Is Dogecoin overpriced?

[rodskee]

if you look at the history, chart and fundamentals of the coin, it is true that the price of Doge is very overvalued,
because with a total supply of many Doge it can reach a price of more than $0.1 even almost to $1,
of course it cannot be imagined by expert traders, because of the support of the community and Elon,
make Doge can reach a very expensive price, but be careful, even though it has dropped to $0.2,
Doge may come back below $0.1, so be careful

Any coin that only gets successful due to hype will always come back, and that is because of correction, and the moment Elon is done shilling with DOGE, eventually, there will be a lot of dump situations we will witness as newbie investors will easily panic.

Dogecoin is still hype now mate, because this is what we need to accept

https://coinmarketcap.com/currencies/dogecoin/

so basically there will be another pump in the next few days and please don't think that dogecoin is only being Hyped by Elon because admit it or not , it is dogecoin that's in demand now in terms of usage from gambling and even from conversion.

The growth of DOGE is very impressive, but we know from the very beginning that it's only brought by hype, not its fundamentals, you know what I'm saying.

Wrong, and watch if happen even after Elon is gone luring for doge.

[1715398869]

1715398869

[nomenclatur]

dogecoin is too expensive for the price to go up so fast not many people think dogecoin can go this far but it happened so fast and surprised everyone with such a high increase need to be aware dogecoin did not progress that high before nor does it mean price value which means when Elon Musk came along everything changed so quickly the price increased a lot and the interest in Dogecoin got even higher.

[redhack]

I can't believe people still buy DOGE over 30 cents. It should be less than 3 cents.

[Oilacris]

I can't believe people still buy DOGE over 30 cents. It should be less than 3 cents.

Expect the unexpected!

People would turn out to be crazy and doing some stuffs which shouldnt really be done specially if its hyped by someone or  being shilled out.Me too myself didnt really expect for Doge to have this run as this coin should really be good as meme coin or really just good for gambling purposes but surprisingly it did really make out some significant move.

Overpriced or not then we do have our own takings.Some would be dealing still with it and some would just simply avoid it.

[terrific]

I can't believe people still buy DOGE over 30 cents. It should be less than 3 cents.

I'm waiting for that time to see dogecoin costs 3 cents again or anything under 10 cents.
It's about to get close to that price and it had made its downtrend to $0.2.

[7788bitcoin]

People would turn out to be crazy and doing some stuffs which shouldnt really be done specially if its hyped by someone or  being shilled out.Me too myself didnt really expect for Doge to have this run as this coin should really be good as meme coin or really just good for gambling purposes but surprisingly it did really make out some significant move.

The person who promoted was known to influence the stock market and it is not a big surprise that he was able to influence the cryptocurrency market because there is a huge group of people who thinks that whatever he promotes will rally and that is what we were seeing for a long time and it was time for Doge to have a major bull run and anyone who owned Doge for years made a fortune.

Overpriced or not then we do have our own takings.Some would be dealing still with it and some would just simply avoid it.

As long as there are investors coming into the market the price will rally .

[speedforce]

I can't believe people still buy DOGE over 30 cents. It should be less than 3 cents.

I'm waiting for that time to see dogecoin costs 3 cents again or anything under 10 cents.
It's about to get close to that price and it had made its downtrend to $0.2.

Did you plan to buy them on that point? I dont think 0.2 as a strength support, do you have any insight on it?
I expect the right value of Dogecoin is 0.01$, value atm is still overvalued.

[Abiky]

I'm waiting for that time to see dogecoin costs 3 cents again or anything under 10 cents.
It's about to get close to that price and it had made its downtrend to $0.2.

Dogecoin ain't going anywhere. Prices will continue to fall until the "meme" cryptocurrency costs less than a cent (USD). It was never meant to be taken seriously and it'll stay that way for a long time. There are far better cryptocurrencies out there on the market with a proven track record of development and innovation. 40 cents per DOGE is a crazy price considering that the project has been abandoned for quite some time. It's full of hype more than anything else.

I'm waiting for the day when Elon Musk gets bored of Dogecoin so prices could go back to the way they were. I don't think it'll reach $1 soon because of the cryptocurrency's economic model. The huge inflation is what'll kill DOGE in the long run. At current prices, I'd say that Dogecoin is overpriced. Only a noob would think otherwise. Time will tell us whenever Dogecoin will last or fade away into oblivion like the rest of the other useless altcoins on the market. Just my opinion

[wheelz1200]

I'm waiting for that time to see dogecoin costs 3 cents again or anything under 10 cents.
It's about to get close to that price and it had made its downtrend to $0.2.

Dogecoin ain't going anywhere. Prices will continue to fall until the "meme" cryptocurrency costs less than a cent (USD). It was never meant to be taken seriously and it'll stay that way for a long time. There are far better cryptocurrencies out there on the market with a proven track record of development and innovation. 40 cents per DOGE is a crazy price considering that the project has been abandoned for quite some time. It's full of hype more than anything else.

I'm waiting for the day when Elon Musk gets bored of Dogecoin so prices could go back to the way they were. I don't think it'll reach $1 soon because of the cryptocurrency's economic model. The huge inflation is what'll kill DOGE in the long run. At current prices, I'd say that Dogecoin is overpriced. Only a noob would think otherwise. Time will tell us whenever Dogecoin will last or fade away into oblivion like the rest of the other useless altcoins on the market. Just my opinion

Yep been saying this for awhile.  Those block rewards are way to much to sustain any kind of high price.  Doge will keep falling year by year from here.  Too much sell pressure from miners will eliminate any kind of demand rush.

[KennyR]

I'm waiting for that time to see dogecoin costs 3 cents again or anything under 10 cents.
It's about to get close to that price and it had made its downtrend to $0.2.

Dogecoin ain't going anywhere. Prices will continue to fall until the "meme" cryptocurrency costs less than a cent (USD). It was never meant to be taken seriously and it'll stay that way for a long time. There are far better cryptocurrencies out there on the market with a proven track record of development and innovation. 40 cents per DOGE is a crazy price considering that the project has been abandoned for quite some time. It's full of hype more than anything else.

I'm waiting for the day when Elon Musk gets bored of Dogecoin so prices could go back to the way they were. I don't think it'll reach $1 soon because of the cryptocurrency's economic model. The huge inflation is what'll kill DOGE in the long run. At current prices, I'd say that Dogecoin is overpriced. Only a noob would think otherwise. Time will tell us whenever Dogecoin will last or fade away into oblivion like the rest of the other useless altcoins on the market. Just my opinion

These billionaires minds weren't as ours. They'll have fun in making money. We keep struggling to make money, but they play to make money. Maybe this guy is bored of it now, surely he'll disturb the market. Maybe once the same can happen with dogecoin. Hoping for it, holding dogecoin is always a good choice in my opinion. The market that has moved this extent could move to $1 which doesn't look like a big change.

[wheelz1200]

I'm waiting for that time to see dogecoin costs 3 cents again or anything under 10 cents.
It's about to get close to that price and it had made its downtrend to $0.2.

Dogecoin ain't going anywhere. Prices will continue to fall until the "meme" cryptocurrency costs less than a cent (USD). It was never meant to be taken seriously and it'll stay that way for a long time. There are far better cryptocurrencies out there on the market with a proven track record of development and innovation. 40 cents per DOGE is a crazy price considering that the project has been abandoned for quite some time. It's full of hype more than anything else.

I'm waiting for the day when Elon Musk gets bored of Dogecoin so prices could go back to the way they were. I don't think it'll reach $1 soon because of the cryptocurrency's economic model. The huge inflation is what'll kill DOGE in the long run. At current prices, I'd say that Dogecoin is overpriced. Only a noob would think otherwise. Time will tell us whenever Dogecoin will last or fade away into oblivion like the rest of the other useless altcoins on the market. Just my opinion

These billionaires minds weren't as ours. They'll have fun in making money. We keep struggling to make money, but they play to make money. Maybe this guy is bored of it now, surely he'll disturb the market. Maybe once the same can happen with dogecoin. Hoping for it, holding dogecoin is always a good choice in my opinion. The market that has moved this extent could move to $1 which doesn't look like a big change.

Doge getting hammered right now.  The endless supply and the block reward emission is just not sustainable.  It was a fun toy to play with but when the dust settles it's going to be back to a penny or under.  There just won't be enough endless buy support to support the supply.

[coiner-88]

I have a few sums to a great extent, yet in the event that I realized this will occur, I would save significantly more! I say it like that since I bet away a great deal of Doges, just they were less expensive, significantly less expensive. What individuals are really focusing on is that if it's beneficial and if Elon's continue publicizing it. That is the main factor that the vast majority of the financial backers that are getting on it care about.

[terrific]

I'm waiting for that time to see dogecoin costs 3 cents again or anything under 10 cents.
It's about to get close to that price and it had made its downtrend to $0.2.

Dogecoin ain't going anywhere. Prices will continue to fall until the "meme" cryptocurrency costs less than a cent (USD). It was never meant to be taken seriously and it'll stay that way for a long time. There are far better cryptocurrencies out there on the market with a proven track record of development and innovation. 40 cents per DOGE is a crazy price considering that the project has been abandoned for quite some time. It's full of hype more than anything else.

I'm waiting for the day when Elon Musk gets bored of Dogecoin so prices could go back to the way they were. I don't think it'll reach $1 soon because of the cryptocurrency's economic model. The huge inflation is what'll kill DOGE in the long run. At current prices, I'd say that Dogecoin is overpriced. Only a noob would think otherwise. Time will tell us whenever Dogecoin will last or fade away into oblivion like the rest of the other useless altcoins on the market. Just my opinion

People took it seriously because of that guy.
But they now going to have an idea that such coin shouldn't given that type of attention which will put them at a huge cost.
Now that it's decreasing, I'm so sure that many have been rekt.

[LUCKMCFLY]

I think that at the moment it is not expensive, in fact many analysts say that not even another tweet from Elon Musk could lift Doge again, however in the short term the following can be observed:

If the price rebounds off $0.21, the bulls will attempt to push the price back above the neckline. If they succeed, it will indicate strong buying at lower levels. The DOGE/USDT pair may then rise to the 50-day SMA ($0.39).

Source: https://cointelegraph.com/news/price-analysis-6-21-btc-eth-bnb-ada-xrp-doge-dot-uni-bch-ltc

I think those people who are Doge fans, it's a good time for them to buy, but there is a latent risk that it could continue to go much lower. It is at the discretion of each person, but if you trust the currency a lot, it is another type of feeling that is also respected.

[bluebit25]

But how could an investor knows if the coin will make them profiting or losing ? so it is wrong to say that people don't care if the coin is too expensive or not because it is their money that in risk here.
and if mine? lol i will care so much for my funds.

Like you say it's stupid to use your money to bet on something they don't understand, people often think that making a profit in this market is simple, but in reality it's not.

[HaekalZ]

I don't think dogecoin is overpriced, why?
because Dogecoin has a very good and promising project in the next future, dogecoin is a very good coin and also can go to the top in the future,
dogecoin keep getting pumped from all influencers over the world, dogecoin also have a great relation with Cardano (ADA) now.

[Xinarae*]

But how could an investor knows if the coin will make them profiting or losing ? so it is wrong to say that people don't care if the coin is too expensive or not because it is their money that in risk here.
and if mine? lol i will care so much for my funds.

Like you say it's stupid to use your money to bet on something they don't understand, people often think that making a profit in this market is simple, but in reality it's not.

Yes it is very difficult to make a profit in the market if the crypto market is not stable and there is no good knowledge about the market. Therefore in order to reduce the loss one has to analyze the market and then invest this will increase your intelligence and make it easier to do market analysis.

[Smitty Werben Man Jensen]

But how could an investor knows if the coin will make them profiting or losing ? so it is wrong to say that people don't care if the coin is too expensive or not because it is their money that in risk here.
and if mine? lol i will care so much for my funds.

Like you say it's stupid to use your money to bet on something they don't understand, people often think that making a profit in this market is simple, but in reality it's not.

Yes it is very difficult to make a profit in the market if the crypto market is not stable and there is no good knowledge about the market. Therefore in order to reduce the loss one has to analyze the market and then invest this will increase your intelligence and make it easier to do market analysis.

Yes, with us analyzing the market at least it will help us in making the next decision,
because we know for ourselves that the highly volatile cryptocurrency market conditions make it risky

[Renampun]

Of course, Dogecoin is currently overpriced, the fair price is $0.002...

Until now I am still very surprised because there are still people who buy Dogecoin. dogecoin before Elon Musk's tweet was a very fair value. soon for sure, Elon will leave Dogecoin

[wheelz1200]

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's still over priced even after this latest dump.  The 10k coin block reward every minute is just too much to overcome.  When alt euphoria slows down like it always does the supply will flood over the demand and the fall will be drastic.  Probably a good time to short.