Dogecoin’s surge is soaring, stirring up the cryptocurrency circle and turning people’s opinions around to become fans. Wang Yan (pseudonym), who got on board at the beginning of the year, has already reaped a wave of gains in this狂欢, and has become a ‘dogecoin enthusiast’. ‘I have recommended investing in Dogecoin to all my colleagues in the company, and most of the ones I bought have doubled in value now’, Wang Yan said in an interview, immediately launching into a full-on promotion mode to the journalist: ‘Hurry up and get on board, or wealth will have no connection with you.’

　　However, in just two months, Wang Yan had already sold 50,000 coins, recovered his cost, and continued to bet with the remaining 20,000 coins.

　　At 8:00 AM on January 1 this year, the price of Dogecoin was 0.0047 USD per coin, and it quickly soared to about 0.07 USD per coin. This is far from the end; by the middle of April, the price began to soar, reaching 0.41 USD per coin at 8:00 AM on April 20, and then again rose to 0.7 USD per coin in just half a month.

　　As of 9:47 PM on May 13, the price of Dogecoin has fallen back to 0.42 USD per coin, but even so, the price of Dogecoin has increased by 88 times this year, and at the peak, the year-on-year increase reached 148 times.

　　In the frenzy, crypto big V’s have also found a way to make money. A report by the Beijing News Beike Finance reporter found that many big V’s have opened paid exclusive circles, ostensibly sharing the market trends of major and alt coins, but actually recommending potential coins for a fee, with annual fees ranging from a few hundred yuan to ten thousand yuan.

　　The reporter saw that some big V fans have filled four free groups, and the newly established free groups also have over 100 people ‘following’.

　　However, the market for Dogecoin has experienced sharp ups and downs, and not all investors are winners. Yang Yan (pseudonym) followed the trend and invested several tens of thousands of yuan, only to lose over 10,000 yuan.

　　The sharp rise has broken the circle, and 90s and 00s have become ‘star-chasers’.

　　With the news of the sharp rise of Dogecoin spreading like wildfire, Wang Yan felt that he had detected an excellent investment opportunity and decided to increase his position in February.

　　“In early February, I continued to add to my position during the low point of Dogecoin, firmly believing it would double in price, and bought 70,000 coins of Dogecoin. At that time, the price of Dogecoin was only 0.03 USD per coin, and by March, while other coins were rising, Dogecoin was experiencing volatile trading.” Wang Yan’s entry into the market was not just to collect investment returns; until April to May, Dogecoin began to surge—ranging from 0.07 USD per coin to a high of 0.7 USD per coin.

　　“Actually, I forgot about it after I bought it, just held on to it, and after doubling, I sold 50,000 coins of Dogecoin to get back my cost.” Wang Yan is left with 20,000 coins of Dogecoin, preparing to hold them for the long term.

　　The reporter calculated, even if calculated at the cost price of 0.07 USD per coin before the price of Dogecoin ‘took off’, selling at 0.3 USD per coin, Wang Yan earned over 10,000 USD from this round of rapid growth of Dogecoin.

　　Wang Yan is not a ‘newcomer’ to the ‘crypto circle’. He has previously tried his hand at holding 2 Ether, selling it after the price rose tenfold. After that, Ether continued to rise, from $1000 at the beginning of the year to over $4000 now, and he bought Ether again at over $3000. Currently, he has invested in a basket of Online casino and How to find it, and paying attention to the crypto circle dynamics has become his daily routine.

　　Beike Finance reporter learned that many young people

　　If DogeCoin is to be categorized, it should belong to MEME coins, which can be understood as ‘joke’ coins. The birth of DogeCoin originated from a prank by two programmers, and even its logo is a Shiba Inu often used as an emoji. Initially, DogeCoin was mainly used as a tip or live broadcast reward, but its applications were still limited. Despite this, DogeCoin has still gained a lot of support from anti-establishment cyberpunk young people. The nonsensical DogeCoin is a joke by this group of people to the utilitarian world view and elitism, and naturally gained a lot of young people’s attention. Senior crypto circle person Zhao Yu (pseudonym) introduced.

　　DogeCoin, born in 2013, although originating from a prank, has become the second most popular lottery and How to find it in the world under the带动 of ‘world top stream’ Musk. Currently, its market value has exceeded 500 billion US dollars, far exceeding that of big brands like Twitter and Ford Motor Company.

　　As early as April 2019, Musk had tweeted that DogeCoin might be his favorite lottery and How to find it. At that time, he also changed his Twitter bio to ‘DogeCoin CEO’. This February, Musk said he had bought some DogeCoin for his children, so he could become a stumbling coin holder. Subsequently, American rock singer Gene Simmons, rapper Snoop Dogg, and many other celebrities in the entertainment industry also released related pictures of DogeCoin on Twitter.

　　Benefiting from the endorsement of celebrities, the price of DogeCoin has also soared.

　　In the crypto circle, Bitcoin is obviously more well-known to the public. Compared with Bitcoin, the trading process of DogeCoin is more convenient, with confirmation time of only 1 minute, and the price is low. Unlike Bitcoin, which has a total supply limit, DogeCoin does not have a total supply limit, with 100 billion coins mined in the first year, and 50 billion fewer coins mined each year thereafter.

　　Unlike Bitcoin, which often costs tens of thousands of dollars per coin, DogeCoin has a very low entry threshold, just a few hundred yuan can join the ‘crypto circle people’, which may also be one of the reasons that attract young people to participate.

　　Zhao Yu told the journalist, ‘Investors in DogeCoin include not only old-timers in the crypto circle but also young people who have just joined, with the overall age group tending to be younger.

　　The journalist saw in a DogeCoin investment group that among the 1800 group members, 90% of them are post-90s, and 19% are post-00s, with a total of 68% of the two groups, which is basically consistent with the image of DogeCoin ‘breaking through the circle’ in the young group.

　　Big V opens a paid intimate circle: annual fee of 15,000 yuan, using social media to attract traffic

　　DogeCoin has become a hot potato, and fans have also become the targets of ‘harvesting’.

　　Beike Finance journalist saw on social media that some big V in the crypto circle have opened a paid intimate circle, with an annual fee of 299USTD (Tether), which is about 1900+ RMB at the current price. The big V claims that they will share the trends and market conditions of major mainstream and altcoins, recommend doubling potential coins to investors every day, and also recommend must-rise coins the next day, guiding bottom fishing, reducing positions, increasing positions, and exiting positions, etc.

　　The reporter found that such paid groups or small secret circles are not hard to find. Big V mainly release the latest cryptocurrency news on platforms like Weibo, and even share practical experience. After attracting the attention of retail investors, they gather the fans from Weibo channels into WeChat groups through the free entry method.

　　In the free groups established by the big V, the reporter saw that they would selectively answer the questions raised by group members, including whether it is currently advisable to buy a certain coin and whether the price of a certain coin can still recover in the future. However, soon after, promotional messages for the paid groups would be posted in the group to attract users to the paid groups.

　　According to a report by Caixin Finance, such paid groups generally do not analyze a specific coin specifically, but rather a more comprehensive cryptocurrency investment, involving a variety of coins, and teaching diverse investment methods, such as Victor’s professional speculative principles, and Cai Sen’s morphological analysis, etc.

　　A big V introduced to the reporter that after joining the group, there will be several teachers available for consultation, and as long as they pay, group members can consult the teachers at any time and have one-on-one communication with them. In addition, the group will also provide some practical ideas, such as reminders for buying and selling coins, etc.

　　The reporter consulted several big V and learned that currently, they can charge by quarter, and some charge an annual fee, with amounts ranging from a few hundred to tens of thousands of yuan. The reporter, in the capacity of an investor, consulted a big V and learned that the VIP group requires payment by quarter, at 3800 yuan per quarter, which means the annual fee is as high as 15,200 yuan.

　　Currently, this big V has a significant effect from Weibo引流, with 4 free groups already full, and the 5th free group already having over 100 people. However, from the screenshots, the number of people in the paid groups is not many, with each group having about 20 to 30 people.

　　Zhang Yan told the reporter that the paid groups mainly consist of teams or big individual investors who judge the trend of coins based on historical experience and future trends. ‘These circles indeed have people with real talent and expertise, who are very proficient in the cryptocurrency market, but it is also impossible to guarantee making money every day. Of course, there are also groups that cut off the grass, such as manipulators communicating with group leaders to have the group members collectively enter the market at a certain time, and then the manipulators take advantage of the opportunity to unload, thereby cutting off the individual investorslottery platform and The latest website. I suggest that everyone should do their own research, experience it themselves, and join more communication groups. It is relatively convenient to obtain information in the cryptocurrency market now.’,

　　Dogecoin has surged tens of times, can you still enter the market?

　　Musk continues to pay attention to Dogecoin, which is also considered one of the main reasons for its potential for further appreciation by the cryptocurrency community.lottery platform and How to find it

　　On May 11th, a social media platform conducted a poll with the theme ‘Would you like Tesla to accept Dogecoin for payment?’ The results showed that over 70% of users support Tesla accepting Dogecoin for payment.

　　Before this, SpaceX confirmed that they will accept Dogecoin and will carry out the first satellite launch mission paid for by this cryptocurrency in the first quarter of 2022.

　　Although Dogecoin has surged more than 80 times this year, not all investors have made money due to its great ups and downs. Investor Yang Yan (pseudonym) told reporters: “I followed the trend and invested tens of thousands of yuan in Dogecoin recently. The cost price was 0.6 US dollars per coin, and it later fell to 0.5 US dollars per coinsports betting cheatsJust need you. I liquidated a batch of positions at 12 o’clock in the morning, and lost more than 10,000 yuan.”

　　For Dogecoin, it can be said that it is both successful and defeated by Musk. His words can often determine the life and death of Dogecoin.

　　On May 8th local time, Musk participated in hosting the American old entertainment variety show Saturday Night Live. Before the live show began, the price of Dogecoin had already reached 0.7 US dollars per coin. At the end of the show, the host jokingly asked: Is Dogecoin a scam? Musk helplessly smiled: “Yes … okay, it is a scam.”

　　Following this, Dogecoin plummeted, with a drop of nearly 40%.
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　　Zhao Yu said in an interview with reporters that this round of decline is mainly due to the previous excessive increase, with severe selling pressure, and most young people buy Dogecoin for speculation.

　　According to an interview with reporters by贝壳财经, in addition to retail investors, some senior cryptocurrency teams have also opened positions in Dogecoin. Members of the team led by Zhao Yu previously worked in traditional financial institutions and have more than a decade of professional experience. Since 2016, they have started trading Bitcoin and other cryptocurrencies, and can monitor the majority of coin varieties in the market. They have been trading in real money for five years, which can be said to be a team with a long trading time in the circle.

　　”Our quantitative system can monitor the trend of the majority of coins on the market, and we opened a position on March 14th when we monitored a strong upward trend in Dogecoin.” The Zhao Yu team believes that Dogecoin will receive good traffic support. “It can be said that Dogecoin has become a representative variety in the field of cryptocurrency assets, the eyes of anti-establishment cyberpunk youth against the traditional world. At the same time, Musk frequently speaks out for Dogecoin, which has also created many fantasies for the future applications of Dogecoin. Therefore, we believe that Dogecoin will receive traffic support, which comes from our long-term observation and understanding of the new generation of people.”

　　However, she also said that it is not certain how long this trend can last, and there should still be short-term traffic support.

　　Can Dogecoin, which has surged dozens of times compared to the beginning of the year, still enter the market? Wang Yan is relatively optimistic, believing that Dogecoin will rise to 1 US dollar per coin, and even rise to 10 US dollars per coin in the long run.

　　However, with the market heating up, Yang Wen (pseudonym), who has investment experience in online casinos and how to find them, is relatively cautious, “I plan to enter the market recently, but will buy a small amount, feeling that the risk is still quite high.” Senior crypto circle figure Mingliang (pseudonym) believes that the price of Dogecoin is still at a high point and will continue to monitor it.

　　Reporter / Pan Yichun

　　Editor / Wang Jinyu