Is Dogecoin overpriced?

[mirakal]

I think the price of Dogecoin is very expensive, because considering that Dogecoin is just a meme coin created as an inflationary cryptocurrency, and I believe that if Dogecoin cannot maintain its existence because Dogecoin is very dependent on Elon Musk as the sole orator, I think we must be careful to invest in DOGE in the long term because the risk is very high compared to other altcoins.

It is, and the reason why it's expensive is that because it's hyped and lots of investors put their money when Elon Musk touches this coin, however, I'm sure it will not last, in the long run, DOGE will correct its price and will go down again. Also, let's look at its infinite supply which is not attractive, and probably most investors did not see it because they seemed to focus on what DOGE could achieve in the future, the promise of a high price.

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[usaha jaya]

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.

Doge is just a bait coin used by rich people, now doge is soaring because of the market game that is set by them so it is difficult to make a profit there because for now the price trend is less moving, many people have bought when the price trend is up instead now it is rising again, which in the end is quite frustrating for buyers.

[Rana590]

I think Dogecoin is now not overpriced. We could  say that if doge was only meme coin, but now Doge is using for real world purpose and big influencer like Elon is promoting it. In the future, we can also see that Tesla will accept Doge and then we can see bullish scenario for Dogecoin.

That's the point that Elon Musk is behind it and that's the main reason to increase the price of dogecoin. We have to remember that it's a mene coin. Literally it hadn't a good price before Elon's movement. If we think deeply about this meme coin, yes it's over priced.

[speedforce]

Yes, for me it's overprice for a coin that was no use at all. We all know that it's a meme coin and even Elon Musk can't answer what is dogecoin in an interview for me it's overprice compare to some real project that has a live project that can't even reach $0.01

It has no use but has a really huge community behind to backup the price, so it possible for Doge to maintain its position on the market at this time.
As long no issue to the community i think the price couldnt have any big drop anymore, we know its overprice if compared to another project with its fundamental, but community is also one of the fundamental of the project.

[gwdf1]

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.

It is obvious to me that dogecoin is overpriced and besides unreasonably. There is nothing innovative and its technologies and no good project behind it, so the only reason why it grew was advertisement from Elon Musk, but without it,this coin is likely to die out rather than to have success. I don’t invest in it as I don’t believe that it is likely to have a future.

[LUCKMCFLY]

Doge price has had a great recovery, it could be said that it has been able to have a recovery after that level of 0.2USD despite all the bearish attacks, currently the price is at 0.3016USD, for now the price has dropped a bit , the technical indicators dam the following:

The rising 20-day exponential moving average (EMA) at $0.28 and the RSI in the positive zone indicate that bulls have the upper hand. If the price sustains above $0.29 for a few more days, the buyers will again try to resume the uptrend by thrusting the DOGE/USDT pair above $0.35.

Source: https://cointelegraph.com/news/price-analysis-8-23-btc-eth-ada-bnb-xrp-doge-dot-sol-uni-bch

I think the market can continue to rise, it all depends on the movement of BTC, if everything goes well it is likely that it can reach 0.35USD again and with a view to 0.4USD.

[sarmrakib]

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.

It is obvious to me that dogecoin is overpriced and besides unreasonably. There is nothing innovative and its technologies and no good project behind it, so the only reason why it grew was advertisement from Elon Musk, but without it,this coin is likely to die out rather than to have success. I don’t invest in it as I don’t believe that it is likely to have a future.

Its all happen after Elon Said something positive for it .It was really a hype there is nothing actually happen with innovation or any new concept .We need to more careful on this type of movement of a coin like Doge .We need to research without knowing someones call or prediction .I can surely agree with you that it has over priced .We can see over dump anytime .

[Golftech]

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.

It is obvious to me that dogecoin is overpriced and besides unreasonably. There is nothing innovative and its technologies and no good project behind it, so the only reason why it grew was advertisement from Elon Musk, but without it,this coin is likely to die out rather than to have success. I don’t invest in it as I don’t believe that it is likely to have a future.

Its all happen after Elon Said something positive for it .It was really a hype there is nothing actually happen with innovation or any new concept .We need to more careful on this type of movement of a coin like Doge .We need to research without knowing someones call or prediction .I can surely agree with you that it has over priced .We can see over dump anytime .

It still hanging since Musk still playing and those who are in hope that the market will favor them again and the hypes

will continue. It's difficult for those people who got stuck and still unable to cash out becuase they are still in big losses.

It's really a must to do deeper research before jumping to any project unless you are willing to take the risk and move

forward if you lose your opportunities.

[lepbagong]

Yes, for me it's overprice for a coin that was no use at all. We all know that it's a meme coin and even Elon Musk can't answer what is dogecoin in an interview for me it's overprice compare to some real project that has a live project that can't even reach $0.01

many doubt the coin doge because it is a fast-paced and unexpected increase just because an @elonmusk is not because doge makes changes in order to achieve the coveted coin, so it is natural that you still doubt it will be with doge's abilities.

It has no use but has a really huge community behind to backup the price, so it possible for Doge to maintain its position on the market at this time.
As long no issue to the community i think the price couldnt have any big drop anymore, we know its overprice if compared to another project with its fundamental, but community is also one of the fundamental of the project.

what you said could indeed be true, if we look at the development of doge from the existing graph when after a sharp increase occurred, indeed doge always followed the movement of bitcoin and there was no very significant decline and moved fairly in accordance with the movement of bitcoin. so that what you say can be true, we will see until the end of this year whether doge can survive to the rhythm of bitcoin.

[Abiky]

It is obvious to me that dogecoin is overpriced and besides unreasonably. There is nothing innovative and its technologies and no good project behind it, so the only reason why it grew was advertisement from Elon Musk, but without it,this coin is likely to die out rather than to have success. I don’t invest in it as I don’t believe that it is likely to have a future.

Somehow, Dogecoin's price won't dip below $0.01. It has retained its price for some time, even without Elon Musk posting tweets about it. I think the bull market made this possible. We're going to have to wait until the next bear market to see how DOGE will behave. One way or another, Dogecoin will go down the drain because of the way it was designed. It was never meant to be taken seriously. I'd consider the cryptocurrency overpriced if it sits above $0.01 per coin. Newcomers will think otherwise because they don't know what Dogecoin is all about. They'll regret themselves later when DOGE fades into oblivion.

As I've said many times, there are far better cryptocurrencies on the market with attractive features. People are just buying DOGE because of the hype. After it's all over, they'll be forced to look elsewhere. How much will Dogecoin be worth in a few years, is a mystery. As long as you buy low and sell high, you'll have nothing to worry about. Just my opinion

[ZAINmalik75]

No I think doge is not overprice at the moment I will say that doge price is low according to expectation .
people taught that doge will surely hit 1$ in this current bullrun
but still its not hit his expectation price. So doge must rise thier price to hit 1$ .

[LUCKMCFLY]

The price of Doge is one of those that has suffered a slight drop, in fact in these moments it has dropped a little from 0.29USD, however it is around 0.27USD not bad, so far it has resisted the movements of the correction of BTC , it is likely that it could grow in price if BTC rises, technical indications show the following:

This balance will shift in favor of the bulls if they can push and sustain the price above the downtrend line. The pair may then rally to $0.35 and later to $0.45.

Source: https://cointelegraph.com/news/price-analysis-8-30-btc-eth-ada-bnb-xrp-doge-sol-dot-uni-luna

For now I do not think that the price of Doge is overvalued, the demand of people who want to buy Doge has increased, in the trading volumes that behavior can be observed, it is necessary to wait to see how the market in general continues to develop.

[Abiky]

For now I do not think that the price of Doge is overvalued, the demand of people who want to buy Doge has increased, in the trading volumes that behavior can be observed, it is necessary to wait to see how the market in general continues to develop.

We'll see. Either Dogecoin goes to "Mars" or all the way down the drain in an instant. Crypto land is usually about hype, so anything can be expected. For what I know, Dogecoin is still a popular cryptocurrency in the mainstream world. The community is growing at a very fast pace. I think Elon Musk has brought public exposure to DOGE. Whenever the coin is overpriced or not, that's up to the investor to decide. What's important is the Blockchain remains decentralized and censorship-resistant. As long as DOGE stays true to its roots, there should be nothing to worry about.

Compared to Bitcoin and Ethereum, I'd say Dogecoin is much faster and cheaper to use for day-to-day payments. Of course, there are other altcoins which are much cheaper and faster than DOGE. But their blockchain networks are not as strong and reliable as Dogecoin's. Ultimately, it all comes down to mainstream adoption. I'd say Dogecoin is one of the most widely-adopted cryptocurrencies, thanks to its versatility and inexpensiveness. Only time will tell us whenever Dogecoin will survive or fade into oblivion. Just my thoughts

[LUCKMCFLY]

For now, the price of DOGE is making some movements that wait for the bears, perhaps the strategy lies in buying in the dip, the technical signs indicate that the price of DOGE can wait for it again at the levels of 0.2USD:

The 20-day EMA has turned down and the RSI has dropped into the negative territory, suggesting that bears have the upper hand. A break and close below $0.21 could pull the price to the critical support at $0.15

Source: https://cointelegraph.com/news/price-analysis-9-13-btc-eth-ada-bnb-xrp-sol-dot-doge-luna-uni

It should be noted that the most bearish are waiting for the price at 0.15USD, in fact many say that if the BTC continues to fall in price it will be able to reach these levels, everything is a matter of waiting.

[wheelz1200]

The price of Doge is one of those that has suffered a slight drop, in fact in these moments it has dropped a little from 0.29USD, however it is around 0.27USD not bad, so far it has resisted the movements of the correction of BTC , it is likely that it could grow in price if BTC rises, technical indications show the following:

This balance will shift in favor of the bulls if they can push and sustain the price above the downtrend line. The pair may then rally to $0.35 and later to $0.45.

Source: https://cointelegraph.com/news/price-analysis-8-30-btc-eth-ada-bnb-xrp-doge-sol-dot-uni-luna

For now I do not think that the price of Doge is overvalued, the demand of people who want to buy Doge has increased, in the trading volumes that behavior can be observed, it is necessary to wait to see how the market in general continues to develop.

I think the price is WAYYYY overvalued.  How much in percentage points did doge go up this year.  Now ask yourself was this a fad or did something change within doge.  Well nothing changed so....fad?  Doge offers nothing and lags completely behind the technicological advances other coins regularly implement.  Didn't doge just try to get segwit implemented lol.  What is this 2016?

[GreenStox]

I don't know the current price of Doge is expensive or not. but what I know, Doge began to be abandoned by many people after the price soared high and then fell. just because Elon Musk's tweets on twitter made a lot of people buy Doge just for a moment. whereas Doge is just a meme coin for many people who have known crypto for a long time. but most of the time people only profit a short time.

[Sweetbtc]

As far as making great profits from buying support and selling resistance? Niether coin is worth just long term holding in my opinion. I mean just look at the crypto market. Doge gave people a nice bag when it first pumped, but those days are not coming back for Doge. SHIB has another shot at a moon month and then it's over for SHIB too. Meme coins are meant to get you started in crypto, not to hold on to forever imo

[TheGreatPython]

As far as making great profits from buying support and selling resistance? Niether coin is worth just long term holding in my opinion. I mean just look at the crypto market. Doge gave people a nice bag when it first pumped, but those days are not coming back for Doge. SHIB has another shot at a moon month and then it's over for SHIB too. Meme coins are meant to get you started in crypto, not to hold on to forever imo

It's all about money we are working hard and doing our best for making money but money is enjoying with Musk just because of this he's playing this all and his crazy movements creating hype in Dogecoin price which is not good for newbies and many poor mind traders.

Currently, Dogecoins large community is also good advantage for this even this can give some better price, but Musk factor is going to be really strange but still transaction speed and fees is going very good.

[Abiky]

I think the price is WAYYYY overvalued.  How much in percentage points did doge go up this year.  Now ask yourself was this a fad or did something change within doge.  Well nothing changed so....fad?  Doge offers nothing and lags completely behind the technicological advances other coins regularly implement.  Didn't doge just try to get segwit implemented lol.  What is this 2016?

Dogecoin is pretty outdated compared to other cryptocurrencies on the market. It's only a speculative cryptocurrency with no future. Hype is what usually drives Dogecoin's price to the moon. There's no active development for Dogecoin, and the number of coins in circulation is pretty high. This tells us DOGE is worthless. Anything above $0.01 USD is considered overpriced because of the reasons mentioned before. Only a noob will think otherwise. It won't be long enough before Dogecoin goes down the drain, making many investors "rekt" in the process. Just my opinion

[carlfebz2]

I think the price is WAYYYY overvalued.  How much in percentage points did doge go up this year.  Now ask yourself was this a fad or did something change within doge.  Well nothing changed so....fad?  Doge offers nothing and lags completely behind the technicological advances other coins regularly implement.  Didn't doge just try to get segwit implemented lol.  What is this 2016?

Dogecoin is pretty outdated compared to other cryptocurrencies on the market. It's only a speculative cryptocurrency with no future. Hype is what usually drives Dogecoin's price to the moon. There's no active development for Dogecoin, and the number of coins in circulation is pretty high. This tells us DOGE is worthless. Anything above $0.01 USD is considered overpriced because of the reasons mentioned before. Only a noob will think otherwise. It won't be long enough before Dogecoin goes down the drain, making many investors "rekt" in the process. Just my opinion

Going to drain is something a questionable thing and there are lots of presumptions that DOGE is dead but it did really make out some significant movement and we can really deny that it is because of the hype which dives out the price to reach up that high but its just over to say that this coin doesnt really have any use at all.

This is much more better compared into those shitty tokens that do exist as of today even though this is just some meme coin but we cant deny that it did really withstand the test of time.

It is still really have that value which isnt really that possible for other altcoins to be able to achieve but somewhat its total supply sucks but still considerable.