The Dogecoin Joke Is Turning Serious in Latest Crypto Binge

Re:The Dogecoin Joke Is Turning Serious in Latest Crypto Binge by xCheapshotx on Wednesday May 05, 2021 @07:52PM (#27057422)

No, Dogecoin has a lot of people thinking one day it will be worth 50k like bitcoin and they're getting in "early". This is flawed thinking due to not understanding outstanding circulation, market cap, and daily new supply. I went to a conference with about 20 co-workers and I literally spent 30 mins breaking down these fundamentals to them. Lets just say they were all disappointed.

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Re:The Dogecoin Joke Is Turning Serious in Latest Crypto Binge by rvz on Thursday May 06, 2021 @01:50AM (#27059601)

Exactly. Little do the late comers know that they are jumping at the tail-end of the train very late only because it is now easier to buy DOGE. All thanks to Robinhood listing it and Elon Musk hyping and pumping it on Twitter.

In one of the other posts, why are the very very early people now 'cashing out' their 11k+ DOGE. Perhaps they know that as soon as it reaches above $1 it won't reach those prices for years again, until the next run.

The fundamentals tell a different story against the current hype of DOGE. The pump is here and the dump will be catastrophic for the late comers.

> daily new supply

Yup, the DOGE printer keeps on printing new DOGE. They will be disappointed to know that they missed the pump and fell for the dump.

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Re:The Dogecoin Joke Is Turning Serious in Latest Crypto Binge by tromp on Thursday May 06, 2021 @05:41AM (#27060968)

A tail emission is a healthy thing. It allows the network to remain secure in the absence of a backlog of high-fee paying transactions, which is what Bitcoin relies on for security once the block subsidy becomes insignificant.

The single reason why Dogecoin can't reach $50k is that it would imply a $6500 trillion marketcap.

Already at $7.7 it would reach a $1 trillion marketcap, so there's just not much room for price to grow.

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Re:The Dogecoin Joke Is Turning Serious in Latest Crypto Binge by tartoran on Wednesday May 05, 2021 @10:13PM (#27058384)

I really doubt anyone thinks dogecoin will ever be 50k though I’ve seen some wishful thinking that it will reach a few k. However, $1 is almost certain in the near future.

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Re:The Dogecoin Joke Is Turning Serious in Latest Crypto Binge by NotACop182 on Wednesday May 05, 2021 @11:21PM (#27058823)

A few K would mean doggie would be worth more than the world economy.

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Re:The Dogecoin Joke Is Turning Serious in Latest Crypto Binge by tartoran on Thursday May 06, 2021 @10:00PM (#27071103)

Yes, that figure is ridiculous.

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Re:The Dogecoin Joke Is Turning Serious in Latest Crypto Binge by etempleton on Thursday May 06, 2021 @08:25AM (#27062161)

I don’t think anyone thinks this. The discussion all seems to be around reaching $1 USD or now, $10 USD.

The latter would make it bigger than Bitcoin is now, but hey, who knows what will happen. It could go to $10 in a few years or 10 cents. I don’t think anyone can really say.

All I know is it is part of the zeitgeist now in a way only Bitcoin is currently. That is powerful.

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