Is Dogecoin overpriced?

[MonaLeeTracy]

It is natural for dogecoin to be abandoned by investors because of its large supply, thus making the price difficult to increase. Dogecoin which was originally created as a joke has received support from Elon Musk. Traders who buy Dogecoin to start investing in 2021 have got a good opportunity, because they can get almost 10 times more profit when Dogecoin is able to reach the highest price. Now traders should be wary if they want to buy Dogecoin, especially as an investment tool. because the constant flow of new coins coming to the market can put pressure on the value of Dogecoin.

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[LUCKMCFLY]

This September 20 and 21 was critical for the highs in general, Doge's case fell below 0.21USD, now seeing the market it has a slight recovery of 0.22USD which is not bad at all:

If that happens, the DOGE/USDT pair could rise to the 20-day EMA ($0.24). The bears are likely to defend this level aggressively.

Source: https://cointelegraph.com/news/price-analysis-9-22-btc-eth-ada-bnb-xrp-sol-dot-doge-avax-uni

Expectations grow a lot, for now it is expected that if BTC continues to rise this could help the price of Doge, as it would be generating more confidence in the market in general, but it is necessary to be cautious with any type of investment and not get carried away by emotions to buy or sell.

[ChaoChibai]

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.

I think dogecoin overpriced at that time especially all the people went crazy with the tweeted of Elon Musk. People are just buying dogecoin because of the hype. After it's all over, they will be forced to look elsewhere. And if we take a look at the chart now, I think the price is come back to its normal and right now the price is $0.2209.

[cafucafucafu]

How can you even price something like Doge?

I don't think that there are any valuation metrics that is able to capture its intrinsic value.

Is it overpriced by its historical standards? Definitely, and I would probably sell anything that I've got right now. But can people go crazy in the future and prop prices up even further? Absolutely yes.

[bussybuddy]

How can you even price something like Doge?

I don't think that there are any valuation metrics that is able to capture its intrinsic value.

Is it overpriced by its historical standards? Definitely, and I would probably sell anything that I've got right now. But can people go crazy in the future and prop prices up even further? Absolutely yes.

What I've learned from this market over the years is that once you've made a decision, go for it with absolute confidence.
Maybe the actual price we are seeing is simply numbers and I always think it is in my own mind, if we can see the gains and losses from it we will all understand realize that your own decisions are the way to create intangible values. So the concept of valuation is only relative for both the individual and the collective because it is not fixed, so for me, it is simply satisfied with what I have done and am I doing with it.

[LUCKMCFLY]

The price of Doge has been very fluctuating, this September 22 it rose and everyone believed that it was finally going to surprise at least 0.4usd, but already on September 23 it returned to its mark of 0.21USD, the technical indices show the following:

The downsloping 20-day EMA ($0.23) and the RSI near 36 suggest that sellers have the upper hand. If bears sink the price below the $0.19 support, the DOGE/USDT pair could extend its decline to the critical support at $0.15.

Source: https://cointelegraph.com/news/price-analysis-9-24-btc-eth-ada-bnb-xrp-sol-dot-doge-avax-luna

Many expect the price of Doge to fall even more, but at any moment anything can happen, in my opinion the BTC can give a bullish movement, which can trigger a rise in the price of Doge.

[naikturun]

DOGE's current price of $0.2 is a far cry from what it was 7 months ago when Elon Musk tweeted about Doge on his social media and got a lot of people interested in buying. I think the current price of Doge is too cheap. why cheap? because people are starting to distrust Doge and Elon's tweets are not attracting many people anymore. people started leaving Doge and investing in coins that had better projects.

[Japinat]

DOGE's current price of $0.2 is a far cry from what it was 7 months ago when Elon Musk tweeted about Doge on his social media and got a lot of people interested in buying. I think the current price of Doge is too cheap. why cheap? because people are starting to distrust Doge and Elon's tweets are not attracting many people anymore. people started leaving Doge and investing in coins that had better projects.

Then it's not cheap anymore, it's probably overvalued already because if what you think would happen, it will result in a dump of price and those who are buying DOGE at the current price might be one of the bag holders of a coin that would never pump again.

[indah rezqi]

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, what happened to Dogecoin in February is difficult to repeat. Back then it was too expensive in my opinion but not for those who look at Dogecoin from a different perspective. Today we can see where Dogecoin is and its price is $0.2

[Russlenat]

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, what happened to Dogecoin in February is difficult to repeat. Back then it was too expensive in my opinion but not for those who look at Dogecoin from a different perspective. Today we can see where Dogecoin is and its price is $0.2

Doge was just in the corner, no one touching it as they know Doge is just a meme coin that is not good for investment if we are looking for a big return, but it was a surprise that Elon shills this coin, and he literally brings it to the moon, and FOMO created so investors money now are stuck with DOGE.

[indah rezqi]

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, what happened to Dogecoin in February is difficult to repeat. Back then it was too expensive in my opinion but not for those who look at Dogecoin from a different perspective. Today we can see where Dogecoin is and its price is $0.2

Doge was just in the corner, no one touching it as they know Doge is just a meme coin that is not good for investment if we are looking for a big return, but it was a surprise that Elon shills this coin, and he literally brings it to the moon, and FOMO created so investors money now are stuck with DOGE.

You are right. To be precise, we can say that Dogecoin is just a meme coin. If we currently expect big profits on Dogecoin, it won't happen again. Dogecoin is only famous for the figure of Elon and does not rule out Elon will also feel tired of all these scenarios.

[LUCKMCFLY]

At the moment DOGE has bled a lot, the price level for which almost everyone knows DOGE is for 0.21USD, at the moment it is for 0.1967USD, technical indices according to cointelegraph suggest or show the following:

The RSI is attempting to form a positive divergence, suggesting that the selling pressure could be reducing. If bulls thrust the price above $0.21, the DOGE/USDT pair could rise to the 20-day EMA ($0.22) which could again act as a stiff resistance.

Source: https://cointelegraph.com/news/price-analysis-9-29-btc-eth-ada-bnb-xrp-sol-dot-doge-avax-uni

At this time, many of DOGE's investors are with many doubts, some are selling taking advantage of the bullish rallies, anyway the market if it recovers it is likely that it can recover the 0.21USD.

[robattfield]

At the moment DOGE has bled a lot, the price level for which almost everyone knows DOGE is for 0.21USD, at the moment it is for 0.1967USD, technical indices according to cointelegraph suggest or show the following:

The RSI is attempting to form a positive divergence, suggesting that the selling pressure could be reducing. If bulls thrust the price above $0.21, the DOGE/USDT pair could rise to the 20-day EMA ($0.22) which could again act as a stiff resistance.

Source: https://cointelegraph.com/news/price-analysis-9-29-btc-eth-ada-bnb-xrp-sol-dot-doge-avax-uni

At this time, many of DOGE's investors are with many doubts, some are selling taking advantage of the bullish rallies, anyway the market if it recovers it is likely that it can recover the 0.21USD.

After the FUD chain from China doge coin is also not affected too much by the news, although this is not a favorite coin of mine, but honestly it has a great potential to make a profit in the future next time. After crazy growth, we are now seeing a pretty good price to buy.

[Abiky]

How can you even price something like Doge?

I don't think that there are any valuation metrics that is able to capture its intrinsic value.

Is it overpriced by its historical standards? Definitely, and I would probably sell anything that I've got right now. But can people go crazy in the future and prop prices up even further? Absolutely yes.

Exactly. Dogecoin has no intrinsic value. The fact that it's a "meme" cryptocurrency with a huge number of coins in circulation says it all. Not only that but DOGE is abandoned in development. What makes you think Dogecoin's current price will be sustainable in the long run? Only those who are newcomers into crypto or simply those who're looking to get rich quick will think otherwise.

As I've said many times already, there are far better cryptocurrencies on the market with greater features, active development, and a low inflation rate. Dogecoin is only driven by hype with no real use cases for the mainstream world. I'd say it's quite overpriced based on the facts described earlier. I'll go down the drain at a very fast pace, leaving many investors "rekt" in the long term. Just my thoughts

[kodtycoon]

You are right. To be precise, we can say that Dogecoin is just a meme coin. If we currently expect big profits on Dogecoin, it won't happen again. Dogecoin is only famous for the figure of Elon and does not rule out Elon will also feel tired of all these scenarios.

Dogecoin has been famous for a long time before Elon Musk knew it, because in the past many people used Dogecoin for certain things even though the price was very cheap, because whether or not a coin is famous is not only seen from the side of the price spike, but also must be seen from in terms of age and durability in the market.

[LUCKMCFLY]

At the moment DOGE has bled a lot, the price level for which almost everyone knows DOGE is for 0.21USD, at the moment it is for 0.1967USD, technical indices according to cointelegraph suggest or show the following:

The RSI is attempting to form a positive divergence, suggesting that the selling pressure could be reducing. If bulls thrust the price above $0.21, the DOGE/USDT pair could rise to the 20-day EMA ($0.22) which could again act as a stiff resistance.

Source: https://cointelegraph.com/news/price-analysis-9-29-btc-eth-ada-bnb-xrp-sol-dot-doge-avax-uni

At this time, many of DOGE's investors are with many doubts, some are selling taking advantage of the bullish rallies, anyway the market if it recovers it is likely that it can recover the 0.21USD.

After the FUD chain from China doge coin is also not affected too much by the news, although this is not a favorite coin of mine, but honestly it has a great potential to make a profit in the future next time. After crazy growth, we are now seeing a pretty good price to buy.

Yes, you're right, at the moment it turns out to be a good investment, what happens is that it also became very famous after Elon Musk made that Pro-Doge call and managed to take new all-time highs, recently the price had fallen to less than the 0.21USD, after a bullish movement of BTC the price of Doge is around the 0.22USD and possibly it has many options to go up more, all expect that BTC continues to rise in price to see how much the price of Doge can rise, for now For a long time, Doge has not been influenced by Elon Musk despite the fact that it is undoubtedly one of the billionaire's favorite coins.

[LUCKMCFLY]

Updated.

Doge has been with a very good price, for now it has a +6.15 with a price of 0.2515usd, which may indicate that if the btc continues to rise it can take a good value, according to the anlaists of cointelegrapg show the following:

if bulls drive and sustain the price above the 100-day SMA, the pair could rally to the downtrend line, which could again act as a stiff resistance. A break and close above this level will be the first indication that the correction may be ending.

Source: https://cointelegraph.com/news/price-analysis-10-4-btc-eth-bnb-ada-sol-xrp-dot-doge-luna-uni

The price of Doge at any time can give a good pump, in my opinion I think that this year it can easily reach 0.7USD, based on the fact that BTC makes an excellent movement.

[lepbagong]

Updated.

Doge has been with a very good price, for now it has a +6.15 with a price of 0.2515usd, which may indicate that if the btc continues to rise it can take a good value, according to the anlaists of cointelegrapg show the following:

if bulls drive and sustain the price above the 100-day SMA, the pair could rally to the downtrend line, which could again act as a stiff resistance. A break and close above this level will be the first indication that the correction may be ending.

Source: https://cointelegraph.com/news/price-analysis-10-4-btc-eth-bnb-ada-sol-xrp-dot-doge-luna-uni

The price of Doge at any time can give a good pump, in my opinion I think that this year it can easily reach 0.7USD, based on the fact that BTC makes an excellent movement.

if for the price you expected that doge would reach $0.7 of course it had already been made when it reached ATH $0.731578 - May 08, 202, unfortunately doge was unable to sustain. because it's true, that the influence of bitcoin which is still unstable has a huge impact on doge. it seems that not only doge but all altcoins are also affected by the impact of bitcoin.

but if you look at the graph of coinecko between doge and bitcoin, it seems that doge's movement is greatly affected by bitcoin;

is it not impossible that if by the end of this year bitcoin will reach renewable ATH, then doge will also be able to move up? Of course, if you look at the graph clearly, it is certain that it will happen to doge to also increase and maybe more than yesterday's ATH.

now the decline in doge from the past ATH is quite worrying too, because it is already at -66.9% and has already exceeded half of the last ATH. indeed this could be a very bad fact to be able to quickly get up. once again if we look at the graph now doge should also be able to increase. but the reality has not been seen, is it because it is starting to decrease trust in doge?

we will see in the next few weeks if bitcoin continues to increase, will doge be able to follow or not. if it can't move to improve, of course the doge's no longer able to maximize. doge has begun to be abandoned by its holders and has released so there is no ability to increase.

need patience to wait for the news because with graphical analysis Doge should be able to do that to move, could it be that many already assume that doge is just a meme coin and will not be affected anymore?

[Abiky]

Doge is overpriced as f but as long as it's still trending among the normies, it's going to be overpriced and overvalued like that. Sometimes, things going like that, one many trash is another man's treasure. You've to be rational and don't let it bug you off, missing a chance to making easy money. Who cares if it was trash or doesn't worth it if some other really sought after it?

It's extremely overpriced. I've said this many times already. But most people don't want to believe the facts, since they're blinded by greed. After all, they want to make as much money as possible within a short amount of time. They'll be "rekt" in the long run, as crypto doesn't really work that way.

Honestly, I don't see any real value to Dogecoin other than being an overhyped and speculative cryptocurrency. There are far better altcoins on the market with innovative features, active development, and real use cases for the mainstream world. The only reason why Dogecoin is still alive up to this date is because the coin is one of the oldest ones on the market with strong community backing. If it wasn't for that, Dogecoin would've been history by now. I'm certain prices will go down the drain at a very fast pace after the hype comes to an end. Just my opinion

[BaeSuzy]

Honestly, I don't see any real value to Dogecoin other than being an overhyped and speculative cryptocurrency. There are far better altcoins on the market with innovative features, active development, and real use cases for the mainstream world. The only reason why Dogecoin is still alive up to this date is because the coin is one of the oldest ones on the market with strong community backing. If it wasn't for that, Dogecoin would've been history by now. I'm certain prices will go down the drain at a very fast pace after the hype comes to an end. Just my opinion

It means that doge's price will probably fall a lot in the future, because it's a bubble (which means that no one actually wants doge as a currency, everyone just speculates for profit)

Someday people will see that they don't actually need doge and the sell off will begin.

And one more think for me DOGE is a fad and like all fads people will lose interest. Once the next fad comes the price will just fade to dust.