So we all remember the time when dogecoin first came out, it was such a hyped-up altcoin, and everybody was excited about it. People start investing into the coin, and then it ends up sky rocketing! Who here was one of the people who invested into dogecoin while it was around the 60 cent mark, and wanted it to go up even higher, but then ended up losing a ton of money? Well I’m one of those people, and currently, dogecoin seems to be doomed, and I haven’t seen it get past the 10 cent mark in so long, and doubt that it will anytime soon. Coin doesn’t seem to be going anywhere, so for that could we get an RIP dogecoin in the chat? 😢🙏
Pretty sure you are one of the many people who bought dogecoin when Elon Musk used his power to influence the market which made the price of this meme coin rise very high and now it has fallen at least 80% from the last ATH, but for those who invested when the price of dogecoin it's still very cheap and even they can get it for free and quickly via the faucet, they will still consider this meme coin to be one of the coins that give them big profits.
The lesson is to never buy coins when the price is already high because we never know when whales will dump their coins in the market, because they have reached the desired profit target and that's what whales always do, collect them when they are still cheap, influence the market and dump them away when they have made big profits.
Sorry for the loss you experienced but there are many more losses in other meme coins such as Shiba Inu and all coins that use the name of Inu in front or behind the name of the coin.