The story of this article begins in April 2021, when DOGE is targeted by wall street bets, a huge reddit community that invests everywhere and with excellent ROI. From there begins the war on the price of DOGE and from the graph below we can clearly understand where everything started from.
DOGE had started below $ 0.001 in value, reaching an unprecedented high of over $ 0.50. A huge rally, which greatly favored those who had accumulated huge reserves of this coin and had emptied the pockets of those who had bought at the time of the rise. This not only caused many to miss a huge opportunity, but caused serious consequences for those who did not sell in due course. In total euphoria, I found myself with 1000 DOGE deposited on Stakecube (with a PMC of 0.00002) which has allowed me to earn 7% APY so far.
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And here's what happened during the bubble: I ended up with $ 600 in the crypto wallet, and I didn't immediately rebalance. I waited convinced that it would reach $ 1 and only then would I sell, making a profit of $ 1000 in USDT or BTC to use with other coins. And here comes the tragedy: the collapse. I only sold about 50 DOGE in that period, making a small profit, and reinvesting the proceeds on another coin that currently generates 36% APY on Mycointainer. I did not take full advantage of the opportunity that was given to me, and my wallet has suffered a lot (-500 $).
What allowed me NOT to sell at the moment of the collapse taken by emotions was the possibility of STAKING DOGE on Stakecube. That's why even today, almost a year after that rally, I still keep my DOGEs there.
However, the same thing did not happen for ADA, I was able to sell those few coins I had at the right time by trading them in LTC and then staking them on different platforms. I witnessed the collapse of ADA with less remorse than DOGE.
What is the moral of the lesson in all of this? What information can you glean from this article dear reader?
The answer is simple:
- Buy when everyone sells
- Calmly wait for the right moment to sell part of the tokens and make a profit
- Sell the moment you notice that everything is at an all-time high
- Reinvest again
Crypto are not just coins, they are projects that are maintained by many teams, in the top 100 positions by market cap it is a good thing to stay there with your crypto wallet, not to invest in strange coins, just born, or that do not have a team serious, because you could easily lose an avalanche of money and health. Invest in solid projects that have years of development and testing behind them. If you find any coins with a high % staking like RDD or DIVI, go ahead and invest, but as always keep an eye on the possibilities around you. Don't have blinders just because we're only talking about BTC or ETH. And remember that the entire ETH ecosystem will have very high fees for those who want to buy, sell or exchange tokens that are under the ETH network until they completely switch to ETH 2.0.
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Cover image by: cyberdude_it
