A senior Goldman Sachs executive resigned after 14 years with the investment bank after making millions from Dogecoin

According to The Telegraph, one of Goldman Sachs’ veteran employees left the company after making millions of dollars from Dogecoin. Specifically, Aziz McMahon, New Markets Sales Manager, resigned after 14 years with the investment bank.


DOGE/USD 4-hour chart | Source: TradingView

Goldman Sachs said employees almost don’t need the company anymore after making millions of dollars from Dogecoin

It is reported that McMahon opened a hedge fund with his profits. But the exact figure of how much he earns has not been made public at this time. Since the beginning of the year, the price of DOGE has increased by approximately 10,000%, making many people quickly become dollar millionaires.

While some continue to underestimate the idea of ​​investing in DOGE, its popularity has spawned a new investment trend that focuses on coin memes. Dogecoin price posted an all-time high, around $0.74, over the weekend. But the euphoria was short-lived as DOGE dropped, by as much as 30%, following Elon Musk’s appearance on SNL later that day. Weeks before he appeared on the show, speculation was built up as to whether he would mention Dogecoin, and he did, but in a not so positive manner. The result was that instead of sending DOGE to the moon, the market went to a bottom at $0.41.

Even so, there is no denying the benefits of DOGE so far. A fact that cannot be ignored for McMahon, who has collected millions of dollars thanks to Dogecoin.

Galaxy Digital CEO Mike Novogratz said Dogecoin has arisen into a movement:

“When you think about the whole spirit of what this crypto revolution is, there’s something pure in what dogecoin has done… It’s a little bit of a middle finger to the system. People are unhappy with the current financial system. They just are.”

The popularity of Dogecoin increased so much that several imitators hit the market, including Dogelon Mars, Dogefi and DogeMoon, etc. But the most successful by far is Shiba Inu, which was launched in August of this year last month, but only started gaining traction last month. After creating an all-time high of $0.00003791 on Monday, a sell-off ensued, raising questions about the sustainability of the Doge-mania era as a whole.

Binance listed the SHIB token on Monday. In it, CEO Changpeng Zhao said he believes people should be free to trade if they want. SHIB is a high-risk token and its listing does not represent his personal views.

Looking to catch up on the Dogecoin trend, developer Yearn Finance “banteg” recently tweeted about the upcoming Woofy token. This resulted in the YFI price skyrocketing to $89,700 following a rumored airdrop for Woofy.

Out of all the imposters, Woofy is the most reputable due to Yearn Finance’s proven reputation in the crypto space. However, given a large number of fake Dogecoins, one has to question whether things have gone too far?

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