Dogecoin has earned over 100% of its dollar value in the past two days. At times like these, it is important to be aware and not be afraid to miss something.
In just a few days, the price of one of the most popular altcoins, Dogecoin, has increased by more than 100%. There is a common perception in the cryptocurrency community that big moves at DOGE generally mean that an altcoin season is coming.
Still, the team behind Dogecoin warned people through their official Twitter account not to give in to FOMO (Fear Of Missing Out) and to be aware of their investment.
The Dogecoin rocket
Yesterday we reported that DOGE rose by more than 20% in 24 hours. Since then, cryptocurrency has risen, breaking all resistance along the way, leaving the market dismayed.
DOGE reached $ 0.005599 at Binance, which marks an increase of more than 100% in the last two days. Since then, the price has dropped to around $ 0.0042.
The community is very excited about this, and the reason is that in many cases, when DOGE pumps, there is usually an altcoin season coming up. This time seems to be no exception.
Many altcoins are emerging. The most definitive indicator of an altcoin season is the decline in the Bitcoin domain. In fact, BTC has lost almost 2% of its share in relation to the entire market, signaling that the alts are creating new fundamentals.
Don’t be afraid to miss something
At times like these, it is increasingly easy for retail investors to give in to FOMO (fear of losing something) and start buying assets while at their peak.
That was the case in 2017, when almost all cryptocurrencies recorded their current high values of all time. Many people who had no previous experience in the market bought only to see their investments lose more than 95% of their value in the following year.
With that in mind, the official account of the Twitter Dogecoin’s issued a conscious statement, urging people to be particularly careful.
“Realize people’s intention when they guide you to buy things. None of them can advise you financially.
Make the right choices for you, don’t fall for FOMO or other people’s manipulation.
Stay safe. Be smart.”
This statement may come in response to viral videos on the popular social media app TikTok. One person asked his followers to buy Dogecoin.
Saying that investing $ 25 in DOGE will now earn the investor more than $ 10,000 when the cryptocurrency reaches $ 1. Needless to say, this is the type of “financial advice” that people should be particularly critical of.