The Mansion is Gone and Back! Investor Buddy Recall Turns Dogecoin Short Into Long Overnight

BlockBeats News, May 15th. In an interview with BlockBeats, the "Big Brother Whale" Huang Licai recounted his experience of shorting Dogecoin (DOGE) in 2021. He held his short position and kept adding to it along the way. Finally, after the "news dropped," the price plummeted, turning his loss into a win. He made enough profit to buy back his mansion and ended up at the top of the profit leaderboard on Binance. During the interview, Huang Licai said, "When Dogecoin reached $0.25, I thought, hey, this is a good price to short, better than before. So I shorted. Then Dogecoin kept rising, breaking $0.5. One mansion lost, two mansions lost... but I felt good. That time, I almost lost all my principal. It was my worst trade, but it later became my best trade."

During more than two weeks of continuous growth, Huang Licai kept adding to his short position and waited for the right moment. Finally, on May 8th, 2021, Elon Musk appeared as a guest host on the American comedy show "Saturday Night Live." Musk had been hyping Dogecoin on Twitter, and the market expected him to mention or hype it during the national broadcast, leading to a surge of funds pouring in before the show, driving up the price.

Recalling his experience watching Musk's live stream, Huang Licai said, "I was sweating nervously. Watching Musk up there telling some nonsense jokes. Every time they cracked a joke, Dogecoin's price shot up again, and then it started to turn back down. Bros, this is 'Sell the News'—he was just babbling up there. By the end of the show, Dogecoin's price dropped. You see, one mansion came back, two mansions came back. Boom!" Huang Licai promptly began to close his position to take profits, ultimately ranking among the top traders on Binance in terms of profit.