True, if anything it was probably the second most lively crypto community effort I've seen to date. Bitcoin was a community for everyone, and the biggest. Litec

True, if anything it was probably the second most lively crypto community effort I've seen to date. Bitcoin was a community for everyone, and the biggest. Litecoin was just about price. Ether and Ripple were just about price and a few devs talking about tech. Doge was about community, it was really unique in that way and a lot of fun. Relatively few really cared about its price in any serious way and everyone just wanted this thing to blow up for the fun of it. Anyway... more importantly, there's absolutely no way anyone is able to cash out anywhere close to $2b in dogecoin haha. I think what people don't fully get is that these small coins had 0.1% the market cap of bitcoin over the past few months, and it had just <$100k volume per day worldwide for most of last year. (about half of a single walmart's daily sales). That means it's pretty easy to manipulate. You just set-up a simultaneous buy and sell order with two accounts on an exchange, buying doge for bitcoin at 10x the price. Of course, you're selling to yourself, so you don't lose anything in this process. But you are momentarily creating a price momentum that others may pick up on. Throw some posts in trading forums for all the new people who don't understand anything and just talk about price movements to get-rich-quick, and you've got people jumping on the bandwagon. It's a typical pump & dump and it's the only reason we suddenly talk about ICOs and other coins, because when bitcoin moves up quickly like it has, it's an easy time to exploit all the other coins that have tiny volume / price, but lots of potential eyeballs if you make the price move.