Doge: Investor Believes Musk Aims to Make It the People's Currency

Doge: From Meme to People's Currency, According to an Investor

Can a meme become the people's currency? That is what anyone wondering why Elon Musk tweets about Dogecoin while its price crashes might ask. In this thread, a confessed Doge investor—who also holds BTC and ETH—explains his theory: Musk does not seek to inflate the price, but to make Doge the people's currency and stop relying on the "villains." Meanwhile, the price has fallen from $0.71 to $0.16, and comments oscillate between "minimum 100,000" and "a fool and his money are soon parted."

The Theory of the People's Doge

The initial premise is as simple as it is ambitious: Musk tweets about Doge because he wants the dog community to grow and the coin to become a popular means of payment. The author of the initial message admits to having invested "a fiat amount that hurts to lose, but that won't ruin my life." He is not a fanatic: he holds more BTC and ETH than Doge. His thesis is that Musk does not seek to manipulate the market, but to create an alternative to cryptocurrencies controlled by elites he calls "villains."

The response does not take long. One commenter states that Doge will not reach $100 "even with Bitcoin's market cap." Another jokes that one must wait for $100,000. And a third warns: "A fool and his money are soon parted." The division is total between those who see a historic opportunity and those who see a trap for the gullible.

What is Happening with Dogecoin's Price?

The thread's data are unrelenting. It mentions an entry at $0.0782, a peak of $0.71, and a drop to $0.16. In between, a user confesses to having bought at $0.595 with a stop-loss near the purchase price. Another calculates that it has dropped "almost $0.20 since yesterday." The volatility is brutal, and the messages reflect it: from "I got out scratching my head" to the one who holds 2,400 Doge bought at $0.0782 and says he is still in profit if he sells.

The discussion shifted toward the coin's real utility. One participant argues that "all coins are worth $0" and that value comes from utility or community. That is why he invested in BNB and Cake. In contrast, the argument for technical developments: the Rosetta API, potential listing on Coinbase, reduced fees, and a bridge with Binance Smart Chain. Data that, according to the most optimistic, would turn Doge into something more than a meme.

The Role of Elon Musk and SpaceX

The catalyst for the euphoria is the announcement that SpaceX will launch a satellite entirely funded with Dogecoin. The mission is called DOGE-1 and is scheduled for early next year. "DOGE has proven to be a fast, reliable, and cryptographically secure digital currency," says the statement from Geometric Energy Corporation. For supporters, this validates the coin as a real means of payment. For skeptics, it is pure smoke: "Elon has already sold everything at the highs, he has used you."

Musk tweets that Doge should accelerate block time 10X, increase block size 10X, and reduce fees 100X. "Then he wins without discussion," he writes. A user responds with a calculation: if 10 times more blocks are created, 100,000 Doges would be mined per minute. Musk's response does not take long: "For those bad at math, 100X more transaction volume with 100X less fees means total fees earned remain the same."

The Dog Community Against the Haters

The thread is also a tug-of-war between communities. The bitcoiners, according to the initial author, "spit bile on Twitter" against Musk. He responds with a tweet from Musk himself: "Obnoxious threads like this make me want to go all in on Doge." The tension between Bitcoin maximalists and Doge defenders runs through the entire debate. "My doges to the bitcoiners who know how to endure without insults and bile," writes the investor, who insists he also holds BTC.

Meanwhile, market reality hits: the price drops to $0.16, and some console themselves with the long term. "Given that the crash is widespread and that we have DOGE-1 in January 2022 no matter what, the best now is to leave it in some fixed interest and forget about it until at least November," advises one participant. Another states: "You don't have profits until you sell." The dog community holds on, but skepticism gains ground.

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In the end, the question is not whether Doge will reach $100, but whether someone who bought at $0.59 will still have the stomach to endure when the price drops to $0.16. Faith in Musk moves mountains, but it also empties wallets. Do Only Good, they say. Let's see who believes it.