Is Dogecoin overpriced?

[kak uli]

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.

The price of Dogecoin is very high this year, since I got to know the digital currency only this year has seen Dogecoin's price exceed its usual price. This is a surprise given by Elon Musk to Dogecoin which is often forgotten by traders.

[vintages]

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.

Absolutely overpriced.
Many have forgotten that coin exit but thanks and no thanks to Elon Musk, its suddenly resurfaced. And to think there is no other coin he could have invested in except Dogecoin. Well, his choice. He should just quit misleading people, no need for the tweets.

[alfredlachance]

 it's about to stop making people money. That's the point. Doge is currently super mega overpriced. Just look at the charts man. It got hyped up a couple weeks ago, a pump and dump group made off with millions and it's about to crash again. Who loses? The average person.

[gurunanakji777]

Even I was believing Dogecoin will not hit a .07 cent value but when Elon tweet about Dogecoin and bought some dogecoin as well that changes the dogecoin value. Many investors also invested in Dogecoin now after Elon. I believe the whole movement in Dogecoin just because of Elon. I believe Doge will rise more in the coming months.

[Smitty Werben Man Jensen]

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.

Absolutely overpriced.
Many have forgotten that coin exit but thanks and no thanks to Elon Musk, its suddenly resurfaced. And to think there is no other coin he could have invested in except Dogecoin. Well, his choice. He should just quit misleading people, no need for the tweets.

I don't know what Elon Musk's tweet actually meant was he really cared about Dogecoin or was he just playing around,
What is certain is that I am not very interested in Dogecoin,
and in fact many people were influenced by his tweet and bought it

[motun01]

The whole cryptocurrency market is presently underpriced it'll be very wrong to believe that dogecoin is overpriced because in reality bitcoin has very limited supply which means that it is scarce and also in demand, this in turn means taht the price will always go higher the same can be said of Dogecoin and other cryptocurrencies with limited supply so in the end the price will always go

[memyselfandi]

Ofcourse not. I believe that no coin is being overpriced in the market because for me it is impossible. Btw, how can we consider if the coin in overpriced? The market price of every coin is being set by its coin circulation or in other words, demand and supply, also the trending, market performance and many other aspects to consider. The price of a certain coin is not set by anyone but its own market.

[Edsemen]

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 don't see any overpriced on doge, it's just that demand continued to increase so basically it affects the price as well. Great for the trader who been holding longer terms of this coin, I'm sure profit is actually giving them abundant returns. Hopefully, this will continue to be consistent and won't drop suddenly just like other shitcoins.

[Text]

Ofcourse not. I believe that no coin is being overpriced in the market because for me it is impossible. Btw, how can we consider if the coin in overpriced? The market price of every coin is being set by its coin circulation or in other words, demand and supply, also the trending, market performance and many other aspects to consider. The price of a certain coin is not set by anyone but its own market.

That was also my question.  Some people say that the price of DOGE should not have been like that because it is just a meme coin and that is why its price has risen because of the mention in his other tweets of the current richest man in the world.  Others consider it shitcoin because it has no use.  Also, the total or max supply is not limited so it can not reach a dollar so it is said to be overpriced.

[Simon9710]

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.

How do you tell if a coin is overpriced? It's not like a stock (company) with actual sales and an annual report to base your opinion on. Cryptocurrencies will be priced on supply and demand I think and the expectation to the future.

Personally I have a low expectation to Doges future, but just like bitcoin, cardano and other currencies, it could be a just fine storage of money. But I just don't see the usability of this coin and the name sounds a little like a joke, haha 

[robattfield]

I also thought that when the bull season came, coins like doge would pump in soon. But indeed seeing that X10 after 24 hours is a different story for a coin in the current top20. I think Elon Musk and SWB have brought doge to the moon and are still constantly shiller for the crypto market, but the problem is that doge is really worth it, I think not and what happens to Doge exactly a public pump.

[jjdub7]

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.

The downside of this coin is that its possession is too concentrated in a small number of portfolios.

1% of the addresses contain over 94% of the total supply. This is generally not a plus for future investors.

[bonyaserg]

Dogcoin has always sold at a very low price. And personally, I believe that if the Dogcoin went up in price, then it is very low. But if suddenly the price of Dogcoin rises in price, then this coin in the future can be considered as a very promising investment. So at the moment the coin is in very low activity.

[Kitaiev]

I think that the price is too high and it is very dangerous to trade this coin.
It is better to look from the outside and if you really want to buy this coin for yourself, then do it later when the price is below a cent.

[silverston]

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 difficult to analyze a project that was originally just a joke, a meme project. Now it is actively promoted by Elon Musk, who owns a huge share of tokens. It seems like he even bought them as an inheritance to his son (as he stated). But as soon as he starts pouring them, the game will end ...

[memyselfandi]

Ofcourse not. I believe that no coin is being overpriced in the market because for me it is impossible. Btw, how can we consider if the coin in overpriced? The market price of every coin is being set by its coin circulation or in other words, demand and supply, also the trending, market performance and many other aspects to consider. The price of a certain coin is not set by anyone but its own market.

That was also my question.  Some people say that the price of DOGE should not have been like that because it is just a meme coin and that is why its price has risen because of the mention in his other tweets of the current richest man in the world.  Others consider it shitcoin because it has no use.  Also, the total or max supply is not limited so it can not reach a dollar so it is said to be overpriced.

All of their speculation about dogecoin are based on the tatus of dogecoin before, but now that there are many progress and huge movement in that coin, it will also change the market performance and price value. If you will think deeply, dogecoin increases its price value but not because of Elon Musk tweet, but because many people bought it and invest it that is why it has a sudden market pump.

[Abiky]

I strongly believed that dogecoin is overpriced and the only main reason its having that price as of the moment is because of Mr. Elon Musk shilling and hyping it, even he knows that there is really no use of dogecoin. Nonetheless, its still a good opportunity to gain a good amount of profit because of dogecoin.

Of course. A prominent figure like Elon Musk would surely gain the attention of the general public. His praise towards Dogecoin has led many people to invest in it. It's expected prices to increase according to the high level of demand on the market. Still, I believe the effects won't last for long as people realize Dogecoin is nothing more but an abandoned cryptocurrency with no future. The "FOMO" sentiment is what has driven most people to buy Dogecoin anyways. Prices per DOGE could get back below $0.01 as people seek the next big thing in crypto.

Nonetheless, there's every reason to believe that Dogecoin is extremely overpriced. Things like abandoned development, a huge supply of coins in circulation, and an ever-increasing inflation rate, will negatively impact Dogecoin's price over the long term. The recent pump is only good for those who bought Dogecoin below $0.01. For the rest of the people, it'll be a nightmare once prices go all the way down the drain at a fast pace. Just my thoughts

[scottsanderman12]

Dogcoin has always sold at a very low price. And personally, I believe that if the Dogcoin went up in price, then it is very low. But if suddenly the price of Dogcoin rises in price, then this coin in the future can be considered as a very promising investment. So at the moment the coin is in very low activity.

DOGE overhyped is the whole reason. I don’t understand why Elon Musk is supporting this coin.

[Sazuru]

The value of humor increases in bleak times. I agree with many others that say it's value should decrease at some point. However if we look at the chart it has a growth pattern vaguely similar to that of bitcoin. There are feasible ways in which it could increase in or retain value over time. Over bitcoin it has the one advantage of a still defined but always increasing supply. Though to be truly able to stand up to time that rate of increase should also be decreasing in a defined way to account for the time when acquisition flatlines. It started as a joke, it's still a joke, but many things are possible as this ecosystem grows. Would not recommend purchasing with money that you need or expecting to increase net-worth with it but it is fun to watch over several decades.

[m2017]

Dogcoin has always sold at a very low price. And personally, I believe that if the Dogcoin went up in price, then it is very low. But if suddenly the price of Dogcoin rises in price, then this coin in the future can be considered as a very promising investment. So at the moment the coin is in very low activity.

DOGE overhyped is the whole reason. I don’t understand why Elon Musk is supporting this coin.

Either Musk was just joking, but no one understood it, or he had a hidden interest in Doge. In any case, it is bad when only 1 person has such a large impact on the project and 1-2 posts can affect the price so much. It should also be borne in mind that Dogecoin has not had major improvements and useful changes for a long time. If the project does not create anything useful, and the price of their asset rises, then this is a clear sign of overpriced.