In recent months, Elon Musk has single-handedly stirred the cryptocurrency world with mere tweets.
His announcement that "Tesla suspended Bitcoin payments" caused Bitcoin to plunge over 17%. Ironically, earlier this year, Musk's public endorsements of Bitcoin triggered rallies exceeding 200%.
This pattern repeated when Musk called Dogecoin a "hustle" on Saturday Night Live, crashing its value by 40%—despite his previous tweets fueling its 26,000% surge in six months.
These verbal grenades ignited market chaos, liquidating over 30,000 traders globally with $37 billion in losses. While critics accuse Musk of "pump-and-dump," a cohort of 90s-era crypto traders remains unfazed, having learned hard lessons over 3–6 years in the trenches.
"Meme Coins Aren’t Sustainable—This Bull Run Is Ending"
Sun Tian: Internet marketer, 4-year crypto trader
"I see zero intrinsic value in Dogecoin," says Sun Tian, who avoided the DOGE hype train. Her early days taught painful lessons: investing $15,000 in sketchy altcoins, only to watch them vanish when dev teams disappeared.
Now, she prefers "sentiment trading" over speculation. In January, she allocated $2,000 to MEME coin—a DeFi token with strong community governance—planning to exit once profits hit $500. "Blind community euphoria is a red flag," she notes.
With Bitcoin declining, Sun and her peers are cashing out 20x returns from their March 2020 buys. "We’re exiting at this average—bull markets don’t last forever."
"Shorting Shitcoins, Long-Term Gains via Airdrops"
Song Lin: Blockchain marketer, 3-year trader
Song Lin scalped Dogecoin for $2,000 in a day but calls it "a shitcoin—cash out fast." His strategy? Micro-trading 5,000 RMB positions on volatile altcoins.
Airdrops are his steady income stream. After spending $100 to join a crypto platform’s VIP tier, he received 30,000 tokens (worth ~$7,700) but holds, betting on the project’s growth. "Early birds get the worm—if the team delivers."
"We’ve All Been Burned by Celebrity Hype"
Xu Wen: Traditional sector, 6-year veteran
"Old-school traders like me ignore Musk’s games," says Xu Wen, recalling 2015 losses from following "Crypto King" Li Xiaolai’s advice. His first Bitcoin purchase at $6,000 yielded 100% returns—a discipline he maintains: "Double your money, then exit."
He allocates 5–10% of his portfolio to new projects but warns: "Fake teams and empty roadmaps are everywhere. ‘Trust us, we’re building’ is the biggest joke."
Key Takeaways
- Meme Coins = High Risk: No underlying value, purely sentiment-driven.
- DeFi Offers Governance: Projects like MEME coin emphasize community-led decisions.
- Celebrity Endorsements Are Traps: Musk’s tweets move markets—but smart traders hedge bets.
- Airdrops Can Pay Off: Early participation in quality projects may yield tokens worth holding.
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FAQ
Q: Should beginners invest in Dogecoin?
A: Only with disposable income—expect volatility and exit at 20% profits.
Q: How do I find legitimate airdrops?
A: Research platforms with proven track records; avoid anonymous teams.
Q: Is Bitcoin still a good long-term hold?
A: Yes, but diversify—DeFi and ETH are strong alternatives.
Q: How much to invest in new altcoins?
A: Limit to 5–10% of your portfolio; treat as high-risk experiments.