My Dogecoin to safeMoon Investing Mistake-From $1,832 to $151K to a $20K Loss

Silivere Bakomeza
Jun 2
3 min read

Updated: Jun 4

In 2021, I made $151,000 from Dogecoin.

**I turned $1,832 into $151,000 with Dogecoin. But that with nearly cost me everything.**

And then—I lost $20,000 chasing the next one.

That’s the truth. After turning $1,832 into six figures, I thought I had the blueprint. I was confident. Hungry. And ready to find the next coin that would take me to the moon.

So I threw $20,000 into SafeMoon.

And I got burned.

This dogecoin to safemoon investing mistake changed how I trade forever.

The High of Dogecoin

My Dogecoin run was wild.

I watched a small investment grow from under $2K to over $150K in just a few months.

At one point, my account showed nearly $200,000. I ended up cashing out at $151K—the day after Elon Musk called Dogecoin a “hustle” on Saturday Night Live and the market started to crash.

It was the kind of trade you don’t forget.

The kind that makes you feel like maybe you figured it out.

But I hadn’t.

The SafeMoon Hype

Right after that win, I was riding the momentum—and I didn’t want it to end.

Everywhere I turned, I kept seeing SafeMoon:

Trending on Twitter
Pumped on TikTok
People saying “this is the next Doge”

The message was loud: Buy now or miss out.

So I did. I sent $20,000 into SafeMoon, chasing another rocket.

And for a moment, it looked like I might’ve timed it right.

But that moment didn’t last.

The Reality Hit Fast

Not long after I bought in, SafeMoon’s price started slipping. Then crashing.

No bounce. No comeback.

Soon after:

The hype slowed
The volume dropped
The price kept falling

It wasn’t just the market—there were real problems under the hood.

What Went Wrong

Security Exploit

In March 2023, SafeMoon’s smart contract was exploited, and hackers drained nearly $9 million from the liquidity pool.

That was the beginning of the end.

Leadership Collapse

In November 2023, the SEC charged SafeMoon’s top executives with fraud and money laundering, accusing them of stealing millions from the project.

Trust in the project vanished overnight.

Investor Confidence Evaporated

With trust gone, volume disappeared, and prices never recovered.

SafeMoon went from being “the next Doge” to a cautionary tale.

And my $20,000? Gone.

What I Learned (The Hard Way)

Never Confuse Luck with Skill

Dogecoin was luck, timing, and momentum.

I thought I had the formula. I didn’t.

The worst thing a big win can do is make you feel like you can’t lose.

Hype Isn’t a Strategy

If the only reason you’re buying something is because everyone else is—you’re not investing, you’re gambling.

I didn’t understand SafeMoon. I didn’t even believe in it.

I just didn’t want to miss out.

That’s not how real investors move.

You Need a System

After losing that money, I stopped chasing coins.

I started building a disciplined, documented, long-term system.

And now I follow it every day.

What I Do Now Instead

After losing $20K on SafeMoon, I went the opposite direction:

I Picked One Stock: MicroStrategy ($MSTR)

I invest $50 a day into MSTR, every day the market is open
I’m doing it publicly for 20 years
I post every update on BakoInvest.com. Join the email list to follow the journey in the real time-and never miss a milestone. [Sign up here.]