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[AudraMiller]

There are many exchanges that are only able to handle a certain capacity of users and their buy and sell orders, and this was seen with the coinbase outage after the bitcoin rally. A similar case has happened to INDIA's largest crypto exchange, whereby the exchange crashed after the soar in dogecoin trades. The WazirX exchange faced this crash, with the dogecoin trade volume over three days being over 42 billion dollars. What are your thoughts on this?

 

[Damismiling]

Dogecoin is really making some spectacular increase this days I believe it will rise up above speculation, dogecoin going to $5

 

[Niftyicon]

The rally is something else and it is a wonder that the same coin that has been dormant and in existence for so long is receiving so much attention in recent times.

 

[Wisdom01]

But the exchange platform should have prepared for this already to avoid crash and others. I just hope the price of dogecoin continues to increase

 

[AudraMiller]

The rally is something else and it is a wonder that the same coin that has been dormant and in existence for so long is receiving so much attention in recent times.

This is true. It is hard to believe that this entire rally has been started by one man, and he has created such a jump in the price. There is a lot of concern though if he had to cash out on his investment, or if the other whales had to do so.

 

[Niftyicon]

This is true. It is hard to believe that this entire rally has been started by one man, and he has created such a jump in the price. There is a lot of concern though if he had to cash out on his investment, or if the other whales had to do so.

That is the fear I also have where doge is concerned. Just one whale is enough to crash the market terribly. I wonder if there is a way to spread things out more evenly so as to break the monopoly hold whales have on dogecoin.

 

[AudraMiller]

That is the fear I also have where doge is concerned. Just one whale is enough to crash the market terribly. I wonder if there is a way to spread things out more evenly so as to break the monopoly hold whales have on dogecoin.

I think that unless that whales have the idea to get rid of their own coins or to sell them off bit by bit they are going to be controlling the majority of the market. And to be honest, with the price of dogecoin increasing so rapidly it is caused by a trend rather that genuine interest in the coin. People are buying because a well known person is talking about it, which doesn't show growth in the long term if elon had to stop supporting it.

 

[Damismiling]

That is my greatest fear, my greatest fear for doge is if Elon wake up someday and stop supporting it hope it won't crashed down beyound reasonable amount?

 

[microunit]

Dogecoin is really making some spectacular increase this days I believe it will rise up above speculation, dogecoin going to $5

For that to happen though dogecoin has to really hover above 1$ and to add that I think there is a massive sellwall at 1$ price mark given that that is the goal of most who invested in dogecoin in the past few months

 

[AudraMiller]

That is my greatest fear, my greatest fear for doge is if Elon wake up someday and stop supporting it hope it won't crashed down beyound reasonable amount?

This is my fear as well and it is quite reasonable to expect that this will happen at some point or the other. Naturally he seems to be supporting the coin as it is causing drive within the coin, however when his support shows little difference to its price that will be the peak and the point at which he could sell.