James Panos Is Holding Dogecoin With Diamond Hands Emerging As An Online Leader In The Push For $1. Can It Happen?
By now most of you have heard of the Reddit group, Wallstreetbets, and what they’ve done to Gamestop and AMC stocks. Thursday the Reddit organization took aim at a cryptocurrency which originally started as an internet parody based on a viral dog meme, with attempts to make it the next Gamestop. Dogecoin skyrocketed 373% in just 24 hours and was up 613% at its peak. Today it’s fallen to $0.034 as Redditors and amateur day traders dumped the coin for different assets.
One person who didn’t dump after the huge gains seen on Thursday is James Panos. Panos held onto the cryptocurrency with diamond hands through the rise and fall. He foresees the coin hitting $1.00 this year and though it is unclear what exactly his equity in the coin at the moment, one can only assume it’s high based on his average cost per coin at a remarkable $0.00019. Many actually believe he is one of the biggest shareholders in Dogecoin to date.
Panos has touted on social media about this moment calling it the Silly Bandz Effect. Silly Bandz were rubber bands made of silicone rubber formed into shapes such as animals, objects, numbers, and letters. They were first introduced to the market in Japan and in 2010 when the silly rubber bands hit the U.S. market they became one of the most sold items of the year.
Panos’s argument when finding Dogecoin was that if Silly Bandz could take off the way it did, so can something as silly as Dogecoin. He believes the average U.S. consumer is a lot simpler minded now being surrounded by memes and persuaded by social media 24/7. Today, his theory is spot on proving this purchase all those years back might not have been a stroke of luck after all.
Today, Panos launched a Discord group promoting the cause to send Dogecoin to the moon this year. It’s very limited to who can get in but if you follow him on social media your chances of an invite are a lot more likely once you’re in his network.
To the Redditors this is all good fun, to James this is a moment in time he has anticipated patiently for years waiting perfectly for a moment like this to arise to take advantage and dump his share in the crypto.