On May 8, 2021, Elon Musk is invited to Saturday Night Live.
Dogecoin is at its peak. $0.73. An increase of over 13,000% since January.
Everyone is sure it will go up again.
I too fall into the trap.
I buy at $0.69. Just before the show.
I tell myself: "It's Elon. He's going to make the price explode."
But as soon as he steps on stage, Dogecoin collapses.
The market sells the news.
In less than 24 hours, DOGE drops from $0.73 to $0.45.
A drop of 38%. I lose my poor little dollars.
Not because the project is bad...
But because I traded on hype.
Since then, I’ve understood.
Hype is an illusion of timing.
And real gains are made away from the noise, not at the peak of trends.