“I am a fool who opted all his savings in Dogecoin six months ago”

The confession – or repentance? – of a Dogecoin investor (Doge) lit a heated debate among other followers of the most valuable memecoin on the market, who took the opportunity to reflect on some issues of cryptocurrency trading.

“I am the fool who opted all his savings ($ 15,000) in Doge at 0.37 dollars. They have spent 6 months and there is no sign that I will increase. I am very depressed and I have no money to pay the rent now,” said a user of the Reddit social network identified as Direct Gas-8400.

The last time Doge was above $ 0.37 was after Donald Trump’s triumph in the US presidential elections. From that moment, The memecoin whose icon is a dog Shiba Inu records a 55.6% drop. At the time of publication of this note, the price is $ 0.16.

Apart from the percentage of losses, the important thing here is that the message, as raw as direct, highlighted the consequences of investing without a clear strategy or risk management, especially when it comes to assets as volatile as memecoins. As explained in cryptopedia, educational section of cryptootics, they are active whose utility is practically nil and only serve for financial speculation.

For this reason, its price can rise or lower in seconds, without its own foundation that explains that movement.

In a clear tone of resignation, the Reddit Wide-Accountant6249 user commented that he bought Doge at 0.36 dollars “with more than I should” and added: “I will leave it like this and continue with my life. I will do a couple of extra jobs to recover the money and I hope to have luck one day. I cross my fingers.”

Meanwhile, Adrian_Stoesz recalled a very popular phrase among investors: “Invest only what you can allow you to lose.” More than a phrase, it should be a motto that they would have to remember Many inexperienced traders entering the market in full euphoria, with the illusion of rapid earnings and without measuring the risks.

A simple phrase, but that is usually forgotten when the euphoria of the market and the promises of rapid profits eclipse prudence dominates, especially when buying in full increase, and even more so if it is a memecoin like doge, whose price can be shot or collapsed in a matter of hours.

In that sense, User Goodfack said: “Have you heard Michael Saylor say otherwise? Invest only what you cannot allow you to lose.”

The irony refers to the statements of the CEO of Strategy, who usually uses that phrase in reverse when he speaks of his aggressive investment strategy in Bitcoin (BTC). However, here you have to mention a big difference: BTC is not doge.

And that is for the simple fact that Bitcoin is the most valuable digital asset in the market and is considered by many investors as a reserve asset in times of economic uncertainty or geopolitical tensions. On the other hand, more and more companies are accumulating BTC in their treasury.

In addition, BTC has shown that it has a large long -term potential. As observed that the price of BTC has evolved positively since 2012:

The debate did not end there. While some users commented that they were normal situations for inexperienced traders, Liquid_At said: “This happens when people ignore all the investment councils they receive. They experiment to understand why they were given that advice. Experience cost time and money. Enjoy the experience.”

Likewise, Healthier_choices repaired the fact that many people resort to memecoins with discretionary funds, money destined to pay basic needs, instead of opting for assets that are less exposed to market volatility.

In short, the debate left some issues to take into account for the future, such as betting (yes, because it is not an investment) all savings in an asset as volatile as a memecoin.

In addition, buying a cryptocurrency at price maximums is rarely a good strategy, especially when it comes to highly speculative assets. Get into that point, driven by collective euphoria, it usually leaves many trapped right at the topminutes before the wave breaks.