Is Dogecoin overpriced?

[Abiky]

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.

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[iv4n]

We are both legendary members, and we are here for centuries. I can't say expected this from Doge! I have some amounts here and there, but if I knew this will happen, I would save a lot more! I say it like that because I gambled away a lot of Doges, simply they were cheaper, a lot cheaper...
I am not sure is it overpriced, if I have to choose yes or no, I would choose no! Simply we underestimated the power of Doge and Doge community! From people to people, that was on their site back in the days (maybe still is, I am not sure, I didn't visit doge site for some time). I think more people will join Doge movement! After all it's one of the rare decentralized projects, fully decentralized! And that means something, looks like it means a lot more as time is passing!

[menoiazei]

A lot have to do with the hype that community and influencers created about it
but even though meme coin DOGE is not bad coin after all,
I hold some from 2015 and originally was using it to move from one platform to another because of the low fees
now with all the hype I am happy I got it and plan to keep holding it
would be good if we see some development from developers and fresh website

[blockman]

People wouldn't care if it's abandoned or not or it's overpriced. What people are caring for is that if it's profitable and if Elon's keep on publicizing it.
That's the most important factor that most of the investors that are getting on it care about. If it's been tweeted by Elon, that's all that matters and that's going to be profitable for them.

[Danslip]

The price will tank one day and the all investors who believe Doge has the future will sacrifice their investments on this burst trend. There is no reason to believe in Hyped altcoin and wasting the time&money. Dogecoin may touch $0.2 one day but it has a higher chance to hit $0.001 again, IMHO.

People wouldn't care if it's abandoned or not or it's overpriced. What people are caring for is that if it's profitable and if Elon's keep on publicizing it.
That's the most important factor that most of the investors that are getting on it care about. If it's been tweeted by Elon, that's all that matters and that's going to be profitable for them.

Very wise analysis, they only care if they can make money. No one has an interest in Dogecoin because they all want to take profit no matter who and for what reason pumps this shitcoin. The red trading will be real if the Elon tweets stop one day. Let's hope for safe trading and avoid the HYPE.

[enhu]

I think not. Its not just cat that are cute, dogs too.  Seriously, the coin had been around for years and I think its giving us an opportunity right now for people to try mining Doge.  People regret not having to go all in when BTC is cheap or they could have mine the coin, we'll here is an opportunity now. We who didn't have the chance to mine BTC back when GPUs can mine it, now has the chance to get Doge. Doge being abandoned I think made it decentralized instead. Price is going to rise, this is activated already.

[pixie85]

Dogecoin was created as a joke and a meme coin and it is the most speculative cryptocurrencies on the market and this is what draws people to it.

Recently Elon said that it was made as a joke but it would be an even bigger joke if this coin went into the mainstream. It has an opportunity to gain on this big bull market and it surely will.

I think that it is overpriced but what can you do? Memes are often overused, people know it and still continue to post them even when the world has enough of grumpy cat, doge, nyan cat and the rest of the gang.

[Fivestar4everMVP]

Well to me, i think its overpriced, like those who know well about the project from the on start have said, doge was create for fun, i was not created to ever be taken seriously, but all thanks to the Tesla boss, Elon musk for making atleast those who had a lot of dogecoin richer over night, ive bought dogecoin a lot of times but not as investment, i sometimes use it as a means to cut down on fees when withdrawing either bitcoin or eth from exchanges, ive never bought it and kept for even more than a day, cus ive always seen it as a joke coin that will never go up significantly, but with the help of Elon musk, i was proven wrong and o wont be surprised if from now, something serious begins to happen to dogecoin in terms of development.

[kevinzxz]

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.

[abel1337]

if the doge became expensive, it would be a very positive thing. but keep in mind that this increase has the impact of elon musk saying that doge to the moon, and most likely he also bought and made the price of doge pump up.

I think it's not that positive thing. You said it yourself that Elon Musk made the dogecoin pump. Imagine if Elon dumps his bags in the market, The followers of Elon who's were mainly driven into the cryptocurrency market and are just holding DOGE believing that the price isn't overpriced will be at loss. The supply of dogecoin is very big for its price and there is no hard cap in mining it that's why I think it is overpriced today.

[Karartma1]

The Dogecoin bubble will pop and our shiba inu will be forgotten again. Even now, I see a role for Dogecoin: it is a perfect complementary currency something in between Bitcoin and Litecoin. I use Doge when I need a quick exchange between the two, let's say I consider Doge as a very very chep on-chain LN.

[wxa7115]

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 is obviously overpriced but what happens is that some people have decided to pump the coin and I'll have to say that they have been very successful in that, but it seems that the people that did it are inexperienced in this aspect, they don't seem to understand that a crash is imminent so they are still holding their coins hoping for even bigger profits.

But people like us that have been in the market for so long knows what's coming next, the price is going to remain at that level for some time then as people with a lot of coins begin to cash out the price will begin to go down, then people are going to begin to panic and they will begin to sell as well and that is when will see a massive crash in the price of dogecoin.

[Viscore]

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 take a look at its price history, we can't see any difference until such time that Elon does the shilling and abruptly change the situation. I can't say it was overpriced, yet this is just a few pumps and it never lasts long. We must be careful about this surge, I see this as a trap.

Anyways, let leave Doge turns like this, and let see what will happen next. If this will continue to move high above $1, that was overpriced for me.

[hari9981]

that is, project founders no longer support their projects. Therefore, it is possible to call it expensive. However, people are in demand with dogecoins. In this respect, it is wrong to say that they are expensive due to the supply and demand issue. In short, supply and demand determine prices. However, it is useful to be careful when investing in Dogecoin.

If everyone say its a short demand only, but the demands keep supporting the price this long.
The supporter of the coin so strong and many influencers keeps promoting the coins. Even if many people already said its overpriced, seems like nobody cares and they keep buying 

[CuriousGeorge]

Doge is a crypto that has unlimited supply and this coin is over priced at this moment. People can only use doge as a pump and dump scheme and send microtransaction, the users can't get more benefits other than it and inflation rate is very high. that makes doge overpriced.
people are hyping it and they are loosing their mind to buy the doge coin due to the FOMO in the market.
Doge can be dumped anytime too. It's too risky to bet on dogecoin at this moment. I have been leaving the doge market.

[Jackl87]

I don't own any Dogecoins myself but i always liked that project because it just seems to be sympathetic and fun to me and it kinda represents the freedom and independence of the early crypto days.
That being said, i would never invest in Dogecoin right now, the fact alone that it's supply is uncapped discourages me to invest into dogecoin.

[Reid]

It's sad but it's true.
Just like how iv4n said above.

The real problem starts now. A lot of cryptocurrencies out there could get more value if supported properly.
But, the thing is it's not about that anymore. The hype is the problem.
One popular idol tweets about one altcoin then it goes soaring in price.
Not because of usage and features but just because they feel like it.
Is that right? No. As veterans though, we can use it to make profits by selling it when we see an opportunity. Don't get too attached to the coin.

[Psynthax]

Dogecoin at this current price point whether people considers it overpriced or not still a risky investment than any of the major crypto with highest market cap.

The drive of the price purely because of the price even people don't even have any idea of what they are buying when trying to "invest" to doge at this point, IMO it's overpriced but this kind of opinion is really relative to the person on their own, because as I've seen some people in reddit think it could go well beyond $1 and said it's still under priced.

[TastyChillySauce00]

Pumped with the hype and down with the inflation. Doge is taking the momentum but it's not again right now. The latest chart is showing that the dogecoin could be decreasing even deeper anytime.
It has no power to pump the price of doge again after the hype has gone.
The price is quite stable at 6.9 cents but it seems like if that can't sustain even longer.
Miners keep dumping their doge to the market and people will be starting to leave the doge market. It will be going back again to the bottom. Doge is overpriced as memecoin.

[LogitechMouse]

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

Right now, I'm believing with what they are saying that:
"When we are in a bull market, even a shitcoin or any coin will go up regardless of what coin it is".

This is what is happening with DOGE right now. I don't consider it as a shitcoin since it has uses still but considering that it is just a joke coin and with its current price right now, I consider it as overpriced. Knowing also that it has infinite number of supply, DOGE is overpriced obviously. Well, we are in a bull market right now and every coin will obviously go up whatever the fundamentals is. Include also the fact that Musk shilled DOGE and tweeted some good things to it.