Is Dogecoin overpriced?

[X-ray]

It is good when people really see potential in a coin and in a project and invest money, hoping to profit from growth and development. And the current situation with Doge is pure manipulation. I see no reason for Dogecoin to grow right now. People rushed to buy it only because of Mr. Musk's tweets.

This time people are also rushing to sell their doge coin due to the bad tweet that already created by musk. The doge coin community is getting manipulated by his tweet. So many people become crazy about doge due to the his tweet. Im seeing there are lots of people complaints about this manipulation that happened with doge coin lol.
The only reason doge coin to grow back again due to the shilling tweet that will be created by musk soon. 

[ningrum]

It is good when people really see potential in a coin and in a project and invest money, hoping to profit from growth and development. And the current situation with Doge is pure manipulation. I see no reason for Dogecoin to grow right now. People rushed to buy it only because of Mr. Musk's tweets.

This time people are also rushing to sell their doge coin due to the bad tweet that already created by musk. The doge coin community is getting manipulated by his tweet. So many people become crazy about doge due to the his tweet. Im seeing there are lots of people complaints about this manipulation that happened with doge coin lol.
The only reason doge coin to grow back again due to the shilling tweet that will be created by musk soon. 

That is if we just buy coins because I personally predict something like that will happen,
for some reason many people are affected by Elon Musk's tweet post,
what is certain is that with things like this we must learn so that in the future we do not make decisions in a hurry,
let's see what happens to Dogecoin in the future

[menoiazei]

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.

On the other hand is also a coin that has stood the test of time and also has usability due to the low transaction fees, personally I don't think its price will
drop that much, and it will eventually rise again!

[dimonstration]

On the other hand is also a coin that has stood the test of time and also has usability due to the low transaction fees, personally I don't think its price will
drop that much, and it will eventually rise again!

It's still good to use even there are tweets going on, as Elon really do hype for this coin it will still have more chances to increase in the future. The price may seems overpriced but that's how the market works. If we will be able to buy before or now that the price is dropping it may benefit us again once Elon creates a positive tweet again. We just need to be updated in twitter now lol.

[KuromaYoichi]

I think so, while it has a niche use case because of the low fee but there's only a few scenarios where you want to use doge instead of other crypto and the coin itself has been pumped in recent weeks so right now it is definitely overvalued . It has value but because it is a meme/joke coin that's been pumped and i don't think there is news about the development of the coin itself and I think the price will go down in the following months.

[maxig.boroday]

IMO, DOGE isnt actually overprice but its been overvalued or over hyped. Given its currently risk and hurdles, it seems to me that dogecoin is overvalued relative to its rewards

[repear7]

I can't say it overprice. But, Doge price is too high,

It’s out of my imagation.

I believe doge market uped for elon musk tweet.

[Bitcoinislife09]

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 it is overpriced for a coin with no usage or anything. If a coin like that could easily more valuable what about the other token that actually has its own usage compared to DOGEcoin. I just don't know about that but maybe it is just all hype and could be because of the supply and demand as well a lot of people become interested in the token even though it doesn't have any usage because of the hype of Elon musk and now that it skyrocket its value people could make a profit in it exiting and making a low entry.

[deathcode]

I can't say it overprice. But, Doge price is too high,

It’s out of my imagation.

I believe doge market uped for elon musk tweet.

everyone believed it was Elon who kept making tweets related to Dogecoin. although everyone was also happy with what happened the price seemed too high. which determines the price is the market through trade. and the market agreement makes the price continue to increase until the current price. although many people do not believe it that's what is happening now.

[Stedsm]

Mate, please don't pretend like you don't know what really happened. If Elon Musk wouldn't have tweeted about it, Doge would never ever cross even 30 sats and that's the truth. His influential tweets are actually tests that he's probably conducting over many crypto enthusiasts who unthinkably follow this guy even without considering the possible outcomes of such trades in near future and the pump and dump proved it that Doge is literally worthless meme coin and nothing more than that. Yeah, it had been there for years because many gambling sites allow it as an alternative to let their users save big on fees.

[geegaw]

Mate, please don't pretend like you don't know what really happened. If Elon Musk wouldn't have tweeted about it, Doge would never ever cross even 30 sats and that's the truth. His influential tweets are actually tests that he's probably conducting over many crypto enthusiasts who unthinkably follow this guy even without considering the possible outcomes of such trades in near future and the pump and dump proved it that Doge is literally worthless meme coin and nothing more than that. Yeah, it had been there for years because many gambling sites allow it as an alternative to let their users save big on fees.

I think if Dogecoin didn't have Elon Musk's article, another and similar news will emerge, even without any other sign, Dogecoin can still rise like it is now, you are not the first to say that Dogecoin has no value and is only used to reduce transaction costs, a lot of people have talked about this, even believing that Dogecoin never has a place in the future. But the problem here is a tradition every year, random or coincidence, Dogecoin gets its pump and price increases, do not care too high or too low, the important thing is the profit

[Ureung jameun]

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 cryptocurrency there is no altcoin too expensive or too cheap because everything goes according to market needs. if the current price of Dogecoin has increased twice as much, then Dogecoin is currently being needed by many people so that the price of Dogecoin will increase. So in my opinion everything that is happening on the exchange market is currently working normally.

[Stedsm]

I think if Dogecoin didn't have Elon Musk's article, another and similar news will emerge, even without any other sign, Dogecoin can still rise like it is now, you are not the first to say that Dogecoin has no value and is only used to reduce transaction costs, a lot of people have talked about this, even believing that Dogecoin never has a place in the future. But the problem here is a tradition every year, random or coincidence, Dogecoin gets its pump and price increases, do not care too high or too low, the important thing is the profit

Believe it or not, if it's all about profits, any shitcoin can rise during this season but that doesn't mean it's useful in any way. Dogecoin had been a name out of the talks for a very long time but got recognized only because of one tweet by Musk and I don't really know his intentions behind manipulating the markets this way but it's not something to be considered good for cryptocurrencies IMHO.

[Text]

Yesterday I read a post on social media that DOGE will hit the price of 0.1 that night, of course, I do not believe it because I know he just bought it because he still hopes he will earn if the price continues to rise.  So I commented that his meme coin has been abandoned, there are no updates and development I added.  Then someone replied to me that there was a surprise upgrade, and one of the OG creators tweeted just about the new updates, I don't know if this is true.

https://www.forbes.com/sites/billybambrough/2021/02/14/doge-is-underestimated-elon-musks-fav-bitcoin-rival-dogecoin-is-getting-a-surprise-upgrade/amp/

[MWesterweele]

Mate, please don't pretend like you don't know what really happened. If Elon Musk wouldn't have tweeted about it, Doge would never ever cross even 30 sats and that's the truth. His influential tweets are actually tests that he's probably conducting over many crypto enthusiasts who unthinkably follow this guy even without considering the possible outcomes of such trades in near future and the pump and dump proved it that Doge is literally worthless meme coin and nothing more than that. Yeah, it had been there for years because many gambling sites allow it as an alternative to let their users save big on fees.

Exactly, and from here we can visualize how influencial Elon Musk was. Doge was a good crypto coin but its not that kind of crypto that rise effectively its market value and not that kind of crypto comparable to bitcoin and ethereum. But what has been happening currently to the Doge market was all about and credit to Elon Musk. Its somewhat a meme coin that yeah through the tweet of Mr. Musk people think its a great coin to invest with.

[Abiky]

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!

Dogecoin was below $0.01 USD for as long as I can remember. The sudden increase towards 8 cents per coin tells us that adoption for the cryptocurrency has grown towards an exponential rate. Still, I think it's overpriced as DOGE's supply is much greater than most coins out there on the market. On top of that, the project has been completely abandoned by its developers. While some may say that the community is what makes a cryptocurrency strong, development activity is needed in order to stay ahead of the game. Compared to other cryptocurrencies on the market, Dogecoin is obsolete. How long the hype will last, is an excellent question.

Believe me, Dogecoin was perfect went it had a price below 1 cent. Transaction fees were ridiculously low. Now with prices hovering around $0.06 - $0.08, costs per transaction has increased. After all, the network fee is 1 Dogecoin. Imagine if Dogecoin went all the way to $1 - $2 per coin. It wouldn't be much different than Ethereum or Bitcoin fee-wise. At least, the Dogecoin project has remained alive after all these years. It's one of those good-old coins that will stand the test of time. Thanks to the recent pump, my wealth has increased to a large margin. DOGE's price could go higher in the short term as the hype persists. For the long term, Dogecoin could go all the way down the drain due as people lose interest in it.

Nonetheless, time will tell us if Dogecoin's prices will remain as is. Everything will depend on mainstream adoption and market demand. As long as there's demand for DOGE, prices will continue to soar. Regardless of what its price will be in the future, 1 DOGE will always be equal to 1 DOGE no matter what.

[doomloop]

in cryptocurrency there is no altcoin too expensive or too cheap because everything goes according to market needs. if the current price of Dogecoin has increased twice as much, then Dogecoin is currently being needed by many people so that the price of Dogecoin will increase. So in my opinion everything that is happening on the exchange market is currently working normally.

That is the ideal scenario but because we know there are big players in the market who have the ability to manipulate the market so actually I feel right now the doge coin market is being manipulated by some rich guys among whom one is Elon Musk who is clearly promoting the doge coins for no reason and although its a good news for people who held doge coins and now reaping rewards for their faith, but eventually these kind of pumps cannot last too long.

I would be really worried right now touching the doge coin market because neither I would sell if I hold some since Musk might pump it even more while I would not at all get into investing either because I have never been a fan of pumps and dumps.

[Text]

Of course, those who used to hold this coin are just happy with it and they are grateful to EM because they made a lot of money if they were able to sell the others.  The opposite is true for those who do not keep up because they do not hold or remain do not believe in this coin because of the stopped updates and development.  It will also not be lost that some regret him because there are still those who hope it will increase to a dollar and if that does not happen.


I just read it now.

[Sled]

Knowing for a fact that dogecoin creation is just for the purpose of having a meme coin and it really doesn't have any utility usage I can say that it is overprice and the main reason why it just having a pumping scheme is because of elon musk social media posts that created plenty of FOMOs.

That's why Elon love to pump it because this coin has not real purpose, just a meme coin as you said. We people just easily get hype, we follow what popular personality are saying although they themselves can't provide any proof that they are holding it.

About its price, as of now it's overpriced because it's hype and most coins in bull market are overpriced.

[shoreno]

i think that dogecoin isnt an abandoned coin but dogecoin is actually among the top and popular cryptos up until today . i post on another thread earlier and the op of that thread also said that dogecoin was overpriced but based on what im seeing with dogecoin ,

 its value is still under 1 dollar so i dont consider this as an over priced coin but coins that valued 50k dollars are the ones that are overpriced but surprisingly there are still buyers and they arent complaining .