Does anyone remember those years when you collect thousands of doge coin from crypto faucet sites back in 2018/2019?
I never used doge faucets but I remember the community, specially on reddit, used to give away Doge regularly. But the amounts weren't that high. Maybe in tens or best case scenario hundreds of doge.
I made a big mistake by swapping those doge coins for bitcoin cash.
If I had held the hundreds of thousands of doge when dogecoin pumped to $0.7 I would have made thousands of dollars. I feel bad sometimes whenever I remember this.
Thought to share this with all of you, do you have similar experience?
Back in 2018/19 price was like today, around 200 satoshi going up and down. Your mistake was swapping it for another shitcoin canned bcash instead of bitcoin. Your other mistake was thinking that you needed to bag hold doge to make profit. But that's not the correct way.
To make profit from doge or any other similar shitcoin that pump and dumps is to watch their market and try to make profit from their pumps.
Meaning you should have dumped your doge for bitcoin at 200 satoshis (I'm just taking an average price of those years) and when you saw the price pump in 2021 and price started going up from the dumped low at 18 satoshi, you jumped on board again just to sell after the pump in January at 43 satoshi to make a massive 138% profit. Imagine if you had bag held your coins, you would be in a 78.5% loss.
Then you could jump on board again after the 50% dump at 22 satoshis and rode the next pumping wave all the way to 260 satoshi to make a massive 1081% profit.
Then again you could repeat the same "pump and dump wave riding tactic" to buy back after 65% dump at 89 sat and ride the next pump wave to 1287 satoshi to make a ginormous 1346% profit.
This is what I think people should do in the shitcoin market to maximize profit. Not bag hold. Doge is worth 173 satoshi today meaning after 6-7 years it still is dumping.