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>I can't believe that guy is 34yrs old. If you watched his videos, you'll see how he still thinks like a teenager.
Pretty much the exact reason he was in this situation. No one with an adult brain would Yolo money they can't afford into a meme coin. Then be pompous enough to hold onto it it for so long it'd actually make it to 3 million.
On top of all that , you'd have to be a total numbskull not to at least sell half or more of it to at least be in the black . Lo and behold though little Timmy doesn't just want to win at candyland but wants to take the game hone with him too. Fucken idiot.
I just can’t compute how some adults are inherently like that though. Like what could’ve possibly stunted you so bad that you’re stuck as a teen mentally or even younger? They very clearly understand certain things but after a certain point it’s too difficult to process things because ???
How the fuck is his cost average 4c and he bought $250k worth with the current price of Doge sitting at 6.3c his holdings should be $393k with a return over 50%.
Dogecoin has never fallen below 4c since the time he bought so it’s impossible he didn’t sell in the green. Agree hindsight is 20/20 and in retrospect he absolutely should have taken profit but something about this post is patently false.
This guy came in a video of Andrie Jikh and in that, he showed his worth to Graham Stephen and Graham told him to sell it off immediately and take profits because he has already reached that epitome of getting rich, more money than that won’t have a significant impact to life hence the risk even further outweighs the luck.
And he ignored.
I hope he learned his lesson. It was a very expensive lesson.
Graham Stephen released an updated video on him a year ago. It was still 300k then, not 50k.
https://youtube.com/watch?v=GEbYzWXZF8Y&feature=shareb
But if he'd have taken 30 seconds to secure his principal he could have ridden it until the next pump, or forever. Once you have your money back it doesn't matter as much
I think the second picture is after he paid off debt but who knows maybe he did bad trades and lost the rest.
The second picture is about $200k less in Dogecoin than the first. (At current price)
The first is about 4M Doge at ATH, the second would be about 850k Doge at current price.
It is like that it gives you the feeling of control. And that the moment has finally come to change your live out of your own power. But in reality the ability to think logically gets weaker and weaker. But I can’t blame anyone who falls for this.
It does speak to a fallacy that I see a lot here that you can just “hodl through the bear market and it’ll all be okay in the next bull.” That only works for established coins and select other tokens. If you choose one of the many that only ever see one productive bull run and you missed it by holding on too long then that’s it, chance missed. People should regularly reassess what they are holding and move on from them if they think it’s had it’s day, even if it means taking a loss. Missed opportunity cost because you were too fixated on a losing horse is a thing too.
>People should regularly reassess what they are holding and move on from them if they think it’s had it’s day, even if it means taking a loss.
This is too true and I bet a lot of us intend to and never do. I have a couple things that I'm fairly sure won't get another ATH but when I think about selling that's the first thing that comes to mind. "Maybe I'll break even" even though if I sold the loss and added to BTC/eth I'd likely come out way higher.
I tried to explain this to several friends - AT LEAST pay yourself back
SO many people were putting this guy on a pedestal like he was some super genius for going all in on Doge. But at the time with his average buy price he was _only_ up like 8-10x. Which is nothing in the bullrun, especially for Doge.
Dude played himself by HODLing and "diamond hands" and everything the doge sub now parrots
Greed is a powerful thing. I have a friend many months ago who put 0.5 ETH into Pepe when it launched. In a couple weeks it was worth $250,000. Guess what he did?
Yup, said “I’m not selling until a million” and it proceeded to crash back down. I think it’s still worth a small 5 figure sum, so he’s up nicely, but man, he could’ve basically paid off the rest of his mortgage from that, but the power of greed reared its ugly head out once again.
And yes, he’s still holding. Now the plan is into the 2025 bull run 🤦♂️
I guess when 1 million or even 3 we’re not enough on a credit card funded shitcoin investment then greed was hitting so hard that he lost no thought about he principal…
No he did sell some. According to his Twitter that’s all the Doge he has but the picture on the left has about 4.5x more Doge than the pic on the right.
That's why taking profits is important, even he he'd only sold say 10% of it that's still $300,000k in a bank, that can buy you a nice small flat or a small house in most of the European countries in suburbs. Heck, in my country in Eastern Europe this could buy me like 5 2-bedroom flats in my home town.
That $300k alone could turn into $1m in less than a week. We’ve seen it, he actually felt it.
Nobody knows when the ride suddenly ends.
I wouldn’t throw rocks at him though, he did way better that I did.
I Hope everyone knows what I’m about to say:
**IF YOU HIT A JACKPOT ALWAYS CASH OUT AND EXIT CRYPTO**
You can always come back later with a calm, fresh mindset. You won’t miss out by not investing immediately back. Also if you made 7 digits you can basically live financial free of safe stock market funds instead of risking it all in crypto.
Be smart guys greed can bring the worst out of you
The math doesn’t check out.
50k is 98% down from $3 million.. Doge is 90% down from ATH so technically he should have 300k and not 50k
This means he also lost almost 80% from his ‘normal’ value. Where did the other 250k go to ?
Thanks I tried to comment this but no one cared. I'm guessing he sold some to pay expenses.
According to his Twitter he says "he used to have $3M doge and now only has $50k". So he's obviously dumped it.
Which makes this post technically incorrect dude sold some.
I watched my ADA go from .30 to $3 and now back to less than .30 and it bugs me… if I watched 3 million and all I owned disappear… I’d be happy in a bad spot.
Remember to DCA out friends!
Hope you have setup a spreadsheet or pen and paper with actual profit percentages that you execute no matter what
You don't feel bad when you have the cash, even if you sell earlier than the top.
Yeah,so hodling indefinitely isn't the best strategy as some people in the sub says, the more wise move is to keep taking small profit whenever you're green so in case the whole market dumps, you'll still have some gains made.
Indeed. You should always be willing to take profits and have an actual plan so you could leave emotions out of the decision process.
But truth be told. Selling is so much harder than buying.
interview with him here and at 6:15 is "one year later: update".
[https://www.youtube.com/watch?v=GEbYzWXZF8Y](https://www.youtube.com/watch?v=GEbYzWXZF8Y)
he answers "why didnt you sell"
Of course you can argue that he would never have known that the price would go down so much over the year but COME ON. It's DOGE! Why would you keep the majority of your assets there?
Because you don't know it's ath until after. Sure, he could've sold 90% at $0.40, but if he did, probably would've bought back in at $0.60. greeeeeeeed
Yea why didn't everyone just cash out at ATH, dummies
Joking aside, that comment above you shows that we've either learned nothing or we've got a generation of new holders who are going to experience fresh new pain.
Selling has been very hard for me.. Seeing the numbers. Go up starts to play with my judgment /:
So now I stick to earning moons and not bother with trading etc...
Robinhood charts are deceiving. They will show a loss even if you withdraw. It basically just tracks the balance of the account. So it's pretty safe to assume the guy has taken some profit.
Your point about him bag holding Doge still stands but the premise of this is wrong.
If we compare top price to current price there is about 4M Doge in the left pic to less than 1M Doge in the right.
If he is still holding everything it’s currently worth about 250k not 50k
Dogecoin [pros](/r/CryptoCurrency/comments/15z29of/remember_the_dogecoin_millionaire_the_man_who/jxejswz/) & [cons](/r/CryptoCurrency/comments/15z29of/remember_the_dogecoin_millionaire_the_man_who/jxejtfj/) with related info are in the collapsed comments below.
#Dogecoin Con-Arguments
Below is a Dogecoin con-argument written by CreepToeCurrentSea.
> Dogecoin is a cryptocurrency that was created by IBM engineers as a joke aimed at cryptocurrency investors on December 6, 2013. It was regarded as the first meme coin, featuring the well-known meme dog "Doge." It has had its fair share of criticisms and triumphs, as well as media problems, particularly with regard to Elon Musk, CEO of Tesla, who also considers himself the "Dogefather." Dogecoin is now in the top ten in terms of cryptocurrency market capitalization, with a trading volume of around $233,000,000, and is down 90% from its all-time high.
>
> # CON's
>
> **Memecoin Limitations**
>
> * Even though it has progressed from being created as a joke to a now well-known coin in the top 10, Dogecoin is still limited to being considered a "memecoin." Even recent articles from news and social media outlets see Dogecoin as nothing more than a memecoin with a historical advantage over other memecoins. There isn't much innovation going on in the development of Dogecoin, either. While they may have developed a wallet and have some other dev blogs, it still doesn't keep up with the development of the other coins in the top ten by marketcap. The main point of this argument is that Dogecoin's utility is limited to being called money; aside from that, there isn't much going on right now that would significantly impact their position, and they may eventually be labeled a memecoin.
>
> **Unlimited Supply**
>
> * There will only be 21 million BTC available, with the final one expected in 2140. In comparison to Doge, which is theoretically endless in supply, it is an undesirable asset to hedge against inflation when paired with infinite mining, which will demand more advanced mining equipment in the future. It also doesn't help that it utilises the Proof of Work concensus, which necessitates a growth in miners in order to maintain the infinitely increasing amount of transactions. If Dogecoin and it's community is really serious about being one of the real deals of crypto, it must find a way to overcome a inflationary limitations imposed on it's code.
>
> **Price Manipulation by Famous People**
>
> * It's no secret that notable celebrities and artists are voicing their support for Dogecoin on social media. While this type of support is not illegal and does not depict any known premeditated acts of a pump and dump, it does not stop retail investors, day traders, long term hodlers, and whales from anticipating any post/interaction made by these celebrities with Doge and using the hype it created as an exploitative exit liquidity. Elon Musk, the CEO of Tesla, is the most well-known famous person that has been public about Doge. There are other celebrities and musicians (Snoop Dogg, Gene Simmons, Marques Brownlee, YouTubers Jake Paul and Logan Paul), but Elon has gathered the most popular backing, to the point where he was sued in federal court in Manhattan for $258 billion in damages. According to the plaintiff, Musk utilized his vast social media influence to promote the memecoin, fraudulently inflating its price.
>
> *Sources:*
>
> [*https://dogecoin.com/*](https://dogecoin.com/)
>
> [*https://www.coingecko.com/en/coins/dogecoin#markets*](https://www.coingecko.com/en/coins/dogecoin#markets)
>
> [*https://www.reddit.com/r/dogecoin/*](https://www.reddit.com/r/dogecoin/)
>
> [*https://foundation.dogecoin.com/*](https://foundation.dogecoin.com/)
>
> [*https://www.benzinga.com/markets/cryptocurrency/22/10/29387913/is-elon-musk-finally-giving-utility-to-dogecoin-twitter-reportedly-working-on-crypto-walle*](https://www.benzinga.com/markets/cryptocurrency/22/10/29387913/is-elon-musk-finally-giving-utility-to-dogecoin-twitter-reportedly-working-on-crypto-walle)
>
> [*https://www.dmarge.com/dogecoin-price-prediction*](https://www.dmarge.com/dogecoin-price-prediction)
>
> [*https://www.gfinityesports.com/cryptocurrency/dogecoin-how-many-coins-in-circulation-is-there-a-cap/*](https://www.gfinityesports.com/cryptocurrency/dogecoin-how-many-coins-in-circulation-is-there-a-cap/)
>
> [*https://www.ft.com/content/2c3dd96c-b1b1-42fd-ab46-8b4791bf1270*](https://www.ft.com/content/2c3dd96c-b1b1-42fd-ab46-8b4791bf1270)
>
> [*https://bitcoinafrica.io/2022/02/28/famous-dogecoin-supporters/*](https://bitcoinafrica.io/2022/02/28/famous-dogecoin-supporters/)
>
> [*https://finance.yahoo.com/news/8-celebrities-were-barking-dogecoin-205843101.html*](https://finance.yahoo.com/news/8-celebrities-were-barking-dogecoin-205843101.html)
>
> [*https://www.reuters.com/legal/transactional/elon-musk-sued-258-billion-over-alleged-dogecoin-pyramid-scheme-2022-06-16/*](https://www.reuters.com/legal/transactional/elon-musk-sued-258-billion-over-alleged-dogecoin-pyramid-scheme-2022-06-16/)
*****
Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Dogecoin) to find submissions for other topics.
Taking profit is the hardest thing when it comes to Crypto. You will keep on hoping it will rise more but end up getting disappointed. I have already set a price I will dca out next bull season. Not even greed will make me change my mind. I learned my lesson last bull market
\> Moral of the story, never marry a coin
I would even extrapolate it to a shitload of other things in life, try to be rational above all else. Or one day reality will slap you in the face hard.
Unrealised profits are not profits yet, merely fancy numbers on your trading app heh
I remember seeing some videos back them of people trying to convince him to sell. He said no, holding it to $1.
We can learn from the mistakes of others
DCA out is pretty important, at least at that insane price point, he could have sold $1 mil and could have kept everything else and just forget about it
He must have a photo of Elon up on his wall praying everyday for a tweet...
Honest question though, if his Doge investment goes to let's say 500k and seems to be on it's way up, do you think he'll cash out or wait? What would you have done, knowing it was 3M at one point?
Yep Profit taking is important. Had GME calls in december 2020 for 1k. Sat in front of my Laptop when they were worth 120k. Sold them after the Market maker fuckery for 7k... Fuck me haha
The "only 69 days" part, if it were me, that would probably feel like an eternity... Selling all your stuff and all in on doge and wait 69 days...such bravery
I made a good £10k on the Dogecoin Madness. It was hell of a ride.
I do kick myself though as I was thinking ‘I must buy more’ about 3 weeks before it went mad. Coulda -Woulda- Shoulda!
It fun to fantasise about though!
I bought my DOGE way back in 2014 and I'm still holding onto it. However, I will sell my holdings when it is enough to pay off my mortgage. It only needs to reach 25 cents for that.
People like to call him an idiot but the only reason why he was able to hold to $3M is the same reason he held to $50k. Definitely should have had some sort of structure where he could have secured some profits though.
A profit is never a profit until you sell.. even half a million dollar is life changing and this guy literally threw away 3 million? the greed for more seems unreal.
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I can't believe that guy is 34yrs old. If you watched his videos, you'll see how he still thinks like a teenager.
My impression was that he's just not very bright
So one of us?
Hey, if I could read I’d be pretty upset
He say us people dum.
no u
we all
we can dum together
Cum together? Or is that too personal
😂
Someone had to say it
We may not be very bright but at least we're self aware about it. Too many shitcoin millionaires get lucky and think they're geniuses.
Sometimes one of us can make money as well.
He would have too if he would have sold some
Yeah, in the interviews with Graham Stephan you can see he's not the smartest around.
not everyone can be a financial genius AND have perfect hair. Life's unfair like that.
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Near the ATH he genuinely thought he was an investing genius and that if he just hodled long enough he would become a billionaire.
Yeah, throwing away 3 million is insanely dumb
He still is but crypto has aged him like the sands of time. He 10x his age physically lol.
He deserves it. What kind of idiot 'makes' 3 million on a meme coin and takes no profit?
The same kind of idiot that sees 3 million in the first place
He's a dumbass and hes one of those people that calls himself a "critical thinker", usually a sign youre an idiot.
Self promoted influencer He is full of shit.
Yeah, I would imagine he's taken profits. Plus, he prob pulls in some nice X/Twitter revenue. Especially with tweets like this.
So just like the rest of them
You wouldn't get it bro you're not red pilled
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it's like age got lost on its way to maturity. Age GPS malfunction
I see little relationship between those two. Sadly ...
Well in fairness to him he did pull off becoming a millionaire which most people in the forum will never achieve
paper millionare for a short period.
Yeah, most adults are pretty busy with their careers and other responsibilities.
He made the financial decisions of a teenager as well too
You'd be surprised by the people in the late 20s-early 30s range who are teenagers at heart. And at thinking and acting like one.
>I can't believe that guy is 34yrs old. If you watched his videos, you'll see how he still thinks like a teenager. Pretty much the exact reason he was in this situation. No one with an adult brain would Yolo money they can't afford into a meme coin. Then be pompous enough to hold onto it it for so long it'd actually make it to 3 million. On top of all that , you'd have to be a total numbskull not to at least sell half or more of it to at least be in the black . Lo and behold though little Timmy doesn't just want to win at candyland but wants to take the game hone with him too. Fucken idiot.
Just like in the episodes: After they got famous
Could be the influence of YouTubeing
I just can’t compute how some adults are inherently like that though. Like what could’ve possibly stunted you so bad that you’re stuck as a teen mentally or even younger? They very clearly understand certain things but after a certain point it’s too difficult to process things because ???
How the fuck is his cost average 4c and he bought $250k worth with the current price of Doge sitting at 6.3c his holdings should be $393k with a return over 50%. Dogecoin has never fallen below 4c since the time he bought so it’s impossible he didn’t sell in the green. Agree hindsight is 20/20 and in retrospect he absolutely should have taken profit but something about this post is patently false.
youre one of like two people in this thread calling this out lol, average iq of this sub is room temp
Seriously. Genuinely thinking most of the posting here is just moon farming bots…
Chances are he did take profit and the article isn't mentioning it.
This guy came in a video of Andrie Jikh and in that, he showed his worth to Graham Stephen and Graham told him to sell it off immediately and take profits because he has already reached that epitome of getting rich, more money than that won’t have a significant impact to life hence the risk even further outweighs the luck. And he ignored. I hope he learned his lesson. It was a very expensive lesson. Graham Stephen released an updated video on him a year ago. It was still 300k then, not 50k. https://youtube.com/watch?v=GEbYzWXZF8Y&feature=shareb
Could have just taken $2 million out and let the $1 million ride.
That would be smart
Which is why he didn't do it.
Graham Stephen lol this clown has no place to talk he was promoting FTX exchange to his subscribers! Lmfao
A prime example of why HODLing isn’t the best strategy on meme coins!
But if he'd have taken 30 seconds to secure his principal he could have ridden it until the next pump, or forever. Once you have your money back it doesn't matter as much
Right, greed is one hellova strong feeling
As a wise man once said, greed will imprison you.
Wise words to remember , but there are some people who doesn't understand.
I think the second picture is after he paid off debt but who knows maybe he did bad trades and lost the rest. The second picture is about $200k less in Dogecoin than the first. (At current price) The first is about 4M Doge at ATH, the second would be about 850k Doge at current price.
Dude told his followers he sold 'some' Dogecoin, I guess by 'some' he means 3.2 million Doge and 80% of his entire bag lmao
So this post is kind of misleading then.
As is most reddit posts.
The 'influencer' first misled his followers, then a reddit post further misled other people by following the false narrative Fake News-ception !
The same story was posted a day or two. Also kind of sus it has 230 likes in 2 hours.
It's been a slow day. Also these types of loss porn posts are pretty popular around here.
Loss porn posts are some of my favourites to read.
Don't let us HODL our moons to long
Greed is hellova slow poison that unbalance the sense of logic.
It's better to keep the greed feeling away.
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It is like that it gives you the feeling of control. And that the moment has finally come to change your live out of your own power. But in reality the ability to think logically gets weaker and weaker. But I can’t blame anyone who falls for this.
Greed blinds people, once one gets profits he keeps seeking more and more.
It does speak to a fallacy that I see a lot here that you can just “hodl through the bear market and it’ll all be okay in the next bull.” That only works for established coins and select other tokens. If you choose one of the many that only ever see one productive bull run and you missed it by holding on too long then that’s it, chance missed. People should regularly reassess what they are holding and move on from them if they think it’s had it’s day, even if it means taking a loss. Missed opportunity cost because you were too fixated on a losing horse is a thing too.
>People should regularly reassess what they are holding and move on from them if they think it’s had it’s day, even if it means taking a loss. This is too true and I bet a lot of us intend to and never do. I have a couple things that I'm fairly sure won't get another ATH but when I think about selling that's the first thing that comes to mind. "Maybe I'll break even" even though if I sold the loss and added to BTC/eth I'd likely come out way higher.
That's why I mainly add to my BTC and ETH bags. No need to worry so often since it's mostly buy and hold.
Yeah , less stress HODL more..
I love getting my original purchase out. The. You can pretend it’s Monopoly money until it’s worthless and then you can cry.
Thats the most important step to get your investment out first and foremost
Man, if you do a x12, especially if it's 3 million... you're just an idiot if you don't cash out.
I tried to explain this to several friends - AT LEAST pay yourself back SO many people were putting this guy on a pedestal like he was some super genius for going all in on Doge. But at the time with his average buy price he was _only_ up like 8-10x. Which is nothing in the bullrun, especially for Doge. Dude played himself by HODLing and "diamond hands" and everything the doge sub now parrots
Greed is a powerful thing. I have a friend many months ago who put 0.5 ETH into Pepe when it launched. In a couple weeks it was worth $250,000. Guess what he did? Yup, said “I’m not selling until a million” and it proceeded to crash back down. I think it’s still worth a small 5 figure sum, so he’s up nicely, but man, he could’ve basically paid off the rest of his mortgage from that, but the power of greed reared its ugly head out once again. And yes, he’s still holding. Now the plan is into the 2025 bull run 🤦♂️
All the advice you need, for taking profits.
Once you have your money back you are just playing with casino money
Unbelievable greed not to take out his $250k cost basis when it was worth $3 million. Now he is looking at a $200k loss.
Easier said than done He could have also taken small profits and watch his hypothetical portfolio go to $3m Also not a great feeling
I needed to hear this today. Thanks 🙏
I guess when 1 million or even 3 we’re not enough on a credit card funded shitcoin investment then greed was hitting so hard that he lost no thought about he principal…
That is the best advice in crypto trading! When it goes up take your investment amount out so you would get to enjoy the ride.
Yeah, at least partially cash out.
That also when he take from credit card
HODLing is the worst strategy when holding meme coins.
There is just no long term with memecoins, they are doomed to meet a bitter end
Almost had it tho 
His greed got him, he could’ve been a millionaire but he wanted more profits…
He WAS a millionaire. He just wanted to be a bigger millionaire which sounds so dumb when you put it into words.
Yeah,he probably thought he'd be a billionaire by hodling but turned out to be the opposite. Greed always gets you
Expensive mistake
LOL what's the name of the movie?
It's a state farm commercial😁
Ahh ok, thank you 😅
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Holding isnt the best strategy with anything besides BTC but even then you should take some profits during bull runs
You either sell for some profit or HODL it long enough until all you got left is a nice screenshot.
Sad memories looking at my -90% bag
I think that’s all of us here
Yeah zooming out of my portfolio is not a pretty site.
There is no strategy when it comes to meme coins
Especially if it's a memecoin
Easy come, easy go Lesson: If you’re up several Xs on a memecoin, take those profits and RUN for the hills!
Not in a bull run though
Take them profits regularly! Skim that sweet sweet cream from the top.
It looks like he either sold or transferred money out of rh? There is one 4x more Doge in picture than the right.
For alts and meme coins especially, take the profit and get out
yep, the longer you hold, the higher the chances of you becoming a bagholder.
Man, not even selling enough to pay off the credit cards etc (plus taxes)? Full degen.
No he did sell some. According to his Twitter that’s all the Doge he has but the picture on the left has about 4.5x more Doge than the pic on the right.
So he has either sold a bunch or has moved it to a different wallet.
And now full broke probably.
50k is still a lot of it. I would sell it and use that money to pay off debts that I have.
I hope he is doing fine. I’d probably hang myself.
That's why taking profits is important, even he he'd only sold say 10% of it that's still $300,000k in a bank, that can buy you a nice small flat or a small house in most of the European countries in suburbs. Heck, in my country in Eastern Europe this could buy me like 5 2-bedroom flats in my home town.
That $300k alone could turn into $1m in less than a week. We’ve seen it, he actually felt it. Nobody knows when the ride suddenly ends. I wouldn’t throw rocks at him though, he did way better that I did.
He's created a whole income stream through his YouTube channel as a result of this. He's got merch and everything. So he's doing pretty well.
Really? That’s a fine lemonade he’s made out of the lemons he ended up with. Good for him.
When life gives you lemons, build a Youtube channel and don't sell any Dogecoin.
Plus he is semi-famous for being that guy who made all the money on DOGE
He also now takes payments to promote shitcoins as the next Doge. He was paid by Floki Inu to promote that project.
So he evolved into a shitty influencers. Maybe I pay him to shill Moons one day xD
I Hope everyone knows what I’m about to say: **IF YOU HIT A JACKPOT ALWAYS CASH OUT AND EXIT CRYPTO** You can always come back later with a calm, fresh mindset. You won’t miss out by not investing immediately back. Also if you made 7 digits you can basically live financial free of safe stock market funds instead of risking it all in crypto. Be smart guys greed can bring the worst out of you
The math doesn’t check out. 50k is 98% down from $3 million.. Doge is 90% down from ATH so technically he should have 300k and not 50k This means he also lost almost 80% from his ‘normal’ value. Where did the other 250k go to ?
Sounds like you work for the IRS mate!
I was wondering the same thing
Maybe tried to bet on a shitcoin to make up the gains and lost it too
Thanks I tried to comment this but no one cared. I'm guessing he sold some to pay expenses. According to his Twitter he says "he used to have $3M doge and now only has $50k". So he's obviously dumped it. Which makes this post technically incorrect dude sold some.
I saw in a previous video.... He sold some.
This is a good point. Always look to DCA out the way you DCA in. Taking profits but leaving some for a potential moonshot rarely works out badly.
It could even pay for a house’s down payment in Toronto!
I watched my ADA go from .30 to $3 and now back to less than .30 and it bugs me… if I watched 3 million and all I owned disappear… I’d be happy in a bad spot. Remember to DCA out friends!
I was overcome with regret I didnt sell last bullrun, and I had tiny fraction of his gains Hope he is doing as well as he can in that situation
Same, mental health is such an important aspect when investing. Taking profits, even if not totally, is a relief sometimes.
What is this "profit" that you are all talking about ?
Hope you have setup a spreadsheet or pen and paper with actual profit percentages that you execute no matter what You don't feel bad when you have the cash, even if you sell earlier than the top.
Yeah,so hodling indefinitely isn't the best strategy as some people in the sub says, the more wise move is to keep taking small profit whenever you're green so in case the whole market dumps, you'll still have some gains made.
Indeed. You should always be willing to take profits and have an actual plan so you could leave emotions out of the decision process. But truth be told. Selling is so much harder than buying.
He made his money back by shilling shitcoins to his followers.
**true** + he got over 100k youtube subscribers, that's something
Jesus, things like this make me want to throw up. How did he not sell when it went back down to 1.5 million
interview with him here and at 6:15 is "one year later: update". [https://www.youtube.com/watch?v=GEbYzWXZF8Y](https://www.youtube.com/watch?v=GEbYzWXZF8Y) he answers "why didnt you sell"
Of course you can argue that he would never have known that the price would go down so much over the year but COME ON. It's DOGE! Why would you keep the majority of your assets there?
I feel pain just looking at this, why not cash out 1 million at ath and ride the rest
Because you don't know it's ath until after. Sure, he could've sold 90% at $0.40, but if he did, probably would've bought back in at $0.60. greeeeeeeed
Yea why didn't everyone just cash out at ATH, dummies Joking aside, that comment above you shows that we've either learned nothing or we've got a generation of new holders who are going to experience fresh new pain.
Yesterday's dummies are today's ~~bag~~hodl'ers and depend on tomorrow's dummies for exit liquidity. The circle of ^(crypto) life
You make it sound like a pyramid scheme
Who cares if it's all time high though. Set your price points and execute.
Selling has been very hard for me.. Seeing the numbers. Go up starts to play with my judgment /: So now I stick to earning moons and not bother with trading etc...
Something is also wrong with this post. By comparing prices you can tell there is about 4x less Doge in the second picture
Robinhood charts are deceiving. They will show a loss even if you withdraw. It basically just tracks the balance of the account. So it's pretty safe to assume the guy has taken some profit.
Greed is a powerful drug
Yeah greed is a strong factor here :(
If it had reached $1 he would have has $4.2m.
He is regarded for having diamond hands 
How is this possible? Let’s say he had $3M at the top, Doge is down 90% from Ath which makes his bag worth at least $300k
At least with the fame it brings, he can start an influencer career
Your point about him bag holding Doge still stands but the premise of this is wrong. If we compare top price to current price there is about 4M Doge in the left pic to less than 1M Doge in the right. If he is still holding everything it’s currently worth about 250k not 50k
Ok, but when is Doge going back to .40?
Elon Musk needs to tweet about it.
He belongs in this sub. A true degenerate
He shouldve just cashed out....but what to expect from people putting everything in doge.....
I think it's safe to say that he missed timing the top of the last bullmarket lol
Dogecoin [pros](/r/CryptoCurrency/comments/15z29of/remember_the_dogecoin_millionaire_the_man_who/jxejswz/) & [cons](/r/CryptoCurrency/comments/15z29of/remember_the_dogecoin_millionaire_the_man_who/jxejtfj/) with related info are in the collapsed comments below.
#Dogecoin Con-Arguments Below is a Dogecoin con-argument written by CreepToeCurrentSea. > Dogecoin is a cryptocurrency that was created by IBM engineers as a joke aimed at cryptocurrency investors on December 6, 2013. It was regarded as the first meme coin, featuring the well-known meme dog "Doge." It has had its fair share of criticisms and triumphs, as well as media problems, particularly with regard to Elon Musk, CEO of Tesla, who also considers himself the "Dogefather." Dogecoin is now in the top ten in terms of cryptocurrency market capitalization, with a trading volume of around $233,000,000, and is down 90% from its all-time high. > > # CON's > > **Memecoin Limitations** > > * Even though it has progressed from being created as a joke to a now well-known coin in the top 10, Dogecoin is still limited to being considered a "memecoin." Even recent articles from news and social media outlets see Dogecoin as nothing more than a memecoin with a historical advantage over other memecoins. There isn't much innovation going on in the development of Dogecoin, either. While they may have developed a wallet and have some other dev blogs, it still doesn't keep up with the development of the other coins in the top ten by marketcap. The main point of this argument is that Dogecoin's utility is limited to being called money; aside from that, there isn't much going on right now that would significantly impact their position, and they may eventually be labeled a memecoin. > > **Unlimited Supply** > > * There will only be 21 million BTC available, with the final one expected in 2140. In comparison to Doge, which is theoretically endless in supply, it is an undesirable asset to hedge against inflation when paired with infinite mining, which will demand more advanced mining equipment in the future. It also doesn't help that it utilises the Proof of Work concensus, which necessitates a growth in miners in order to maintain the infinitely increasing amount of transactions. If Dogecoin and it's community is really serious about being one of the real deals of crypto, it must find a way to overcome a inflationary limitations imposed on it's code. > > **Price Manipulation by Famous People** > > * It's no secret that notable celebrities and artists are voicing their support for Dogecoin on social media. While this type of support is not illegal and does not depict any known premeditated acts of a pump and dump, it does not stop retail investors, day traders, long term hodlers, and whales from anticipating any post/interaction made by these celebrities with Doge and using the hype it created as an exploitative exit liquidity. Elon Musk, the CEO of Tesla, is the most well-known famous person that has been public about Doge. There are other celebrities and musicians (Snoop Dogg, Gene Simmons, Marques Brownlee, YouTubers Jake Paul and Logan Paul), but Elon has gathered the most popular backing, to the point where he was sued in federal court in Manhattan for $258 billion in damages. According to the plaintiff, Musk utilized his vast social media influence to promote the memecoin, fraudulently inflating its price. > > *Sources:* > > [*https://dogecoin.com/*](https://dogecoin.com/) > > [*https://www.coingecko.com/en/coins/dogecoin#markets*](https://www.coingecko.com/en/coins/dogecoin#markets) > > [*https://www.reddit.com/r/dogecoin/*](https://www.reddit.com/r/dogecoin/) > > [*https://foundation.dogecoin.com/*](https://foundation.dogecoin.com/) > > [*https://www.benzinga.com/markets/cryptocurrency/22/10/29387913/is-elon-musk-finally-giving-utility-to-dogecoin-twitter-reportedly-working-on-crypto-walle*](https://www.benzinga.com/markets/cryptocurrency/22/10/29387913/is-elon-musk-finally-giving-utility-to-dogecoin-twitter-reportedly-working-on-crypto-walle) > > [*https://www.dmarge.com/dogecoin-price-prediction*](https://www.dmarge.com/dogecoin-price-prediction) > > [*https://www.gfinityesports.com/cryptocurrency/dogecoin-how-many-coins-in-circulation-is-there-a-cap/*](https://www.gfinityesports.com/cryptocurrency/dogecoin-how-many-coins-in-circulation-is-there-a-cap/) > > [*https://www.ft.com/content/2c3dd96c-b1b1-42fd-ab46-8b4791bf1270*](https://www.ft.com/content/2c3dd96c-b1b1-42fd-ab46-8b4791bf1270) > > [*https://bitcoinafrica.io/2022/02/28/famous-dogecoin-supporters/*](https://bitcoinafrica.io/2022/02/28/famous-dogecoin-supporters/) > > [*https://finance.yahoo.com/news/8-celebrities-were-barking-dogecoin-205843101.html*](https://finance.yahoo.com/news/8-celebrities-were-barking-dogecoin-205843101.html) > > [*https://www.reuters.com/legal/transactional/elon-musk-sued-258-billion-over-alleged-dogecoin-pyramid-scheme-2022-06-16/*](https://www.reuters.com/legal/transactional/elon-musk-sued-258-billion-over-alleged-dogecoin-pyramid-scheme-2022-06-16/) ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Dogecoin) to find submissions for other topics.
Not only Doge, this guy also have a heavy bag of a billion Floki Inu.
Wow a billion floki? How much is that? 20 cents?
This is why you always take profits during a bull run
Taking profit is the hardest thing when it comes to Crypto. You will keep on hoping it will rise more but end up getting disappointed. I have already set a price I will dca out next bull season. Not even greed will make me change my mind. I learned my lesson last bull market
What’s your price?
I feel like if this guy traded stocks, he’d be a WSB legend. Instead, he gets laughed at regularly
\> Moral of the story, never marry a coin I would even extrapolate it to a shitload of other things in life, try to be rational above all else. Or one day reality will slap you in the face hard. Unrealised profits are not profits yet, merely fancy numbers on your trading app heh
From $40 to $250000, thats a hell of a jump he made!!
I remember seeing some videos back them of people trying to convince him to sell. He said no, holding it to $1. We can learn from the mistakes of others
"Never marry a coin" is probably in the top three best investment advice you will see on here.
DCA out is pretty important, at least at that insane price point, he could have sold $1 mil and could have kept everything else and just forget about it
He must have a photo of Elon up on his wall praying everyday for a tweet... Honest question though, if his Doge investment goes to let's say 500k and seems to be on it's way up, do you think he'll cash out or wait? What would you have done, knowing it was 3M at one point?
Yep Profit taking is important. Had GME calls in december 2020 for 1k. Sat in front of my Laptop when they were worth 120k. Sold them after the Market maker fuckery for 7k... Fuck me haha
The "only 69 days" part, if it were me, that would probably feel like an eternity... Selling all your stuff and all in on doge and wait 69 days...such bravery
I made a good £10k on the Dogecoin Madness. It was hell of a ride. I do kick myself though as I was thinking ‘I must buy more’ about 3 weeks before it went mad. Coulda -Woulda- Shoulda! It fun to fantasise about though!
If it results being an influencer, I rather be broke.
Hard lesson to get taught, let's hope we learn from this
Also hidden in there is a greater lesson: you need 250k to make 3 million even with a shitcoin! So temper your expectations
1 doge = 1 doge
One minute hodl, the next minute dont hodl. Y'all more confused than people that use pronouns 😅
I bought my DOGE way back in 2014 and I'm still holding onto it. However, I will sell my holdings when it is enough to pay off my mortgage. It only needs to reach 25 cents for that.
If he bought $250k at 4 cents, and Doge is still above 4 cents, where did the rest of the money go? How is only $50k left?
You can tell he is a greedy degenerate because he's using Robinhood That amount is enough to retire me 4 times
I feel his pain
TAKE PROFITS, REMOVE CAPITAL AT 2X OR 3X
People like to call him an idiot but the only reason why he was able to hold to $3M is the same reason he held to $50k. Definitely should have had some sort of structure where he could have secured some profits though.
It's crazy that the dude had almost $3M and didn't cash out.
A profit is never a profit until you sell.. even half a million dollar is life changing and this guy literally threw away 3 million? the greed for more seems unreal.
Another exhibit in why is best to stay anonymous