It's terrible enough Elon Musk's account was the most targeted of all the compromised accounts in the recent Twitter social-engineering scam that ended up costing people $121,000 USD, but now he's taken his trolling next level and created yet another Dogecoin (DOGE) fiasco.
Musk indicated that the meme-coin could become a viable global standard and the market rose 14%. As a result; this is a clear demonstration of how social structures influence prices. To vex me further, this is not the first time Musk has done this and will likely not be the last, and he seems to do it for amusement:
A while back Musk made a similar Tweet - it's getting stupider each time:
However, two days after a Twitter attack in which his account caused people to $121,000 USD to Twitter-induced clickbait, this could have a rational reason behind it....or not. In fact, it could be pretty damn stupid.
It's possible Musk wanted to fuel the cryptocurrency market to boost gains, but it's also completely probable that he was doing it just to meme cryptocurrency as a whole. If any token were to take over Bitcoin as #1, it surely would not be Dogecoin, so I lean in favor of the obviousness of him trolling on Twitter, yet again. Musk and the US president appear to share a favorite hobby: Endless Twitter trolling. I'm a hobbyist, and that doesn't appeal to me.
On another note, since we are discussing tokens of little to no value anyway, a token I had ruled off as entirely not worth my time and probably still isn't...
Stellar Lumens (XLM) has been having an excellent stretch lately, breaking 10+ months of idle activity on the market, reaching a new high of $0.1078, now down to $0.1039:
The one total positive I will give XLM here is that this is an amazing recovery from their COVID drop.
Stellar has not seen a price this high since the spike to $0.1260 back on September 17th of 2019:
I abandoned my Stellar HODL Experiment and I'm still not regretting it, although I am going to move a small amount back into my account just in case it grows exponentially during the next dip. However, I will not keep a large portion of my assets in it, forget it. I may grab a small amount of Doge at some point and plan to only profit off it during Musk tweets or other types of FOMO like Doge saw a few weeks ago to a lesser degree, it seems he cannot help himself, so I am expecting more Tweets in the future. It's not the worst strategy I've ever heard of for turn-arounds with spare change.
No, Sir; these are not my picks. Bitcoin (BTC), Basic Attention Token (BAT), Tezos (XTZ), NANO - and Atomic Wallet Coin (AWC) if their service doesn't crumble after the airdrop "which is on hold and held crucial information for qualification before August 1st from the public" are my current favorites. AWC doesn't look like it's going in a good direction anymore, but since I already put the time and money in, I can only hope it will succeed.
For those rare people out there that haven't taken part in the Coinbase Earn, there are several currencies available, and one that is still paying is the Stellar Lumens Earn. Coinbase Earn is a great way to get some Stellar Lumens (and other tokens that cash out immediately) for free, and if they were to grow exponentially - you'd be rich. I still say it's unlikely, but you can always just exchange or sell the tokens, too. It's foolish to turn down free money.
Some may see Stellar as a wise investment opportunity, but my advice: Don't hold your breath while hanging on for dear life with that one. Even with the gains I saw before, it felt like such a waste of time, so I only advise you HODL XLM if you have a token obsession or a lot of money.
Regardless, it's interesting that low-priced coins are starting to boost at the same time, which is what caught my attention. People appear to be looking for extremely low-level investment opportunities with high returns on investment (ROI) - the same thing they've been doing since the beginning of time, just a bit more aggressively lately.
Let me know what you think about this recent trend in the comments!
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