On January 28th 2021, we saw the start of the rise of the “meme currency” Dogecoin. The cryptocurrency went from $0.007 to over $0.74 on May 7th. That’s a gain of over +26,000%. So what happened? On May 8th, Elon Musk hosted Saturday Night Live.
In the past couple of months, Musk has realized, if he tweets about a cryptocurrency, he can change was direction it’s goes. After tweeting about Bitcoin, the cryptocurrency’s value almost double earlier this year. But just like Dogecoin, Bitcoin bit-the-bullet after Musk’s appearance on SNL. After calling Dogecoin a “hustle’ on the episode, then many cryptocurrencies values started to drop.
So why are the Anons(not to be confused with QAnon) upset?
Leading up to the US 2016 election, Anonymous could be construed as a “Collective”. Unfortunately, like the rest of the US, the election brought division, even to the Anons. Some of left-leaning Anons started joining groups like Antifa and BLM, becoming radicalized. Others joined NGOs, became government informants, and/or took political positions within the GOP. One thing both right and left-winged Anons have in common is their love for cryptocurrency. By watching the Anon Musk video, it’s pretty easy to figure out what kind of Anon made it.
Many of the former Anons we know, sold some of their cryptocurrency when Bitcoin hit $50,000+. Then they reinvested in less volatile things such as Oil($GUSH), Gold ($JNUG) and FANG stocks. Others didn’t make the same move. When investing, we have always advised to diversify. Most often than not, when something goes up, something else will go down. Who ever made the video most likely isn’t a seasoned investment trader, thus the veiled threats.