a do-follow link.
You will be reported to DMCA and other relevant authorities if you copy this article and ignore to link back to the original source.

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What are the best jobs for girls?

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What are the best jobs for girls?

If you are looking for the best job for girls, stay-at-home mum, profession for women, or home jobs for women then you need not look any further because, in this article, we shall be disclosing them to you. 

Which job pays the most money

Table of Contents

Introduction

As a lady, you can make a mark for yourself, work in places or organizations that are being dominated by men and make waves therein. 

There are a lot of jobs out there and ladies should be able to stand shoulder to shoulder with men occupying these spaces at all cost, as a lady, you can leverage your passion, creativity, and love for any job at all thereby standing out and be financially independent and successful in all facet. 

As a student, job seeker, or even a working woman, you can get your dream job and create a name for yourself in the long run. 

Below is the list of jobs that are best for girls, ladies, and working women:

  • Freelancing Job
  • Teaching Job
  • Sports
  • Beauty and Cosmetics
  • Fashion designing
  • Proofreading 
  • Sales and Marketing 
  • Digital Marketing 
  • Content writing
  • Online tutor
  • Yoga trainer jobs
  • Accounting Jobs
  • Law Jobs 
  • Medical Jobs
  • Counseling Jobs
  • Software developer amongst others. 
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Which Job is best?

This list goes endless and if we are to consider others then the ranking might be equal nevertheless here is our final note on the best jobs to go into today:

1. Anesthesiologists: 

The BLS defines anesthesiologists as physicians who “administer anesthetics and analgesics for pain management prior to, during, or after surgery.”

2. Gynecologist 

They are doctors specializing in vaginal, ovarian, uterine, and cervical reproductive health and childbirth, known as obstetricians-gynecologists. 

3. Surgeons

Surgeons perform operations to treat broken bones and diseases, such as cancer. Surgeons help manage the patient’s care before and after surgery. 

4. Orthodontist 

Orthodontists specialize in corrective measures for the teeth and are often referred out by the patients’ dentists. High-achieving orthodontists require good communication skills, as they work with patients directly, plus strong analytical and problem-solving abilities.

5. Psychiatrist 

While all psychiatrists help treat mental health issues, it’s a field with a vast range of specialties. Some work on child and adolescent psychiatry, for example, while others specialize in forensic (legal) psychiatry, addiction psychiatry, or consultation psychiatry, which occurs in a medical setting. 

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6. Air pilot and Flight Engineers

Working in the aviation industry can mean a lot of time away from home, but it also leads to a nice paycheck in many cases. Flight engineers do preflight checks, monitor the plane’s cabin pressure, assess how much fuel is being burned, and perform other important duties.

7. Computer and IT managers 

Computer and information technology managers function to oversee electronic data processing, information systems, systems analysis, and computer programming. They evaluate the information technology (IT) needs of a business or government body and work with technical staff to implement computer systems that meet those objectives.

Which job pays the most money?

Are you interested to know which job pays the most money and spicing up your daily diet, this article unravels those listings for you? Everyone wants to be successful and to become this we need to follow a career path that will lead us to achieve those results. 

Now, it’s time to take sit on your sofa, get a coffee to sip, and lower your back as you read on. 

1. Surgeons

2. Pilots

3. Sailor 

4. Judges

5. Medical doctors

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6. Medical Laboratory Scientist 

7. Radiographer

8. Physiotherapist

9. Petroleum engineer

10. Lawyer

11. Military officer

12. Software engineer

13. IT

14. Entertainment 

15. Nurse 

16. Pharmacist 

17. Graphic designer. 

18. Aeronautic engineer 

The list goes on and on, it’s time to jump into one and dive deeper. 

What job has the highest paying salary?

The so-called degrees or any other qualification in Nigeria are as good as useless and trash in today’s Nigerian labor market. The core reason is there are no employable job vacancies in the field to recruit graduates of such fields or the pay accrued is somewhat nothing to write home about. 

Nigeria is the giant of Africa but the rate of unemployment is at its peak. 

This is a must-read for everyone who needs to consider a high paying job in this harsh economy:

1. Health jobs

2. Digital Marketing 

3. Sales manager and jobs

4. Entertainment 

5. Petroleum engineer 

6. Communication jobs

7. Legal jobs

8. Financial Accounting jobs 

9. Business manager

10. Software engineer

11. Data Analyst

12. Pilot

Check: 13 Best Jobs for Women in the 21st Century

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What is financial planning in Business?

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What is financial planning in Business?

Financial planning is the process of estimating of capital necessary for accomplishing the organization’s business activities and also aids in the creation and planning of financial resources for the future.

What is financial planning?

It relates to the provision of assets, investments, and an organization’s funds management. Financial planning is the process of formulation of goals, policies, procedures, programs, and budgets that refer to the organization’s financial activities.

Financial planning means:

  • Providing appropriate funds
  • Providing an appropriate balance between the incoming and outgoing funds.
  • Preparation of growing and development programs that ensure the long-term sustainability of the organization.
  • Decrease of uncertainty regarding market changes that the organization may face.
  • Decrease of the uncertainty which could affect the organization’s growth, helping to provide stability and profitability.
  • Financial planning means predicting, directing, synchronizing, and premeditated distribution of the elements of an organization’s finance function.

How is financial planning important?

Financial planning helps you to make the best financial decisions based on your needs, goals, and objectives. Additionally, it helps you be in control of your income, expenses, and investments such that you can manage your money.

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You need to note that the most important initial element in financial planning is Budgeting.

For a Budget, you need to:

  • Understand what you spend over a year
  • Set a budget to cover your living costs and all your holidays and entertainment
  • Stick to the budget
  • Reduce your short term debts, such as credit card balances
  • Establish an emergency fund

What are financial planning tool?

Inasmuch as there are paid tools for your finances there are some free tools that are ready and set to go for your financial plans and they include:

  • Social Security Retirement Estimator
  • Retirement Ballpark Estimator 
  • Mutual Fund Amalyzer 
  • 529 Expense Analyzer 

Check: What Is a Financial Plan, and How Can I Make One?

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