All right all right, all right, all right, all right, all right all right! I know what you're gon na ask. I know the question you're about to ask. Am i on my boxers? No, these are my van gogh running shorts. It's a difference! Oh man.

What is up, everybody welcome to trades trades. We have technical analysis and different stocks in the stock market, as well as potential buy holders sell opinions on these. Given stocks, i like the profits by saying that i'm not a financial advisor nor expert so take what i say: the grain of salt, let's get into the video. So today, my friends, my family, my fellow gorilla gang.

This is trace trades. First, ever video talking about dogecoin and i'm not gon na make this video telling you that this is going to the moon over the next two three four days whatever it is, i actually want to talk about the actual sustainability of dogecoin. What this is why it's been running like it has, and if i think this is actually gon na, be something that can do this continuously over a long period of time, so uh with that being said, let's just kind of talk about what dogecoin is how this Began this is obviously a cryptocurrency. The majority of people know that dogecoin is a cryptocurrency, but the way that it came to be i mean we talk about amc, gamestop cost all of these different stocks.

As meme stocks, i saw somebody call microvision of meme stock. Come on what are you doing? Call my girl mama's, a meme stock. You silly freaking chicken, that's a bunch of silly chicken talk. This is a meme stock.

This is the very definition of a meme stock stock. So essentially, the way the dogecoin came to be right is there was this this news article coming out that said: hey you, could you could throw a freaking, a dog on a cryptocurrency coin and make it and it was. It was basically to talk about all the different altcoins that have come out over the period of cryptocurrency's existence right and they're, like you can make freaking any altcoin at this point. It would probably run up and the joke the meme itself gained so much sentimental value that it actually grew into what it is now.

This freaking cryptocurrency at one point traded for less than a penny. It has now hit 61 cents today, right. That is substantial growth. I saw an article.

This is back when uh, when dogecoin actually just hit 40 cents for the first time. That said, if you had bought a thousand dollars of dogecoin at the beginning of 2021, you could have bought a tesla now with all the gains that you had. I've seen freaking people who are dogecoin millionaires at this point, which is just freaking mind-blowing, and i think the question that a lot of people have is is this sustainable? Will dogecoin be able to to match this sort of growth for a sustained long period of time? Well, that's kind of a multi-faceted question with not a simple answer, but as an example i kind of want to talk about ethereum. Let's just look at this purely from a technical perspective right so ethereum.

I want to show you ethereum five years ago. I think this is actually a pretty fascinating thing, so ethereum five well actually we're gon na go uh. I didn't pick the right one ethereum. So if you look at ethereum five years ago right, you can see the amount of substantial ridiculous growth it has had in 2016, ethereum opened up at ten dollars and thirty cents and has been as low as 586..

Now, if you come back here, these are weekly candles, keep in mind. If you come back here and look at the growth that it had from 586 up to 58 bucks, people probably thought to themselves there's no way it can ever keep this sort of substantial ridiculous growth forever and ever and ever and ever and ever right. However, it went from from 58 bucks all the way up to 412 had a massive dip weeks, long dip a month straight dip from 412 bucks, all the way back down to 135 until it continuously ran up to about 1400 from there right. There was a couple year period of time where ethereum was pretty dry.

Not a lot happened, bitcoin went through the same thing. It was just a long period. Bear market followed by a long period of consolidation, a lot of equity getting pumped into this until where we are now, the cryptocurrency ridiculous bull market that has come to be ethereum has run all the way up to 3 535. Reaching all-time highs.

Ridiculous growth right, in my opinion, it's not sustainable, we're not going to have this rate of growth forever and ever and ever, but if you're, if you want to make money, there's opportunities to make money right now, obviously right! So where am i going with this right? What am i coming to say if you had bought into ethereum five years ago at 10, bucks, let's say 10 and you held it all the way up until now, it's trading at 3 500. You would have substantially, i mean you could have put a thousand dollars into this at 10 bucks and you would be - i don't know what the math comes out to, but a hundred thousand at the very least, probably a millionaire. I mean it's it's absurd and, while there's differences in the way that both ethereum and dogecoin work uh, essentially what it comes down to - is total sentiment towards the the crypto right towards the investment itself towards the security and what is fascinating about cryptocurrency in ethereum and Bitcoin is this decentralization right? It's this instant transaction settlement time is this idea of being able to pay for things in a very fast manner? I know that jordan belfort said he doesn't think crypto will ever be a form of uh transactions. I disagree with that.

Maybe that's just me and my age, showing maybe he's more wise than i am, but i don't think that's the case and i think the the instant transactions, the person-to-person transactions, the decentralized uh currency chain, is fascinating. I think there's a lot of things that can be done with blockchain. I think this is actually a segment of the market itself right that is continuing to develop right. You've kind of got like a stock market.

You've got real estate, you've got bonds and now you've got cryptocurrency, which is competing for liquidity and it's currently dominating the battle right now, let's bring in a dogecoin dogecoin, i'm showing this on weeble right, so you're not going to see the actual maximum amount of time That has been trading but i'll just show you the weekly candles here right. So if you had bought in, i know this was trading for less than a penny at one point, if you bought it at less than a penny and you'd sold at one cent or five cents or 10 cents, you would have substantially grown your money. You thought there's no way this can run more. This is over leverage.

This is overextended right. It just can't do any more than it's already done, but dogecoin has repeatedly kept showing up to the plate. When you look at this on weekly candles, the picture looks a lot different right. You can see that this is still substantially growing and making great progress towards where it's headed.

Now i say this because the title of this video is is, i haven't, come up with it yet, but it's gon na be something along the lines of if you hold dogecoin now it's gon na be worth it. You know years down the road and my answer to you is yes with an asterisk right. I think that dogecoin one two three four five years down the road is gon na be trading substantially higher than it is right now and it's not for any sort of special reason as crazy. As that sounds, i think it's purely because of sentiment.

It's because people freaking love this this this crypto meme. It's it's! It's really fascinating honestly, and it shows you the true shift right from old school, investing to new school, investing right people say this. This freaking cryptocurrency isn't worth jack. It's going to crash.

It's going to go down, yada yada, yada, yada, yada, and it very well might right and it could come down, and it could do nothing for two years like ethereum did, but how about three years down the road four years down the road five years down the Road, it would not surprise me in the least bit if five years from now dogecoin was trading at a hundred dollars, and i know that sounds absolutely absurd, because it's trading at 61 cents right now, but you have to keep in mind. This is trading at less than a penny like point: zero, zero, five or point zero, zero. Three or something is that was sixty one cents. I mean that's thousands of percent growth.

That's absurd, like people are millionaires off of dogecoin and it is insanely insanely over extended right now. I think it's gon na have a little bit of a correction. I think it's gon na pull back in the grand scheme of things, but if you're playing this long term years down the road, i actually think there's an opportunity to make a substantial amount of money here. Maybe i'm crazy for saying that maybe i should be making this video, but that's why i'm going to say this next piece is the way that i would treat personally dogecoin - and this is this - is kind of what i've done.

I've thrown a thousand dollars into this right, not a substantial amount of money. My dollar cost on this is like 33 cents or something uh i actually bought back here, so it was on the way down. I thought that it had uh reached its bottom. I thought it would get that nice bounce off that 50 retracement we're gon na talk about the technicals here in a second and a drop back down.

I continue to hold, because this is my viewpoint on it right. I am viewing dogecoin as a long-term investment. I i've told myself this thousand dollars that you put in the dogecoin tray uh. That thousand dollars doesn't exist anymore.

It's not in your pocket, you're, never going to see this again and if five years down the road i come back to dogecoin, and this is trading at 10. Bucks. 20 bucks. 50 bucks.

100, bucks - that's money that could be substantially life-changing, not just to me, but to anybody you know. So what? What is the way that i would personally play dogecoin? The way that i am playing dogecoin right is, i would put money into this if you want to play it long term, put money into this that you're willing to lose, because if things go south right and this ends up being just a pump and dump pump And dump, i don't think, that's even i'm pumping dumps last day, but you get my point right, it's a pump and then it ends up. You know, sizzling down, it loses sentiment. It loses its value.

Then you're not really out money that you cared about right. But if you put money into this that you're willing to lose and it continues to grow in sentiment, it continues to grow in price. You can look at an opportunity for life-changing money, so i say right: is it too late to invest in dogecoin if you're playing this short term? I definitely don't know if i'd buy right now. We know that we've got elon musk coming on uh.

You know snl pretty pretty soon here. I think it's saturday, i remember right, may 8th um, so that could be a catalyst and i think it's going to continue to run for the next couple of days leading into that. Maybe i'll have a little dip tomorrow. Maybe it won't, i mean there's no way that we can know for sure what i will tell you is it's very extended right now, so, if it weren't for that news catalyst, i think it would pull back.

But if elon musk says anything about dogecoin on snl, this will continue to move. So what i've drawn up for you right here is a fibonacci retracement right, we're looking at a previous trend, so we can take a guess of what might happen with the next trend. So what do we have here? I i measured out the days. This is a 10-day run that we saw back here and it ran from about 5.9 cents, all the way up to 46.6 and the retracement was somewhere between 50 and 61.8.

Outside of this very, very short timeframe, where you have some wicks that dip underneath that, so what i've done is i've drawn up a fibonacci retracement, since we can't see, what's already happened right or what will happen? All we can do is predict what has already happened. So if this were to be the peak right, the buy zone for me to add on a long term position would be somewhere between this 50 and 61.8 percent retracement. If you're going to play it long term right, so that would be somewhere between 39.2 cents and 43.4 cents, just based on the previous trends and the way this is retraced in the past and shown you know differing levels of strength right. If you want to play this in the short term, you're hoping that maybe on on may 8th saturday, i think it is elon.

Musk says something that absolutely blasts. This thing to freaking pluto and it's it's a buck. I would not be surprised in the least bit to see dogecoin hit a dollar on on saturday, but if you're looking at that, you know what i would watch for is a good engulfing, candlestick pattern and a good bottom. What it looks like right now is that dogecoin is actually forming a beginning of a bullish flag setup, and that is where you've got a long.

Freaking string of green straight action, candle bars right, followed by an ascending level of support, which we have right here and a descending level of resistance to find a respected level of support resistance, you're. Looking for at least three touch points you get them one. Two three four five right and one two: if we just adjust this a little bit here, three right, so you got three touch points right there. So i would anticipate sometime between you know now, and you know sometime tomorrow morning, you're gon na get a break either.

Above this decent level of resistance or be below this ascending level of support, and it's usually a hard move - it's usually a drastically hard move when it does get that clean break. So that's something i would watch for if you want, if you do, want to play dogecoin in the short term, but this is my approach right. I put a thousand dollars into this, and i've told myself if i'm wrong, i lose that grand if five years from now this is worth something ridiculous. Then i just made a pretty decent chunk of cash.

If that's, what i've kind of got for this, this short little video here about what i think of dogecoin, if it's too late and willis, actually have a sustainable future. My guess is that the sentiment of the people itself, the people that buy into the stock they literally buy this and they determine the value every stock, every investment, every every competition for liquidity. The price is determined by the buyer. If you are willing to pay 56 cents for that that specific security that specific investment - it's worth - 56 cents in that exact moment, that is the general consensus across the board of every single person who has bought or sold dogecoin.

They have determined for a sustainable amount of time. Literally months i mean this is going on for months, they've determined that this is a worthwhile investment that it's worth making money on that. This is worth the liquidity. It's a competition for liquidity and it's freaking winning the liquidity that is just going to continue to snowball and bring in new people and obviously we're an extreme extreme bull market for crypto right now.

This isn't going to last forever. I think you are going to have a situation where, like ethereum did where you have a pullback, a long period of consolidation, we've seen it right. We've seen that with dogecoin, i mean there's a long period of time before you get this nice nice rip, and you could look at that again in the future. So don't be surprised if that happens, if you're gon na hold this for a long period of time.

Right, you're not always gon na, have these ridiculous ridiculous, 30 40 50 days uh and when it does pull back it'll pull back hard. So, if you're playing the short term right just know, that's on the horizon know that's coming and uh that's kind of what i've got for the video today, so blah blah blah. You know whole spiel drop a like consider subscribing. If you enjoyed this stuff uh, that's what i've got for you! So thanks for watching my friends, my family, my fellow gorilla gang, much love catch y'all in the next one and peace.