Is Dogecoin overpriced?

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I do not know if there is a basis for determining whether a coin is overpriced.  It is true that those who say that until there is hype on that coin, its price will not stop rising.  It is also not really impossible what the value of coins will be when it comes to cryptocurrency, no one knows when the ascent or descent will start.  The others are just keeping up with the market trend.  They are ignoring whether there is any interesting development or update because they think more about what they will earn from what they buy.

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[Francis Freeman]

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.

There are several types of projects some with value and others which are just meme coin . Doge is the latter variety and they have no inherent value  if you ask me .it's all based on speculation and price movement trading.

[ice18]

I really cant say if a coin is overpriced or not, what Im seeing on the market is theres a huge demand in this shitcoin and everybody wants to ride with it for a profit, right? We all know its a meme coin and created only for fun and thats all no any unique usecase just a simple send, received just like bitcoin.

Investors who are buying this coin has no interest on its usage and its technology they are mostly for speculations and profit thats all, the good thing about Doge is its a 0 premine coin meaning it was distributed equally to all who wants to mine Doge no dumped on the side of developers.You can mine 24/7 but the bad side its unlimited supply.

[amishmanish]

DOGE has a circulating supply of 128 Billion and the total supply has no cap. Every block generates 10,000 of them per minute. They are mostly merge-mined along with LTC.

At current prices, the total marketcap is 8 Billion USD. The 8 billion USD, if split into the 150 million US tax payers would come to just around 50 Dollars per person. The US govt and other countries around the world printed and gave away trillions of dollars worth to "institutions" and "corporates".

If those trillions of dollars can come out of thin air, then i guess 50 USD per taxpayer worth of marketcap for a fun coin which actually makes people smile isn't really enough. Just for the memes, it should have higher value. Unfortunately, most of that value is generated by people trading on marketplaces and not real economic activity. If it was, I would say that DOGE is still underpriced as long as people don't hoard it.

[jesselui]

I'm expecting a hard fall. Obviously, there has been an excessive rise. But this still remains unclear. Doge can also exceed $ 1. Elon Musk will succeed if he cares about this job. In fact, we can say that dogecoin is a big risk.

[masterrex]

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 agree with you mate, Indeed Dogecoin was overpriced whether we like it or not, it will return to its previous price soon, Dogecoin is a meme coin and it will be known like that, I believe that the current price increased of Dogecoin is just artificially induce thats why just be careful and invest only that you can afford to lose thats should be the top priority of everyone riding in the recent Dogecoin pump.

[nykka]

I think almost all cryptocurrencies are overpriced for now, because many projects, which don`t even have any product or working solution cost millions dollars and it`s really incredible. Doge coin is definitely very overestimated. It`s a common pump, I don`t want to say it regarding crypto, but for now some coins like Doge look like really financial pyramids.

Hope it won`t disturb development of the projects with really prospective technologies

[Japinat]

In my personal opinion it's overpriced, due to the simple reason that it's hype by Elon Musk, there's no fundamentals why DOGE pump that high, so eventually once the bull run is over, it will dropped hard like we witness during the last bull run for some coins which pump multiple times.

If DOGE has slowly and steadily grew, then I might be convince it's price is just fair, but with what has happened, it makes me think it's overpriced.

[chaser15]

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

The price is brought by a hype so it's overprice. Market-related speaking, only if its a product of a natural growth of the market, that's the time I can say that the price is underprice. As you said, it's abandoned already then eventually it wakes up out of the blue.

Overprice or not, since there's a chance to get profit here, it's not wrong to take a ride. Just be careful as there's no resistance nor support established at these coins since the pump begin.

[acener]

Yes I believe that it is overpriced right now I think the original price of Dogecoin was before it gain attention.
The only reason why the price increased isn't because of the development it is only because of the wallstreetbets pumping it making some profit from it.
The project has been abandoned and stop developing for so long so for me it is really overpriced right now.

[aditya6997]

Dogecoin is for Short term gains

[Wingsbtc]

Doge coin use case isn't that great like many other top altcoins but it's this big because of strong supports, as a meme coin I wouldn't expect much from the project, also be expecting price correction cos no altcoins will keep surging, be ready, take your profits when you had enough

[bits4books]

But after all, the same can be said about BTC - the only difference is that if you say the same thing about BTC, you will be beaten with sticks and thrown with stones.
If you think that something is overrated, this is your right, I do not argue, but only here it is worth considering one point. If you are talking about the overvaluation of any cryptocurrency, then you are both 100% right and completely wrong, because the term "value" is not very well suited for cryptocurrencies, because it is more a criterion for things with independent value. The value of cryptocurrencies is not as a criterion, but only the exchange rate difference, which depends on supply and demand and pump and dumps. And even if you say, " Isn't that a value?" - then I will say no, because the value of cryptocurrency is already postmodern. And Doge just proves it.

[agustina2]

It's overpriced as it was seen as a joke and meme coin.

How come a coin like that has a good price today? It was just started because of Elon Musk so anything from that point was overpricing.

It will crash soon. It's not safe to be involved in a coin like that but since others can get profit from its volatility, they are there trading that coin.

[criket]

It's overpriced as it was seen as a joke and meme coin.

How come a coin like that has a good price today? It was just started because of Elon Musk so anything from that point was overpricing.

It will crash soon. It's not safe to be involved in a coin like that but since others can get profit from its volatility, they are there trading that coin.

many views of people who like you. the current price will collapse soon because the market for Dogecoin is not based on a strong community. much less seeing how doge has never reached such high prices. people will see the current price is still too high to doge. watch out for all those who handle doge, a drop can happen at any time, even when we are asleep.

[Febo]

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

In last 5 years Doge was a buy when was below 30 satoshi and was a sell when was over 100 satoshi. Now is at 148 sat. So act accordingly. You will definitely have plenty f chances in next 3 years to buy Doge below 30 sats.

[Bitum]

Personally, it doesn't matter whether Doge will cost 20 sat or 220, the main advantage of this fun coin is mega fast and mega cheap transactions, and it is very useful for transactions between exchanges, because there are doge on all exchanges

[avarnet]

Right now the Dogecoin price is Overbought to buy. The hype that was generated yesterday was fantastic enough to make Doge prices go up so fast and high. but I remind you. to trade like this is risky. you have to be really careful with it. don't get hit by high hype and make losses on the trades you are making. I myself have been stuck in a similar trade before.  it's just a fast pump and will dump

[Pamadar]

Personally, it doesn't matter whether Doge will cost 20 sat or 220, the main advantage of this fun coin is mega fast and mega cheap transactions, and it is very useful for transactions between exchanges, because there are doge on all exchanges

The advantage that most users are enjoying.

Doge being fast and low in fees enjoys the party, there are traders, investors and gamblers who are using this coin for theur benefits. They are taking this opportunities to use this alt as alternative, it doesn't matter if you are also one of those who are using this coin to deal with transactions, though it's also possible for investment but knowing the factors that give you the opportunities is very important.

[Valak]

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 there is someone who is interested in Dogecoin and wants to make the coin more valuable. Two coins of choice, Bitcoin and Dogecoin. Elon Mask continues to pump these coins, and he wants these coins to be used as a transaction tool at the Tesla company. So that the coin price increases. But I don't know in more detail what the next planning.