Amid the crazy cryptocurrency market swings, Maj Soueidan and GeoInvesting research contributor Noah Goldberg try to make sense of the dynamics of how certain coins or tokens fall in and out of favor. In this segment, they delve into Dogecoin a bit…
“There’s nothing that says that Dogecoin can’t be the number one cryptocurrency. That’s not me advertising to buy Dogecoin. I think right now it’s a very much negative expected value if you hold Dogecoin.
“But almost certainly, over a long enough time horizon Dogecoin probably goes back down. But there is some slight probability where this meme… there’s this thing that originally started as purely a joke…it’s so funny, well not funny, but it catches on so much in terms of the tension of, retail investors and other people that are interested in memes, that it legitimizes it. And that’s kind of where we are now”
“But at the same time, in hindsight, if DOGE tops here and goes down 100% we’re all gonna say like, Wow, it’s so obvious. It’s literally like a piece of trash token. But if it succeeds, we’ll all say, “Oh, it’s so obvious”, it was gaining so much momentum and like people’s acceptance of it…”
“…I’m gonna let it do whatever it wants to do. I’m not going to touch it. It’s just not what I do.”
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