Explain Dogeoin please

[Sony190]

I purchased 150 Dogeoin woke to find dollars profit 2 hours later the price up and down to $6 and back. Is this because of whales or because hodr are selling because more exchanges accept it now like Coinbase.

 

[Janus67]

No, you got it. You just explained doge and most crypto in your post, lol

 

[ZL1]

doge is a meme-coin, meaning it has no fundamentals, the price will fluctuate all day long based on sentiment and a certain group's feel of that sentiment, basically highly manipulated playground for Elon & friends

granted many cryptos share this, but some actually have a purpose and some fundamentals to fall back on, imo doge will fade away once this bull cycle is over, not die, but linger in the sub-pennies as usual