Is Dogecoin overpriced?

[hamba laeh]

I'm surprised to see an abandoned coin like Dogecoin surging in price like crazy. People are overestimating Dogecoin without realizing that it was never meant to be taken seriously. The huge supply of DOGE in circulation, along with abandoned development and innovation, tells me that it should be less valuable than what it is right now (please correct me if I'm wrong).

What are your thoughts? Do you think Dogecoin is overpriced? If not, why? Your input will be greatly appreciated. Thanks.

if we look at the supply of Dogecoin then the current price of Dogecoin is very expensive. but in crypto nothing is impossible, everything can happen without us expecting. Maybe no one thinks that the price of Dogecoin will reach $ 0.6. but now that has happened to doge, and this is a very high price for Dogecoin.

[1714103422]

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[dotherightthing]

For a coin that doesn't have a capped max supply? Dogecoin is overpriced in my opinion, but people no longer care about the max supply of dogecoin or the circulating supply, their only concern now is how to buy dogecoin now and wait for Elon  to make a dogecoin meme tweet so that the prices will starts pumping , then they sell at a higher price than what they bought and make profit from it, that's what matters most to everyone now, just make profit from holding dogecoin.

its a self-organized ponzi scheme, all the bag holders will lose big. at this point, this seems like some type of false flag to allow world governments to ban self organization. we saw the cries to ban it after the GME/AMC pumps. now with dogecoin, when it goes sideways and the bag holders lose, i expect to see even more manufactured consent articles around banning self organization.

[Clement Kaliyar]

its a self-organized ponzi scheme, all the bag holders will lose big. at this point, this seems like some type of false flag to allow world governments to ban self organization. we saw the cries to ban it after the GME/AMC pumps. now with dogecoin, when it goes sideways and the bag holders lose, i expect to see even more manufactured consent articles around banning self organization.

You really think that Dogecoin is a self organized ponzi , my suggestion is that you need to learn about a ponzi and then rethink about the claim, so what would you call the rest of the alt coins which is much shittier than that and some of the alts are created for the sole purpose of pump and dump without any use in any gambling market nor as an utility. The market is pumping because people are willing to take the risk and pump the coin irrespective of the technical point of the number of coins in existence and as long as there are people willing to invest heavily the market will rally.

[VIP BTC]

I'm surprised to see an abandoned coin like Dogecoin surging in price like crazy. People are overestimating Dogecoin without realizing that it was never meant to be taken seriously. The huge supply of DOGE in circulation, along with abandoned development and innovation, tells me that it should be less valuable than what it is right now (please correct me if I'm wrong).

What are your thoughts? Do you think Dogecoin is overpriced? If not, why? Your input will be greatly appreciated. Thanks.

Dogecoin was launched in December 2013, and the current price is 0.6 USD, if we look at Doge's long struggle, then the Price of $ 0.6 is not high, compared to other coins which are still new which have reached $ 100 or more.

[dotherightthing]

its a self-organized ponzi scheme, all the bag holders will lose big. at this point, this seems like some type of false flag to allow world governments to ban self organization. we saw the cries to ban it after the GME/AMC pumps. now with dogecoin, when it goes sideways and the bag holders lose, i expect to see even more manufactured consent articles around banning self organization.

You really think that Dogecoin is a self organized ponzi , my suggestion is that you need to learn about a ponzi and then rethink about the claim, so what would you call the rest of the alt coins which is much shittier than that and some of the alts are created for the sole purpose of pump and dump without any use in any gambling market nor as an utility. The market is pumping because people are willing to take the risk and pump the coin irrespective of the technical point of the number of coins in existence and as long as there are people willing to invest heavily the market will rally.

you missed a key part of my post: "self-organized ponzi scheme" this is not a traditional ponzi-scheme, where there is intent to defraud from the creator. this is a self-organized ponzi, which if you don't understand what self-organization is, you should google it. self organization is not criminal, nor is there anything criminal about a self organized ponzi scheme. but the fact remains, the bag holders will lose here when the hype dissappears and the money pulls out. this is exactly what happened with GME, and that was the entire point of my post. if it happens with doge, which is the likely conclusion, then we will see renewed calls to ban self organization, which will be a massive loss to average joe traders and a win for the big guys.

The market is pumping because people are willing to take the risk and pump the coin irrespective of the technical point of the number of coins in existence and as long as there are people willing to invest heavily the market will rally.

Yes, this is exactly what self organization is, and my point was that regulators want to ban this because the big guys lose when the little guys self organize

[oHnK]

its a self-organized ponzi scheme, all the bag holders will lose big. at this point, this seems like some type of false flag to allow world governments to ban self organization. we saw the cries to ban it after the GME/AMC pumps. now with dogecoin, when it goes sideways and the bag holders lose, i expect to see even more manufactured consent articles around banning self organization.

You really think that Dogecoin is a self organized ponzi , my suggestion is that you need to learn about a ponzi and then rethink about the claim, so what would you call the rest of the alt coins which is much shittier than that and some of the alts are created for the sole purpose of pump and dump without any use in any gambling market nor as an utility. The market is pumping because people are willing to take the risk and pump the coin irrespective of the technical point of the number of coins in existence and as long as there are people willing to invest heavily the market will rally.

I see that right now the market is a little chaotic with Doge's price continuing to build on its hypo.  Even if you look at the original purpose of its creation, DOGE is only a meme coin to mock BTC and ETH at its time.  Doge can probably be said to be the only recognized version of shitcoin.  It is the same as circulating in the market for the sole purpose of pumping the price and selling it when it is high.  No more gain you have is someone else's loss.

[capcaypro]

theoretically when viewed from the results achieved now it is expensive, because we know that before the pump, all I can say is crazy doge is only a small nominal coin which is often used as a joke. but after the pump from the investors especially the main pioneer namely elon doge became very valuable in some circles of small traders, even though it was very risky but they were able to make history with several new times during the pump.
doge now I think a lot of people are taking it and it's thanks to one person.
doge is now starting to be hailed by small traders for its achievements and this I think can be called expensive doge but in theory.

[ecnalubma]

Its overpriced absolutely! I wonder how badly people buying this coin while theres a lot of low marketcap coins thats more deserving to its spot. Once the hype will collapse a lot poor souls will cry, Doge is the real bubble and should be pop before the hype gets worse.

[fahmimajannat]

It seems to be a organised vertion of the shit coin.
So it not so overpriced but if it cross 1$ then you can say its little bit overpriced for now.
It may can go to 1$+ in next couple of years depending on its fundamental but not for now.

[Almasani]

I'm surprised to see an abandoned coin like Dogecoin surging in price like crazy. People are overestimating Dogecoin without realizing that it was never meant to be taken seriously. The huge supply of DOGE in circulation, along with abandoned development and innovation, tells me that it should be less valuable than what it is right now (please correct me if I'm wrong).

What are your thoughts? Do you think Dogecoin is overpriced? If not, why? Your input will be greatly appreciated. Thanks.

We will be even more surprised when Doge will take over all the best positions of the best coins today. One of them is BNB which has successfully won the position of three market capitalizations. There is a high probability that Doge's price will reach $ 1. With a high total supply, all positions will shift.

[Lizzylove1]

I lost most of my dogecoin to ponzi scheme, just realizing today that I should have kept them all. I can't any longer what is pushing dogecoin this can't just be common traders if they were, the price would have long collapsed. Seems to me there could be some underground works going on to mass adopt dogecoin in the future, still watching Elon Musk.

[secretgirl]

I'm surprised to see an abandoned coin like Dogecoin surging in price like crazy. People are overestimating Dogecoin without realizing that it was never meant to be taken seriously. The huge supply of DOGE in circulation, along with abandoned development and innovation, tells me that it should be less valuable than what it is right now (please correct me if I'm wrong).

What are your thoughts? Do you think Dogecoin is overpriced? If not, why? Your input will be greatly appreciated. Thanks.

in my opinion the price of Dogecoin is not overpriced, because in cryptocurrency there is no fixed price and it can always increase very high, so it is also natural for Dogecoin (the price has increased very high), then in my opinion even though Dogecoin is made for joke, but actually Dogecoin is also can be used as an alternative to make transaction, because the fees for making transaction using Dogecoin are very low and the process is also very fast, therefore in my opinion Dogecoin has a very good function too.

I understand what you mean doge is not that expensive, but are you still saying the coins are not that expensive when the price goes up like that. for me it is quite expensive when viewed from the initial price and goes straight upwards, and it is a very profitable coin for the people who hold it. but I really agree if you say doge has a good function to use for transactions. and in my opinion it is a potential coin to be stored and used for trading.

[pelumi20]

I would not say doge coin is overpriced, and i strongly believe it has the potential to still increase higher and surpass 1 dollar. A lot of people underestimated doge coin (including myself) because it is just a meme coin and has no real use case, but it shocked us all. I will never overlook a coin again.

[mamiko]

dogecoin is a very interesting cryptocurrency. It is interesting because it reaches this value. Because it was a coin that was known to everyone but not taken seriously when it was first released. Some of us may have regretted that it has reached this much value now. but I don't want to invest money in dogecoin because I don't have confidence. too expensive for me. this much value is too much for dogecoin.

[Abiky]

For a coin that doesn't have a capped max supply? Dogecoin is overpriced in my opinion, but people no longer care about the max supply of dogecoin or the circulating supply, their only concern now is how to buy dogecoin now and wait for Elon  to make a dogecoin meme tweet so that the prices will starts pumping , then they sell at a higher price than what they bought and make profit from it, that's what matters most to everyone now, just make profit from holding dogecoin.

No hard cap is supply means an ever-growing inflation rate meant to devalue the cryptocurrency over the long term. But most people don't care about this, as long as there's money to be made in the short term. Elon Musk knows that as long as people are made to believe something is good, they're fall for it like there's no tomorrow. It's why he keeps shilling DOGE for his own financial benefit across social media platforms. Prices continue to rise because Musk tweets about Dogecoin. Once he gets bored, it'll go all the way down the drain faster than you've previously imagined.

At current prices, Dogecoin is extremely overpriced. Transaction fees are now higher in terms of Fiat (USD) since 1 DOGE is now valued at nearly $0.62 per coin. Imagine paying 62 cents for each transaction, when it was less than a cent before the craze. The higher DOGE goes, the higher the cost per transaction will be. Based on DOGE's inflation rate and circulating supply, we could say that current prices are NOT sustainable in the long term. Time will tell us how far DOGE will go, as people move on to the next big thing in crypto. Just my opinion

[devollito]

It is over priced now, the peak always around 90 sats. No point to buy doge, no other feature then Litecoin or Bitcoin. The doge holder also another scary thing to consider it as investment. Its just hyped because of richman tweet, i wont buy doge even it will goes to $1.
Remember, 5 billion doge will be created every year and there is no limited supply.

[Abiky]

It is over priced now, the peak always around 90 sats. No point to buy doge, no other feature then Litecoin or Bitcoin. The doge holder also another scary thing to consider it as investment. Its just hyped because of richman tweet, i wont buy doge even it will goes to $1.
Remember, 5 billion doge will be created every year and there is no limited supply.

If the pump continues, DOGE could easily reach $1 per coin. But the effects won't last for long because of the inflation existent within the core Blockchain protocol. Dogecoin is extremely overpriced considering that there are far better coins out there on the market.

I believe that Litecoin is a better alternative with a max supply of 84 million coins. It has a chance to "boom" in price if it gains the attention of mainstream investors and traders alike. Yet, people are focused into Dogecoin because they believe it's a "get rich quick" scheme. As long as Elon Musk continues to patronize Dogecoin, the cryptocurrency will only go higher in price. How long will the hype last is an excellent question. Once it all comes to an end, expect Dogecoin to go below $0.01 faster than you could've ever imagined.

[mulia sabee]

if we compare it with the previous price, it can be said that now Dogecoin has found a very high price. and this is really a very fantastic price obtained by Dogecoin

[revilo]

if we compare it with the previous price, it can be said that now Dogecoin has found a very high price. and this is really a very fantastic price obtained by Dogecoin

That is not the point ad totally a wrong approach to assess whether the pricing makes sense. If you argue that way you could say Ethereum is expensive because it came from $500 or Bitcoin is expensive because it came from $10,000.

Dogecoin is expensive because you can't find satisfying reasons for its price other than celebrity driven hyper speculation combined with the luck of being mentioned as perhaps a means of payment for Tesla and financing operations for SpaceX. But are these temporary characteristics or permanent? If they are permanent, it could give Dogecoin value. If they are not, it is pump and dump only.

[MadeMen]

We all know that dogecoin is on a constant pump because of the impact of Elon musk, one of the most influencers billionaire of the cryptocurrency industry. The reason why dogecoin was termed a meme coin is because it was created as a joke, there's really nothing substantial or of value that is performed by the project.