Dogecoin has bubbled and busted against Bitcoin many times in the past. Thus history suggests the current Doge bubble will pop quickly as well.
That said, this time is a bit different in that high-profile names are touting it and we know from GME and other WSB plays that anything can happen. I would be the last person to try to call the top or to say it can’t just keep running.
All I’m saying is that historically what is currently happening with Doge is far from abnormal.
People who haven’t been in crypto long probably feel that the current meme-coin Doge pump is groundbreaking or record-breaking, but it is really just par for the course so far. In fact, doge/btc still hasn’t even breached its previous ATH.
What to be cautious of here is that the dump on Doge is typically quick and painful and tends to leave very little time to exit a position unless you had been accumulating low. Again, maybe this time is different, but that is a bet one should take with caution given Doge’s history.
For people in the space a while the logic is “buy Doge low and then sell when it eventually pumps.” If that logic holds, one wants to be more looking for a top here than an entry. We will see though. All that said, fun ride for sure