Is Dogecoin overpriced?

[Flor1982]

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.

Elton Musk may be bought some dogecoin but probably not bought many yet. If Musk buys a lot (Say 1 billion), the prices should be around 1 dollar level now. Maybe he will buy more in the future if the price keeps in the low range to aid it's up. So I suggest buying some dogecoin and hold it for the long term.

[guydin]

Elon Musk is trying to implement his brilliant business ideas wherever possible. He's an insanely influential person, but I find this whole Dogecoin promotion weird.

Why does he raise the price of the coin, then lower it, then ask large holders to sell their assets. Does Dogecoin have further development plans? How do the creators of the coin plan to update the project, due to which the project will grow? If the Dogecoin coin falls, Elon Musk will not lose anything, and people who believe in his strange tweets will lose their money. 

[Text]

Elon Musk is trying to implement his brilliant business ideas wherever possible. He's an insanely influential person, but I find this whole Dogecoin promotion weird.

Why does he raise the price of the coin, then lower it, then ask large holders to sell their assets. Does Dogecoin have further development plans? How do the creators of the coin plan to update the project, due to which the project will grow? If the Dogecoin coin falls, Elon Musk will not lose anything, and people who believe in his strange tweets will lose their money. 

I see no other reason why its price is so high this year but just because of Elon, the posts he mentioned in his tweets related to it are really weird, maybe those who want to follow him are confused so not even know what to do.  The one I read about upgrading/updating this coin did not say what types it was or maybe it was just planned, I still haven't seen anything from their official source maybe it was just fabricated by those who write or publish articles to ride the hype created by Musk.

[Abiky]

Dogecoin is overpriced and always has been and always will be.  There is literally no reason that dogecoin should have any sort of significant market cap.  The coin was created as a meme, is pumped and dumped time after time, and has no legitimate future.  Think about it, what does Dogecoin offer us that a thousand other coins don't already offer?  If you truly believe in Dogecoins future I've got news for you...you need to spend a lot more time learning some finance /cryptocurrency basics.

Couldn't agree more with you, mate. Dogecoin was never meant to be used seriously for mainstream payments. Eventually, people will witness the negative effects of the cryptocurrency's inflationary model as it becomes less valuable over time. At least, the way Dogecoin was designed tells me this will happen in the future. The only way to fix it is by making DOGE a deflationary cryptocurrency like Bitcoin. But knowing that the project is abandoned by its developers, this becomes nothing more than a dream.

Rest assured that once the hype fades away, Dogecoin will head back to prices below $0.01 per coin. People are investing into Dogecoin just because some popular guy like Elon Musk says so. If they did their own research about the project, they would've realized that the coin has no future at all. At least, the coin will survive for a long time because of the community backing it every step of the way. But as I've said before, its price will go down the drain at a fast pace because of its inflationary model. Just my opinion

[juanda]

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.

Yes, I think the current price of Dogecoin is too expensive due to the huge total supply of Dogecoin. although currently Dogecoin has provided huge profits for traders but in my opinion the price of Dogecoin is very high. but I am sure the price of Dogecoin will fall again in the near future. moreover elon musk's tweet will sway the masses towards Dogecoin in the future.

[no-ice-please]

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.

Yes, I think the current price of Dogecoin is too expensive due to the huge total supply of Dogecoin. although currently Dogecoin has provided huge profits for traders but in my opinion the price of Dogecoin is very high. but I am sure the price of Dogecoin will fall again in the near future. moreover elon musk's tweet will sway the masses towards Dogecoin in the future.

The supply isn' really what matters. The question is whether the market cap still makes sense for a meme coin. I would say it is at least funny and strange, but in the end the community decides and it seems they DOGE worth the investment even at these prices.

[infer]

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.

As you can see, cryptocurrencies have no stable value. Its price fluctuations take place very quickly. May increase or may decrease depending on the market and as the user's trading demand. I don't think it's uncommon for it to rise again. Although it was created as a joke. But it is common to use it because trading fees are cheap. So DOGE is not too surprised.

[daenarys_stormborn]

I think Dogecoin is indeed overpriced, but that's how the crypto market is, and no one can predict the next Dogecoin price, many factors can determine the rise and fall of coin prices, not only in terms of the goodness of the coin project, but there are people who are popular behind the reason for coins it goes up, for example the elon musk

[imran101]

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 way you are surprised, everyone is much more surprised about this project. No one ever imagined that the price of such a quality project could go up so much. It remains to be seen where the price of this project will continue to rise. Many say the price will go above $ 1. Maybe the chances of going are much higher but it is much better not to invest here at the present time. I think it is very beneficial to stay away from it.

[fortune1002]

I also was puzzled how dogecoin reach at 0.30$. Past month it was only 0.005-0.01$. How it happened? I think it will grow more in future. All the coins have multipled. So I think it will also grow with other coins.

[Abiky]

I also was puzzled how dogecoin reach at 0.30$. Past month it was only 0.005-0.01$. How it happened? I think it will grow more in future. All the coins have multipled. So I think it will also grow with other coins.

Don't get your hopes high yet. What's happening on the market now is only temporary, as Dogecoin is in a bubble that will pop faster than you could imagine. People are only investing in Dogecoin because they're following Elon Musk's comments across social media. They don't care about the economics of Dogecoin as long as they're able to make a quick buck in the long run. Once DOGE reaches the top, it'll go down the drain at a very fast pace. I believe Dogecoin to be extremely overpriced considering the huge amount of coins in circulation. Not only that, but the Dogecoin blockchain is inflationary by design. New coins will be generated over time, making it less valuable over time. At least, that's the way it should be. How far this "meme" coin will go, will greatly depend on people themselves.

Nonetheless, it would be unwise to buy Dogecoin at current prices unless you'd want to make profits in the short term. As a long term investment, it's recommended to look elsewhere. The only way Dogecoin will become a truly valuable cryptocurrency is if developers shorten its supply. If they do this and the community approves it, DOGE will be on the road towards non-stop growth in price. Otherwise, it'll decline until it becomes worthless just like it was before the hype. Time will tell us what will happen with DOGE's price on the market. Just my thoughts

[cafee_orange]

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 am sure that before the price of Dogecoin soared like now, many traders underestimated the coin, but when compared to before, the current price of Dogecoin is the highest price it has ever achieved. I think the current price of Dogecoin is the highest.

[Russlenat]

After Elon Musk shilling DOGE, we have Mark Cuban (owner of Dallas Mavericks) joining the party, with a statement of his own.

Billionaire Mark Cuban Says Dogecoin Is Better Than a Lottery Ticket

More billionaires shilling on DOGECOIN, it could reach $1 anytime soon.

[Rabi3]

After Elon Musk shilling DOGE, we have Mark Cuban (owner of Dallas Mavericks) joining the party, with a statement of his own.

Billionaire Mark Cuban Says Dogecoin Is Better Than a Lottery Ticket

More billionaires shilling on DOGECOIN, it could reach $1 anytime soon.

why specifically Dogecoin tho ?! maybe they see a bright future for this coin, and if other rich known celebs that has some influence on their followers would get Dogecoin to rise even more, and i think 1$ is an easy target.

[longyenthanh]

After Elon Musk shilling DOGE, we have Mark Cuban (owner of Dallas Mavericks) joining the party, with a statement of his own.

Billionaire Mark Cuban Says Dogecoin Is Better Than a Lottery Ticket

More billionaires shilling on DOGECOIN, it could reach $1 anytime soon.

We are not really sure if Elon Musk has invested in DOGE. His tweets could only be a joke. But personally, I think he has invested. For sure not so much as in Bitcoin, but you can see how much more DOGE went up in percentage compared to Bitcoin after his investment. I think it is better to invest 1M in inofficial way in DOGE and earn 10000% than 1.5B and earn 200%. I think $1 is ahivable and it will happen sooner or later. And what will you say if DOGE will jump to $3..? 

[viananda2525]

After Elon Musk shilling DOGE, we have Mark Cuban (owner of Dallas Mavericks) joining the party, with a statement of his own.

Billionaire Mark Cuban Says Dogecoin Is Better Than a Lottery Ticket

More billionaires shilling on DOGECOIN, it could reach $1 anytime soon.

another famous person shilling doge again , we know their motive why shilling doge and its be mysterious for us. since few weeks ago doge coins price pumped hard afteer elon musk tweet, and now mark cuban shilling it too. is it speculation action or they actually have dogecoin in their portofolio .

[HyunBin]

Dogecoin is definitely overpriced knowing for a fact that there are infinitely many circulating supply in the market. Also, the main reason why it get a massive pump is because it is just being shilled by some well-known influencers such as Elon Musk, Mark Cuban and even Mia Khalifa.

[magneto]

Is this even a question?

Everyone with a brain knows that Doge is substantially overpriced from what its fundamentals are (if it even has any fundamentals). I'm fairly sure that even the earliest dogecoin adopters and the founders would be comfortable in admitting that.

It's now just a complete mania, and a speculative game where people are guessing how much others would pay for the same token in the future. The interesting thing is that there is no baseline valuation to measure Dogecoin's value off of which makes price manipulation a whole lot easier.

[FinneysTrueVision]

Since this thread has started the price has gone up even more. It is obviously overpriced. The only developments we've seen were minor features. They do not have very strong security for a proof of work coin. It has a ridiculously large total supply and there are a few whales that own most of the coins. People only want Doge because it is a meme coin not because it is good money.

[Psynthax]

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 the word overpriced is imprecise word for any cryptocurrency my friend
because sometimes when a lot of people think if the price already overpriced but the fact the price still growing

I mean if most of people think of a coin as overpriced doesn't the market simply reflect that by having some correction since the demand in the market coming from the people itself? In the case of doge, so many people are actually very bullish about it thinking that it could go well above $1 though there's no real reasoning behind it as people mostly are just following the hype blindly but it seems it's either BNB or doge that are being shilled the most IMO and I think whether the coin like doge could be judged to be overpriced or not entirely depends on how the price of such coins was build up until it could hits the current price which surpasses the ATH from the last year. Personally, I think it's overpriced.