Take Profits or the Market Will Take Them for You: Crypto Analyst

Renowned crypto analyst and investor Lark Davis, in a recent post, reiterated the ever-evolving volatile nature of the crypto ecosystem, which may be profitable in one instance and loss in the next. The crypto analyst advised crypto investors to exit with their gains while the market conditions were still favorable.

According to the post on X (formerly Twitter), the crypto analyst shared a screenshot of a report detailing the sporadic rise and fall in value of Dogecoin assets held by self-dubbed DOGE millionaire Glauber Contessoto.

Contessoto entered public attention following revelations that his DOGE holdings, once worth $3 million, are now valued at around $50,000. Like most other investors, Contessoto bought into the meme coin after Elon Musk started pumping the digital currency.

Following the bull run, the Dogecoin holder saw his initial $250,000 investment rise to over $3 million. Despite persuasions from a lot of people, he chose to hold on. Now, the assets are worth around $50,000.

In a show of confidence and belief, the holder has repeatedly stated his long-term belief in Dogecoin’s potential to rise above previous all-time highs. But many in the crypto circle believe that will never happen again.

However, users reacting to Davis’ posts hinted at how difficult it is for crypto investors to exit the market, especially when the conditions are favorable. A user said, “Don’t take profits. Your 100x can easily do another 100x,” referring to the potential of crypto assets to double their gains instantly.

Dogecoin, the largest meme coin network, has recorded rollercoaster performances since the start of the bear market. Data from CoinMarketCap shows that the token added a 0.33% gain in the past 24 hours.

On the weekly price chart, the token has lost 3.02%. At the time of writing, DOGE is changing hands at $0.06089. In addition, the token has a total market cap of $8.56 billion, making it the eighth-largest cryptocurrency network in the world.

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