If you’re new to the crypto world, I’m going to provide you with a list of cryptocurrencies to watch.
Cryptocurrency has earned early investors millions and even billions of dollars in ROI.
You might be thinking, is it too late to buy crypto? The short answer is absolutely not.
And if you’re not invested in crypto yet, I’m going to leave a link at the end of this article of my step by step guide on how to buy cryptocurrencies.
Welcome to Franknez.com – if you’re part of the Patreon you’ve seen me adding a few cryptocurrencies to my crypto portfolio lately. Today I want to talk cryptocurrencies and why these powerful assets will keep on surging.
Let’s get started!
Now, a lot of you might be familiar with Dogecoin, Bitcoin, and Ethereum. These are some of the most popular cryptocurrencies out there.
Just recently Shiba Inu Coin began trending as well.
These so called ‘speculative’ plays have earned investors gains unlike anything else in the markets.
These are the powerful crypto plays that are nowhere near done growing!
#1. Ethereum (ETH)
Shark Tank star and Dallas Mavericks owner Mark Cuban just said, “as an investment, I think Ethereum has the most upside.”
And he’s not the only one who speculates ETH is in it’s infant stage either.
But before I continue, this article won’t be about the technical side of the cryptocurrencies themselves but rather a worldview of the crypto’s upside as an investment.
“In a recent Forbes article, a panel of crypto experts including Sagi Bakshi and Lex Sokolin predict that ETH could rise as high as $19,842 by 2025 and that by the end of 2022 it could be the most widely transacted cryptocurrency due to its expanding utility in the marketplace”, via Crunchbase.
At the publication date of this article, ETH cryptocurrency is trading close to $3.9k.
Joe McCann, an angel investor and crypto margin trader believes the Ethereum could even reach as high as $50,000.
In today’s market news, the SEC is imposing a new rule that would force money managers to periodically disclose short sale reports.
Hedge funds have already begun to retaliate against the rule as it would give away their ‘trading strategies‘. But hedge funds have also been overleveraging their positions in plays such as AMC and GameStop.
How will this rule make an impact on both these short squeeze plays? I want to discuss why this is very positive news for AMC, GameStop, and other ‘meme stocks’.
Welcome to Franknez.com – I think it’s safe to say most of you have no faith in the SEC. However, I feel like it’s important for us to intentionally look towards regulators to create real change. We cannot be loud and in the end expect nothing out of it. If we’re going to be loud, expect change to be the result of your efforts. Demand it.
Let’s get started!
Gears Have Begun To Move
Why does change take long? Change usually requires a specific amount of energy to begin manifesting in present time.
The energy it takes to change the color of your living room walls will take more time than the energy that is needed to change a lightbulb in your restroom.
Apes have been asking for massive change; monumentalchange in the markets.
The change we yearn does not happen with a flick of a switch. The change we’re looking to make will affect millions upon millions of people, even after our stories here on earth are done.
For a movement to make history, massive amounts of action and energy are required. Hence the length of real change to become present.
The community has made itself known to real entities with legal power to make change happen. I’ve been saying it for months now, your voice is a powerful weapon against the corruption in this world.
And because of your boldness and your courage, the gears towards monumental change in the markets have begun to move.
What Does Short Sale Disclosure Mean?
A short sale disclosure would allow the SEC to have full disclosure of the amount of shares that hedge funds are borrowing from other institutions to short stocks in the market.
Here’s where it gets interesting.
We know that hedge funds have been overleveraging their positions through phantom shares, or naked shares (non-existent), due to failure-to-deliver data, dark pool trading percentage, and anomalies in intraday charts that push the price down regardless of buyers outweighing sellers.
A short sale disclosure would mean hedge funds by law will be required to show regulators the powerplant behind the curtains if they are to continue these type of operations.
And hedge funds are nervous. We’ve seen hedge funds beg the OCC to delay liquidation, and are now seeing pushback regarding this new short sale disclosure rule.
Short Sale Disclosure Could Eliminate Naked Shorting In The Markets
At least theoretically right? Hedge funds are able to report information to regulators that essentially lands on a ‘safe zone’ type of filing.
Often times market manipulation is overlooked due to the misinformation that is being reported.
A short sale disclosure puts immense pressure on hedge funds. It could prevent them from engaging in illegal shorting strategies.
Failing to do so could open the possibility to regulators suspending these strategies in general. I don’t doubt that in the fight for a fair market this could become a reality.
A short sale disclosure could be seen as a type of audit to monitor hedge fund activities. The anomalies in the market have gotten the attention of Gary Gensler, chairman of the SEC.
And as I mentioned earlier, it takes a lot of energy and time to get the gears moving.
The short sale disclosure rule could be proposed by November next month, via Bloomberg intel.
Community, this is very optimistic news. We can’t keep attacking the very people who can actually impose regulations on this powerful adversary.
We are a very intelligent community. Let’s not self-sabotage our opportunity to make a real and positive impact in the markets.
Could Short Sale Disclosure Trigger Margin Calls?
If buying power is exceeded, or overleveraged, it’s possible hedge funds could face margin calls. Margin requirements could be raised and accounts may get liquidated depending on the short sale disclosure information.
It may sound simple but know that the markets are far from simple. Hedge funds will not go down without a fight.
But if you’ve seen Ken Griffin recently, it looks like the boss battle is almost over.
How Will This New Rule Affect ‘Meme Stocks’?
Take away massive shorting in the markets and you’ll get the real picture of what a real supply and demand market looks like.
If you analyze the technical chart data of AMC and GameStop you’ll find that the price moves down when it should not be moving down.
You cannot compare how massive buyers are compared to sellers in both these plays, yet we see the price of these stocks get driven down when supply and demand should be narrating a different story.
Hedge funds have been manipulating AMC and GameStop’s price action to benefit financial institutions in a market that’s better-tailored for one player.
This is why the SEC is also implementing the Market Structure Modernization rule. Market plumbing has drawn big attention from politicians, investors, and regulators alike.
The SEC will be targeting PFOF and the market dominance of financial firms, including Robinhood and Citadel Securities.
This would be massive! Retail investors do not trust Citadel to process their securities.
Eliminating the flow of transactions to this financial firm could mean a massive difference in FTDs, and even dark pool trading!
However, this rule could come by April. Change takes time.
Here’s Why An AMC Rebound Is Right Around The Corner
I published this article explaining why I believe AMC will rebound soon. The data has to do with short interest and volume patterns.
A lot of you have shared this article recently and I actually appreciate you for doing so.
I know all too well what it feels like to just want this play to simply pop. Every single one of us has this in common.
Time is on our side, don’t forget to enjoy the present.
Community, it brings me great pleasure to provide you with some more high short interest data. Some of you wanted to know my personal thoughts on BBIG stock.
Right away, I can tell this is a great play and see why many of you were holding this particular stock. Lets talk about it.
Welcome to Franknez.com – you already know what’s going on, haha! I’m going to be publishing a new YouTube video every Monday and Friday so be sure to subscribe at the end of this article. I’ll be leaving the link below.
This company is fairly new to the market. Its IPO price started around $5-$6 per share back in 2018. The stock is currently trading around $6 per share.
BBIG stock has been trading double its average volume which shows a massive interest in this acquisition company. I could go over earnings reports and other fundamentals but we’re not here to talk about fundamentals.
BBIG stock is currently heavily shorted.
BBIG Stock Short Interest Data
Lets go over the latest Ortex short interest data to see just how heavily shorted this stock is. BBIG’s short interest is considered to be extremely high at 23.61%.
The amount of shares being loan is a whopping 26.91 million and the utilization is currently at 98.80!
The demand for borrowed shares to short the stock is insane! Our community has identified that stocks with these high short interest numbers means its possible to squeeze shorts from their positions.
We’ve also noticed that gamma squeezes and quick runups actually take months of buying and holding to manifest. BBIG stock was trading $1.25 back in January of this year.
If you bought the stock then, that means you you 10X’d your initial investment. 1,000 shares of BBIG stock would have earned you $10,000.
Despite the f’ery in the markets, you have to admit the stock market is an amazing tool to multiply your money.
Will BBIG Stock Keep Going Up?
BBIG stock certainly has the potential to continue surging. Retail investors will have to keep a bullish sentiment and attitude towards the stock in order to see higher gains come to fruition.
BBIG is at an all-time high right now and it’s possible retail investors begin to selloff and begin taking profits. This where short sellers can double down on their positions and further bring the stock price down.
BBIG shareholders will have to refrain from selling if they are to set new levels of resistance and support. See, the crazy thing is that shorts have not covered their positions in this stock and you can tell due to the massive short borrow fee rate and short interest.
Short sellers are paying a 146.02% to borrow the stock! If you’re already paying 24%-32% on your credit card, imagine their fees!
With proper momentum, retail investors can certainly experience a BBIG short squeeze, where short sellers are forced to close their positions driving the stock price up.
How High Can BBIG Stock Go?
I cannot make a prediction on the stock price ceiling since BBIG has recently passed its initial IPO stock price. However, what I can tell you is that the stock has much more room for growth than it’s current trading price of $6 per share.
Should You Buy BBIG Stock?
I’m going to be one hundred with you guys because your success is extremely important to me. I don’t hold BBIG stock but have it on my list to buy. If you’re looking to diversify your momentum plays, this could be a stock with lots of potential.
Of course, it’s the community that holds the sentiment behind these massively shorted stocks. And I think that as more retail investors begin to diversify, these stocks will continue to soar in the long run as long the stock is being bought and held.
If you’ve been reading FrankNez for quite some time then you know AMC is my main play, no questions asked. This article isn’t to convince you to buy BBIG stock, but to merely present to you the short interest data so you can make a financial decision for yourself.
I’m personally bullish on this stock and can see it gaining more traction as more retail investors buy into it. Something to keep in mind is that after significant gains a stock is usually quick to drop. And this is primarily due to some investors taking profit combined with short sellers doubling their positions or new short sellers getting in.
If you’re thinking about buying the stock, I would personally wait for a dip; especially after seeing these all-time highs. Because the short interest is so high and the utilization is so high, BBIG stock could prove to provide significant gains down the road as it already has for early investors.
I’d love to know your BBIG stock story. Are you an early investor or are you looking to get in? And, what other momentum stocks are you holding? Would you like me to publish an article on other stocks? Let me know in the comment section below.
But before you do, subscribe to the newsletter to get notified when a new blog article is published; or you can also connect with me on social media. I’ll be leaving the links below.
With that being said, thank you for taking the time for reading the blog and for being here right now. It means more than you could ever know.
A meme stock is a heavily shorted stock discovered by retail investors, usually on forums such as Reddit or other sub communities.
Retail investors will then hype these so called ‘meme stocks’ and immensely increase the buying pressure of a particular stock to drive the share price up.
How Long Does It Take For A Meme Stock To Go Up?
We’ve seen that these stocks may take a month to several months to see some serious upswings in the market. Retail investors pump the price by buying the dips and holding the stock until their mission is a success.
While not all meme stocks are pump and dumps, the concept is to pump a stock and hold it to further elevate the floor.
The end goal is to squeeze shorts from their positions to drive the stock price ‘to the moon’. Here’s the most current list of meme stocks seen in the community.
#1. GameStop, GME Stock
Number one on my list is GameStop. GameStop notoriously put many short sellers and hedge funds under stress, starting this incredible retail movement.
GME stock began squeezing just below $500 per share before Robinhood halted buying pressure from retail investors, ultimately limiting its growth potential back in January.
This meme stock is currently up more than 1000% year-to-date. Retail investors continue to hold the stock in order to squeeze the remaining shorts from their positions.
And by far the most popular meme stock at the moment, AMC Entertainment stock. Retail investors who missed getting in early on GME stock saw AMC stock was heavily shorted and decided to bulk up on this meme stock.
The stock sharply rose up to $20 per share in late January before ultimately coming back down to $5 per share. After several months of ‘apes’ buying and holding the stock, AMC Entertainment stock rose to $72 per share and found a new bottom around $32 per share.
The meme stock has been trading in the low $50 range and is currently set up for a short squeeze.
Before its merger with the blockchain compamy Greenidge, SPRT stock had reached a high of $35 per share before ultimately plummeting back to $11. It has now merged with Greenidge and its ticker symbol is now GREE.
This meme stock perhaps lost its status as it still had potential to squeeze higher prior to the merge. However, this stock still caused quite a disruption for short sellers shorting the stock.
This stock has now become a long-term stock depending on your conviction towards blockchain technology.
GME has been in the high $100s but has now reached $200 again. AMC finally broke its floor of $30 per share and is trading in the low $50s again. The other meme stocks show an increase of short interest data which means they still have room for growth.
Want To Stay Updated On These Momentum Plays?
If you’re thinking about investing in one of these momentum stocks, be sure to do your due diligence first before putting some serious cash first.
Once you have the data at hand, make an honest assessment for yourself and decide whether it is the right financial decision for you to make.
The AMC community has proven to be one of the most open, accepting, and positive communities so I definitely recommend checking it out even if it’s to see what the discussions are about.
Luckily, I update the community with trending stocks and keep an eye out on the data so you’re up-to-date on the next stocks to buy before they blow up. My readers who found out about AMC early this year are now up tens to hundreds of thousands of dollars!
Consider subscribing to the newsletter for more content like this, straight to your inbox! Do you have a position in any of these meme stocks? Or as I like to refer as momentum stocks. Let me know in the comment section below.
You can connect with me everywhere you go by following me on:
A while back I wrote an article debating which stock you should invest in, AMC or GME stock? The premise of that article was to identify which stock was more convenient for the new retail investor.
See, both are great momentum stocks to hodl, but GME stock is a lot more expensive for the newcomer to buy. And although AMC has now become the more popular stock, I have a good feeling those hodling GME stock can still see massive gains. Here’s why.
Welcome to Franknez.com – today I want to talk about GameStop stock, ticker symbol GME. Lets look at the data that states this stock is not done climbing up.
Lets get started!
If you’re like me, you probably didn’t get a chance to get in on GameStop before it began to create a ruckus in the financial world. Or perhaps you were lucky enough to get a few shares.
I’m a strong AMC shareholder and will not buy GME stock only because I rather increase my position in AMC. AMC’s short interest is higher, utilization is higher, and so are the shares on loan. It’s also more affordable.
But don’t get me wrong, the reason I’m publishing this post today is because GME stock has enough data that proves it has more juice to squeeze. So, if you’re holding GME stock, this article should help you armor up your conviction towards your stock.
A high demand for shorting GME stock means there’s a play to squeeze shorts out of their positions. GME shareholders still have a chance to make a ton of money.
Short sellers have not backed off from shorting GameStop and continue to play with fire.
Will Utilization Go Up Again?
If more short sellers open short positions then GameStop’s utilization will certainly go up. At the moment, it seems that there’s only 34% of the stock that’s being borrowed.
I personally don’t think shorts will try to go up against GameStop again. Those that are still shorting it have been holding on for quite some time. However, it’s only a matter of time before they too close their positions and GME stock surges again.
GME Stock: Shares On Loan
GME’s shares on loan refers to the number of shares that are being borrowed. GME stock has approximately 6.80 million shares on loan. We essentially convert the utilization percentage into the actual number of shares that are being borrowed.
That’s a lot of shares that still need to be covered by short sellers borrowing the stock.
GME stockholders could take advantage of the fact that the stock has been on discount recently. Especially if you’re still looking to increase your positions in GameStop stock.
Otherwise, GME stock is a hold play right now where patience will bear some sweet fruit very soon.
This puts short sellers under tough conditions since they’ll need to keep more cash at hand to continue borrowing AMC and GME stock.
And although we’ve seen a little bit of institutional selloff, Charles Schwab continues to hold GME stock. An institution that has not sold GameStop is Vanguard. Vanguard is one of AMC’s biggest institutional holder who continues to buy the stock to-date.
So if there’s something GameStop shareholders can take from this is that institutions are still holding GME stock, and there are still enough short sellers to squeeze out of their positions.
How High Will GME Stock Go?
So, can GME stock reach $1,000 per share. It’s certainly a possibility given that GameStop’s dark pool trading percentage is rather high, according to Stonk-O-Tracker data.
Dark pool trading in GameStop has ranged between 30%-50%. This means 30%-50% of short selling has occurred behind closed doors. Short sellers are able to keep their short borrow fee down with this loophole as well as conjure up naked shares to swap with one another.
However, they’ll eventually have to close every synthetic share they’ve ‘borrowed’ to short the stock. This is massive for GameStop just as it is for AMC.
Is It Too Late To Buy GME Stock?
I would say that you will no longer be able to buy GME stock below 3-figures. If this figure is too expensive for you to build your portfolio then it absolutely is too late.
However, if you’re looking to diversify your momentum stock portfolio, GME stock could be a good stock to hold. Otherwise, you’re better off buying the heavier shorted stock that is significantly more affordable at the moment, AMC.
Subscribe for more stock market news
If you enjoyed this article be sure to share it with someone who needs to see it and subscribe for more stock market and investing news.
New articles are posted daily and emailed out to each reader. Or you can follow me on social media to see when I share a new publication.
Are you holding GME stock? Let me know in the comment section below how high you think the stock can go.
Many of you might be wondering what happened to SPRT. The stock climbed before plummeting back down. Even today the stock continues to trend downwards.
If you’re holding SPRT stock for a short squeeze, don’t worry. Some retail investors cashed in and shorts continue to massively short it. But the data doesn’t lie.
Welcome to Franknez.com – if you’re subscribed to the YouTube channel then you saw my announcement about this particular article. Today I’m going to discuss SPRT stock and its short squeeze potential.
Lets get started!
Disclaimer:this is not financial advice but merely my opinions based on the data that is out there. I am a strong believer in the data and so it is my duty and obligation to share it with you.
SPRT Short Interest & Utilization 🚨
I want to begin by saying that I personally took a position in SPRT stock when I saw that the short interest was at 75%. The utilization was around 90 and I decided to park some money in this momentum play.
I’ve been tracking the short interest data to see whether I had made a bad investment and should cut my losses, or whether this power play was only the beginning.
It turns out that although SPRT stock has been taking a nosedive, both the short interest and utilization have skyrocketed!
The current short interest at the time of this publication is: 93.52%
Ladies and gentlemen, shorts have not fully covered their positions in SPRT.
Why Is SPRT Stock Going Down?
We have a selloff going on right now with some retail investors still holding some, or all of their stock. Shorts continue to attack the stock in efforts to make money as investors also take profits.
We saw SPRT go below $20 and retest above it again. It’s still too early for me to identify whether this will be a new resistance level or perhaps a new floor.
What I can tell you however is that as the stock price has gone down, the short interest data has surged. This tells me new shorts are getting in on SPRT and perhaps even doubling down on their positions.
SPRT Short % of Free Float
On the latest updated short interest history data from Ortex we can see that the short percentage of the free float has been steadily increasing all year.
And although we can’t see the settlement date for September yet, we know from the short interest and utilization alone that this number is only increasing.
So what the guys who discovered this play really did is just expose this ‘other‘ short squeeze play.
This article is not to tell you to jump in on this play. But rather to let you know that if you’re holding this stock and are negative, don’t cut your losses because there’s a strong possibility this stock can jump back up.
Since the short interest continues to skyrocket, I will be holding my position in SPRT. I would have cut my losses if the short interest data was plunging.
If the SI was continuously going down it would let me know that shorts were getting out of their positions, or the stock wasn’t being heavily shorted anymore.
But when the short interest is this massively high, retail has the power to squeeze shorts from their positions.
SPRT Short Squeeze Prediction
A lot of retail investors who caught SPRT early took profits from the pump to our beloved AMC or GME plays. Kudos to you!
Personally, SPRT is a side mission like it was for many of you. My main play is AMC and I continue to buy AMC. If you’re on my Patreon, you get notified when I add to my position on any play.
If we look at the data from AMC and GME, we’ll find that these plays will have moments of consolidation, upward trends, new floors, and repeat.
Looking at the SPRT stock chart, we can see this pattern too.
Retail has the power to bring heavily shorted companies back to life. SPRT had an IPO price of about $90 per share when it first became publicly traded.
Short sellers have been shorting this stock for years. Their increased positions signals they feel threat from retail investors. Our community is the biggest threat to short sellers right now, and moving forward.
I believe squeezing shorts out of their positions can easily put SPRT stock above $100 per share.
Should You Buy SPRT Stock?
If you’re looking to diversify your momentum plays with another high short interest stock, SPRT could prove to be a profitable trade in the long run.
The float is smaller than AMC’s and GME’s, the short interest is higher, and there’s absolutely opportunity to make money here, at least according to the data.
I’m personally just holding my position in SPRT for now. If add to my position, it will be after I add to AMC or crypto first.
Are you holding SPRT for a short squeeze?
What’s your SPRT story? I’d love to know. Did you get in on the stock early, after the runup? Do you have more information I don’t? Leave a comment below.
But before you do that, I want to say thank you for taking the time to read the blog and I appreciate you being here.
Get mind blown. The feds are cutting off what could be the last lifeline institutions have for borrowing money. They’re hunting down a whopping $720 billion dollars from a reverse repo.
Welcome to Franknez.com – the blog where you can digest content on personal finance, side hustle ideas, entrepreneurship, and trending investing topics.
Lets get started!
What is a reverse repo?
A reverse repo is where feds receive money from institutions such as hedge funds or banks due to borrowed securities; usually due to cash flow issues. The reason an institution would borrow money from the feds is because they don’t have other cash reserves. When hedge funds borrow money from the fed it usually means it’s a last resort type of situation.
How does this connect with AMC?
Why is this is significant to AMC and the ape community? The feds need their money back, like now. This could explain all the selloffs in the markets. It seems like institutions have liquidated a lot of their positions in the both the stock and crypto markets in order to pay back the feds now.
If hedge funds and institutions don’t have enough capital left in their margin accounts then they’re going to be in some real deep waters. This could finally be the end of it my friends. Short sellers’ nightmares have truly become a reality. I hear margin calls baby. Lets dive in some more.
The Federal Reserve is stepping in
Right off the bat I want to point out that the Federal Reserve is collecting $720 billion back from institutions who borrowed the money. What’s insane is that this maturity, or expiration date is on NET15 from the issue date of Wednesday June 9th, 2021.
This means institutions who borrowed all this money have to pay it all back by June 24th. This could very well explain why the stock market as well as the crypto market have tanked recently. Institutions need cash ASAP.
It’s likely institutions such as hedge funds needed to liquidate their accounts in order to pay back the feds. I mean what else could have possibly caused the entire markets to tumble all at once?
If institutions were borrowing money from the fed as a last resort, what does this mean for hedge funds moving forward? Will hedge funds who borrowed money from a reverse repo be able to cover their minimum margin requirement? And if so at what costs?
Will hedge funds be able to pay back the feds?
Hedge funds borrow money from repos as leverage, betting that they’re going to make money from shorting stocks before they pay back the feds. Unfortunately for hedge funds, they’re suffering major losses and the feds want their money back.
Any institution that has been shorting AMC, GameStop and other ‘meme stocks’ will be paying back the feds at a loss. But it gets worse for short sellers.
Not only are they paying the feds interest, but they’ve also paid a short borrow fee interest all year to borrow stock. Hedge funds are getting hit with a storm of karma if you ask me.
According to Business Insider, hedge funds lost well over $6 billion dollars since the start of May alone and short sellers have lost another $5 billion dollars since the start of the year. Millions more are disintegrating by the day.
Hedge funds are having a terrible 2021 to say the very least. I said this many months back and I’ll say it again. They should have closed their positions when AMC’s stock price fell back down to $8-$14. But I guess ego is king right? Their year is about to get a whole lot worse.
Reverse repo’s are when feds loan money to institutions having cash flow issues
Institutions have to pay back $720 billion dollars by June 24th
Hedge funds continue to lose millions to billions each day and are running out of lifelines
Short sellers could face margin calls very soon if they cannot meet minimum margin requirements
This is a very exciting time for retail investors. Something incredible is unfolding right before our very own eyes.
Not only is history being written, but justice will be served for the 2008 financial crisis. The average retail investor is about to make the trade of a lifetime.
Will AMC finally squeeze?
I personally think we’re about to start seeing gamma squeeze after gamma squeeze. This will primarily be due to the continued buying pressure from retail investors as well as institutions losing a lot of money, resulting in willingly closing out their positions. And if it’s not willingly then the significant loss of money could lead to immediate liquidation through margin calls.
Short sellers will cave in, they will lose. Whether it’s now or later it really doesn’t matter. But they will. Just like a short squeeze, their fate is inevitable.
AMC Stock – Feds are done with hedgies
I want to leave this video from Trey the man himself regarding this topic on the reverse repo. If you aren’t subscribed to Trey yet be sure to do so.
He’s a technical analyst that sparked this entire movement with AMC’s short squeeze. I have a tremendous respect for Trey and will always give credit where it’s due.
And lastly. . .
If you found this article to be of value be sure to share it with the rest of the community. Most hedge fund affiliate media platforms will not report the positive occurrences that play in the retail investors favor.
It is up to us to help new retail investors become aware of the situation at hand and all news related to AMC.
This is why I publish articles that support the AMC community and the cause to the absolute fullest. The public deserves to know this information and they deserve this chance 💯.
Dogecoin has taken the internet by a storm. This cryptocurrency keeps increasing in value and it’s leaving old economic ways behind. Doge is currently known to be ‘The Internet Currency’ since the takeover of memes and online trading. Although Dogecoin started as a joke, it has now succeeded as a peer-to-peer cryptocurrency.
Doge has hit another milestone thanks to no other than Elon Musk who seems to love this cryptocurrency and its community. Dogecoin soared 800% in just on day in late January. We saw a spike in AMC during this time as well.
Now, the fact that Elon Musk can tweet out a meme and allow a community of investors to make money from it is hilarious and amazing at the same time.
The influence man. We’ll go over that a little later. Let’s go over why Dogecoin is causing a disruption and frenzy everywhere online.
Welcome to Franknez.com – the blog where you can digest content on personal finance, side hustle ideas, entrepreneurship, and trending investing topics.
Lets get started!
What is Dogecoin?
Dogecoin is a digital currency that can easily be sent online from person to person with total security.
You can send Dogecoin to people internationally within seconds. Dogecoin is also now being accepted by online retailers! This means you can use it actually purchase both digital and hard goods from businesses accepting this form of payment.
Dogecoin Cryptocurrency launched at the end of 2013. It rose in popularity at a time when the creators were just beginning to explore the possibilities in regards to Bitcoin’s invention.
It is currently a hype coin due to the Reddit community teaming up to take it to the moon. Which by the way they’ve done an excellent job in, attracting multiple celebrities to the cryptocurrency and meme community via Twitter.
Dogecoin currency was originally copied from an earlier cryptocurrency known as Luckycoin, which no longer exists. In 2014 Dogecoin’s mining process was integrated with Litecoin’s.
What is cryptocurrency mining?
Mining is a term used when cryptocurrency data such as transactions and data blocks are being recorded in a blockchain.
So, who created Dogecoin? The developer known to invent Doge are Billy Markus and Jackson Palmer. Their idea came about when deciding to create a form of payment that could be instant, fun, and free from traditional banking fees.
What can I purchase with Dogecoin?
You can buy gifts, groceries, services, and pretty much just about anything else the dollar can buy online.
You’ll be surprised that the Dallas Mavericks are have accepted Doge as a form of payment for both tickets and merch.
In fact, they are currently the largest Dogecoin merchant in the world. More on that below.
Companies accepting Dogecoin as payment
A few companies such as The Kessler Collection announced that it would be accepting Dogecoin for payment at its hotels through their partnership with BitPay.
The Kessler Collection owns some of the biggest hotels and resorts including the Beaver Creek Lodge, Casa Monica Resort & Spa, Elliot Park Hotel, and Grand Bohemian Hotel Asheville to name a few.
Even the adult entertainment industry has begun accepting Dogecoin payment along with Bitcoin and Ethereum.
Dogecoin is primarily used in the gaming and streaming world as a means to tip content creators. We’ve seen this on Reddit and Twitter.
However, more and more mainstream companies are accepting cryptocurrency as a form of payment. The question is how did all of this blow up?
Why is Dogecoin so big?
Dogecoin is revolutionizing the way we transact and buy things. There is no middleman or bank to process your transactions or take a cut.
Every transactions is also completely anonymous.
Dogecoin has a block time of 1 minute while other cryptocurrency has a block time of approximately 10 minutes. This means transactions are a lot quicker if you’re using Doge. This is something people really love about Doge.
Because of this, Dogecoin is a better use-case as a currency than other cryptocurrency because of how convenient it is.
The power of social media
Elon Musk took to twitter his personal support for Dogecoin. SpaceX’s CEO influenced Doge to soar more than 100% from one tweet alone.
But that’s not all, Elon has now published several tweets regarding cryptocurrency in general, we’ve seen this with Bitcoin too. Elon has figured out that his influence can legitimately increase the price of an asset.
We wonder if this is all a test. Can he do this with other assets?
Well, people figure he can. Retail investors and meme investors alike tweet Elon every day pitching him ticker symbols to call out. This of course is in hopes that said stock will see a surge in price action.
Oh come on Elon, do us all a favor!
Elon Musk Tweets Doge
While some people might have thought Elon to be a little crazy for supporting cryptocurrency, the Reddit community surrounding these meme stocks and coins have praised Musk.
When you have someone as big as Elon Musk supporting your community it no longer becomes a joke. He’s even announced that you can now buy a Tesla with Bitcoin.
For those of you who thought cryptocurrency was just a trend, think again. Cryptocurrency is changing the way we transact and view the digital world.
Other celebrities that have endorsed Dogecoin include Snoop Dogg, Gene Simmons, and Kevin Jonas. Mark Cuban just recently announced he would be accepting Doge as a form of payment for tickets and merchandise.
We’ve seen Mark support what retail investors are doing in the meme world of stock investing as well. He’s mentioned on r/wallstreetbets that his 11 year-old son took a position in both AMC and Blackberry stock via. Markets Insider.
The Dogecoin community and foundation raised about $50,000 worth of Doge in 2014 for the Jamaican Bobsled Team, which had qualified for but could not otherwise afford to attend the Sochi Winter Olympics.
This act inspired a second donation by the Dogecoin community led by Eric Nakagawa. Donations were collected to build a well in the Tana river basin in Kenya with Charity: Water. They raised approximately 40 million doge valuing $30,000 at the time.
In this same year, the community also raised 67.8 million Dogecoin, approximately $55,000 at the time, in an effort to sponsor NASCAR Sprint Cup Series driver Josh Wise. Also nicknamed ‘Moonrocket’. The car featured a Dogecoin/Reddit paint scheme.
What’s the difference between Bitcoin and Dogecoin?
Dogecoin stands out as being the easiest and quickest to transact. Another advantage this cryptocurrency has over Bitcoin is that it’s cheaper to use.
This is mainly because until recent times it’s been less popular than Bitcoin.
Bitcoin has a max supply of 21 million gill which means it’s a deflationary type of currency. Because there’s only an exact quantity of currency, the price action will continue to surge as the demand for Bitcoin increases. This is Bitcoins advantage.
Dogecoin on the other hand is an inflationary currency which means we continue to make more of them. Just like our USD. It’s initial supply was capped at 100 billion DOGE, but developers scrapped this idea a few months after the launch.
10,000 dogecoin is being created every minute. Unlike Bitcoin, there’s no limit to how much doge can exist. While Dogecoin can spike in the short-term, it’s highly unlikely it holds its value once more people start using it. This is primarily due to the fact that Doge is being created every minute.
What does this mean for the price of Doge?
Because Doge is not rare, all this means is that it’s going to take a lot more work for Doge to increase in price. Once the entire world is using Dogecoin, chances are 1 dogecoin will equal 1 dogecoin.
Can Dogecoin reach $1?
According to the market cap, Doge is worth approx. $0.31. In order for Doge to reach one dollar it would need a price increase of 300%. That’s quite a big jump.
The market cap would have to be approximately 125.4 billion which is an insane number. Doge will have to grow larger than the top 8 cryptocurrencies combined:
The closes cryptocurrency with that market cap is Ethereum. Doge could potentially reach $1 but it’s going to take quite some time.
The question is, will there be enough hype and people getting in on the cryptocurrency to increase the market cap up to 125 billion?
You be the judge.
What’s with Doge 4/20?
Doge 4/20, also referred as Doge Day, is the day the Dogecoin community hopes to celebrate the day Doge reaches $1.
Even Snickers is getting in on the celebration!
Snickers even went as far to put a Dogecoin gif on a Snickers bar candy wrapper. You gotta love the hype!
Even if Dogecoin doesn’t go to $1 on April 20, it’s highly likely the community marks 4/20 as DogeDay.
So what exactly happened on DogeDay 4/20?
They cryptocurrency actually dipped with many investors continuing to add to their positions. DogeDay could have really used a tweet from Elon.
Recent Dogecoin news
Dogecoin crashes Robinhood: Robinhood just recently announced that they would be allowing their users to buy Doge from the platform. The results? A massive crash. Though, everyone was still able to buy Doge.
A petition for Amazon to start accepting Dogecoin has surfaced on change.org. You can view it here. If that happens then the price of Dogecoin will skyrocket.
With Dogecoin getting more popular by the day, it’s no surprise transactions crashed Robinhood.
Investors beware, Robinhood is no longer known as a quality trading platform since the halt of GameStop and AMC purchases. Don’t say you weren’t warned.
If Dogecoin is accepted as a from of payment from Amazon, this will influence more people to by the cryptocurrency, as well as increase it’s value. Whether this happens or not we’ll just have to find out. This post is continuously being updated as recent news and updates emerge.
Where can I buy Dogecoin?
Here’s a list of exchanges where you can buy Dogecoin:
Your English platforms will be Kraken and Binance. I personally use Kraken. The layout is simple and easy to use. Plus, they have a kick-a** artwork!
Making my first deposit in Kraken was easier than I thought and it didn’t take long at all for my deposit to go through.
They claim they have the lowest fees in the industry, though I still think a few bucks is a little too high for transfers.
Even so, purchasing cryptocurrency seems quicker and easier than purchasing stocks which is something I really liked. Perhaps it’s Krakens quick layout that makes it seem so easy to transact. I highly recommend it though, be sure to check this exchange out for yourself.
How much does Dogecoin cost?
Dogecoin is currently trading around $0.39. and is ranked #5 on the watchlist via. CoinMarketCap.
The top exchanges for Dogecoin are Binance, Huobi Global, OKEx, FTX, and Upbit.
Will Dogecoin keep going up?
As long as people keep buying doge the price action will continue to go up. We’ve seen institutions and companies start to buy this cryptocurrency for quite some time now.
This reminds me of what’s going on with AMC Entertainment at the moment. More and more institutions are bulking up on the stock. We’ve seen that this of course drives price movement.
As doge continues to grow in popularity, so will its price.
Should you buy Dogecoin?
Dogecoin has the potential to be a crazy short-term investment. If you’re looking to make a quick trade then Doge could be for you. Especially with heavily influential people driving the value up with a single tweet.
Dogecoin is a token that can be easy to transact in online communities. If you’re active in communities that accept it then it can be a great currency for tipping content creators you appreciate.
Or, if you want to simply be a part of the Dogecoin movement and have some cryptocurrency in your portfolio, buy it.
How can I keep my cryptocurrency safe?
It is best not to keep your cryptocurrency in your exchange accounts. You can send your cryptocurrency to a cold storage wallet. These are basically USBs with passwords. Ledger is a company known for it’s cold storage wallets.
If you happen to hold a large amount of cryptocurrency, I suggest investing in one of these bad boys for a peace of mind.