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As we get closer and closer to a Coin Base listing, which is barely days to weeks away, the shorts will look at each other and worry who will cover first. Who will be the one holding the cryptocurrency short as others cover, drive up the price, and create a FOMO wave of organic buying. Nothing has changed since the crypto DOGE went from a paltry cent to 73 cents like a Phoenix rising out of the ashes. Just simply Fear Uncertainty and Doubt of the paper hands. FUD creates amazing buying opportunities. Ethereum at 1900. Much wow! DOGE at .29. Very Currency! So Crypto!
I am backing the truck up and putting as many DOGIES in my truck bed as possible. DOGE is about to tear higher as the shorts panic and cover. If you aren't aware how this works, custodians loan DOGE to a short seller. The short seller sells the DOGE at the lent price. HOWEVER, the short seller does not make any money until the short seller covers, or buys the DOGE they already have sold. Short sellers are typically big institutional sellers, like Barry Silbert. Silbert sold Doge short on the night Elon showed up on SNL. The institutional short selling drove the price down and caused panic to enter the market. This is when the professional traders wait, see a consolidation, then buy more. We are at that point.
Now, short sellers like Silbert if they want to profit will have to buy DOGE. If the price of DOGE skyrockets from here and the short sellers have not sold, they could lose their entire investment. Technically, infinity is the short sellers loss limit. Gamestop showed this as several short selling hedge funds went bankrupt. So. DOGE has found a bottom and consolidated. Now, we have catalysts, like Coin Base, the Pay Pal custodial arrangement to transfer your Doge, companies like the Sheetz gas stations taking DOGE, DOGE being launched into space, and companies like TESLA potentially taking DOGE. DOGE is about to bite back! Short sellers: BEWARE OF THE DOGE!
LOVE,
BIT DOGE
