This documentary aims to explore the psychology of investing through the story of the dogecoin millionaire.
Many have described Crypto as the wild west. It’s mostly anonymous, highly monetized, and completely unregulated, which generally means it’s ripe with scams and crazy stories. It’s led to literal crypto billionaires, including what has been dubbed as “The greatest trade to ever exist” in which someone invested $13,000 into the infamous meme token “Shiba Inu,” which ended up netting him around $5 billion. It’s also resulted in some of the largest financial disasters ever as well. Luna is currently holding the record with $45 billion completely wiped out in less than a day. Once one of the largest tokens in the world, the token crashed from a high of $116 to less than 1/1000th of a penny.
There’s been plenty of other high-profile scams like Safemoon getting outted as siphoning hundreds of millions of dollars from the token, literal hundreds of crypto and NFT projects being opened for the sole purpose of scamming people, and a host of other issues. In fact, Crypto overtook phone scams as the #1 scam now, with over $1 billion scammed from people since the start of 2021.
Needless to say, it’s absolutely insane. As such, it’s natural to want to see these stories told on “the big screen” and Legion M is looking to do just that with their new documentary “This Is Not Financial Advice.” A new series that “Explores the psychology of investing through the story of the dogecoin millionaire and a generation of new investors powered by the internet and social media.” One of these crazy stories, while not quite as crazy as “the greatest trade ever,” is that of the ‘Dogecoin Millionaire’ which, as the name implies, invested heavily into dogecoin, and it paid off, making him a millionaire... at least for a while.
The preview also mentions the “fall” of the dogecoin millionaire because, well, if you’ve looked at the price of doge recently… it’s not great. It went from a high of 73 cents to sitting around 7 cents currently and dropping. These types of price movements are just how the game works, though… and exactly what the documentary is going to be exploring.
Unfortunately, the release date is not currently known but “expected late 2022 or in 2023.” For more details on the project, you can check it all out here.