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.
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.