Is Dogecoin overpriced?

[DU18]

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.

People who buy doge even when they know the value is already too high must be taking a big risk in my opinion, we know all this time doge has gone up only because of the hype tweets from elon musk and when elon musk started tweeting about other altcoins (baby doge) of course the price of doge will continue to fall and will most likely return to the bottom later, buying and holding altcoins without strong fundamentals is certainly suicide in my opinion.

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[fr4nkthetank]

Elon is probably trying to dump his holdings on poor folk, so he tweets positive stuff to manufacture buyers

[Rabi3]

Elon is probably trying to dump his holdings on poor folk, so he tweets positive stuff to manufacture buyers

this could be very true, he's talking and sharing about Doge just for his own profit, he doesn't care about crypto in other ways, he just sees it an opportunity to make money out of it, how do think he's rich ?! he knows what he's doing.

[tabas]

Elon is probably trying to dump his holdings on poor folk, so he tweets positive stuff to manufacture buyers

That's what actually has been happening. When he has probably millions of it and tweets to talk about it. The people who have been following him all of the time we're happy that he mentions a "crypto" but it's all about Dogecoin.
Then when he got the right price to sell, boom, that's when he's about to make a move to drop the bomb and dump all of his doges in an instant.

[ElmedoRator]

~

We can't stop those people or point them to the direction that we want them to see,

As they seen other else fro what we practically understood, there are people who are willing to take the risk gambling with opportunities
to buy at the right time and sell it when the value pumped high, those who also influenced people around them thinking that they'll might
catch the right train.

I never thought that doge coin could reach its current values, but with a market that is considered crazy and nothing is impossible, it has happened. My close friends know that I work in this field, but what they come to and want to learn and listen to advice is for doge coin. Anyway, doge coin is bringing interesting things all the time along with bringing about a silly trend in the market for meme coins.

[LUCKMCFLY]

Doge has been in a lot of speculation, of course everyone expects Elon Musk to do something about it, but there is a very big possibility that it will fall below 0.2usd, this technical analysis proves it:

If that happens, the DOGE/USDT pair could drop to the next important level at $0.15. A break below this support could result in panic selling. The downsloping moving averages and the RSI below 38 indicate that bears are in control.

Source: https://cointelegraph.com/news/price-analysis-7-12-btc-eth-bnb-ada-doge-xrp-dot-uni-bch-ltc

Many take advantage of the moment to buy in the dip, but it is very likely that the price of BTC will go down a bit, there is a lot of panic in the market, so we see in some news the bears seem to dominate, but this is in the short term .

[Abiky]

Yes, it is overpriced because it was overhyped by Elon Musk. Because of Elon Musk’s popularity and influence it became hyped across the world. It just a pump and dump, when the price pumped, most of the large investors sold their dogecoin then after that it eventually go down. Unlike bitcoin, that is only limited to 21 million supply, dogecoin has unlimited cap on supply that can cause negative impact over time.

Elon Musk is the one who triggered DOGE's prices to go to the roof. Without him, Dogecoin would've still been worth less than a cent. While prices are starting to decline, Dogecoin's still overpriced trading at $0.20 since the time of this writing. With so many coins in circulation (and the ones that will be generated over time), there's no reason for DOGE to go up anytime soon. Newcomers into crypto will become "rekt" once this happens as they've made their investment decision based on hype instead of doing their own research.

What matters is not the price per coin, but rather its usefulness. As long as Dogecoin is useful and supported by the community, it'll survive for a very long time. Just my opinion

[abel1337]

Yes, it is overpriced because it was overhyped by Elon Musk. Because of Elon Musk’s popularity and influence it became hyped across the world. It just a pump and dump, when the price pumped, most of the large investors sold their dogecoin then after that it eventually go down. Unlike bitcoin, that is only limited to 21 million supply, dogecoin has unlimited cap on supply that can cause negative impact over time.

Elon Musk is the one who triggered DOGE's prices to go to the roof. Without him, Dogecoin would've still been worth less than a cent. While prices are starting to decline, Dogecoin's still overpriced trading at $0.20 since the time of this writing. With so many coins in circulation (and the ones that will be generated over time), there's no reason for DOGE to go up anytime soon. Newcomers into crypto will become "rekt" once this happens as they've made their investment decision based on hype instead of doing their own research.

What matters is not the price per coin, but rather its usefulness. As long as Dogecoin is useful and supported by the community, it'll survive for a very long time. Just my opinion

If anyone bought DOGE at its current price, I think that it should only be trading on a short-term basis. I don't see any reason why DOGE coin will still maintain its price. The support from the community is not a strong as the recent pump and the hype is slowly fading from time to time and I agree that newcomers will only be rekt if they rely so much on the hype and not on the fundamentals of a coin.

[Helpme_please]

i think it is not only dogecoin that overprice, most of coins now overprice especially in Meme coin which is have no utility at all. Actually in cryptocurrency we have no standarization about price, how to set a coin could called as overprice or maybe undevalue. bitcoin , ethereum and other cryptocurrency price was settled by supply and demand in market and based on consensus in market.

[Shasha80]

Yes, it is overpriced because it was overhyped by Elon Musk. Because of Elon Musk’s popularity and influence it became hyped across the world. It just a pump and dump, when the price pumped, most of the large investors sold their dogecoin then after that it eventually go down. Unlike bitcoin, that is only limited to 21 million supply, dogecoin has unlimited cap on supply that can cause negative impact over time.

Elon Musk is the one who triggered DOGE's prices to go to the roof. Without him, Dogecoin would've still been worth less than a cent. While prices are starting to decline, Dogecoin's still overpriced trading at $0.20 since the time of this writing. With so many coins in circulation (and the ones that will be generated over time), there's no reason for DOGE to go up anytime soon. Newcomers into crypto will become "rekt" once this happens as they've made their investment decision based on hype instead of doing their own research.

What matters is not the price per coin, but rather its usefulness. As long as Dogecoin is useful and supported by the community, it'll survive for a very long time. Just my opinion

If anyone bought DOGE at its current price, I think that it should only be trading on a short-term basis. I don't see any reason why DOGE coin will still maintain its price. The support from the community is not a strong as the recent pump and the hype is slowly fading from time to time and I agree that newcomers will only be rekt if they rely so much on the hype and not on the fundamentals of a coin.

Even though the price of Dogecoin is now very low, it is better to buy Dogecoin only for short-term trading. It is very risky to invest in Dogecoin
in the long term, because I doubt Dogecoin can return to the ATH price, because the price of Dogecoin is indeed overpriced. Moreover, many people
have begun to realize what Elon Musk did just to manipulate prices, so now it's hard for Elon Musk to create Dogecoin hype again. For newbies
I suggest not buying Dogecoin, because there are many other coins that have strong fundamentals and are safer for investment.

[Botnake]

Even though the price of Dogecoin is now very low, it is better to buy Dogecoin only for short-term trading. It is very risky to invest in Dogecoin
in the long term, because I doubt Dogecoin can return to the ATH price, because the price of Dogecoin is indeed overpriced. Moreover, many people
have begun to realize what Elon Musk did just to manipulate prices, so now it's hard for Elon Musk to create Dogecoin hype again. For newbies
I suggest not buying Dogecoin, because there are many other coins that have strong fundamentals and are safer for investment.

start this quarter Doge coins will plummed and hard to back all time high , for short term investment personally i am prefer look into other coins such as solana or other major currency. Maybe it have possibility to back below $0,1 again , and if it happen i will speculate some money and wait what Elon Musk say could realized or not that Tesla with accept doge in 2022.

Elon will be so desperate if he will do that just because DOGE is down, that shows his manipulation on the market and his never-ending shilling on DOGECOIN. IMO, DOGE will certainly dump anytime because it's overpriced and anything that is overpriced will not last to carry its value.

[DPrillio]

i think it is not only dogecoin that overprice, most of coins now overprice especially in Meme coin which is have no utility at all. Actually in cryptocurrency we have no standarization about price, how to set a coin could called as overprice or maybe undevalue. bitcoin , ethereum and other cryptocurrency price was settled by supply and demand in market and based on consensus in market.

A coin's value still base on its supply and demand, calling dogecoin as under value is unreasonable as if we look at its movement now it climbs up to 6000% and that is because its demand on the market is higher and even it is manipulated or not i still believed that dogecoin is not over valued.

[Shasha80]

Even though the price of Dogecoin is now very low, it is better to buy Dogecoin only for short-term trading. It is very risky to invest in Dogecoin
in the long term, because I doubt Dogecoin can return to the ATH price, because the price of Dogecoin is indeed overpriced. Moreover, many people
have begun to realize what Elon Musk did just to manipulate prices, so now it's hard for Elon Musk to create Dogecoin hype again. For newbies
I suggest not buying Dogecoin, because there are many other coins that have strong fundamentals and are safer for investment.

start this quarter Doge coins will plummed and hard to back all time high , for short term investment personally i am prefer look into other coins such as solana or other major currency. Maybe it have possibility to back below $0,1 again , and if it happen i will speculate some money and wait what Elon Musk say could realized or not that Tesla with accept doge in 2022.

Finally Dogecoin drops below $0.2, after this there is a possibility that Dogecoin will fall even deeper. If we want to buy Dogecoin it's actually quite
low right now, but it would be safer to wait for the price to drop to $0.15. But remember that after successfully buying Dogecoin, if we make a profit,
sell it immediately. Because the risk is very high if long-term investment in Dogecoin, rumors regarding Tesla will accept Dogecoin payments in 2022
don't seem to be able to make the price of Dogecoin go up, so like I said before, it's better to just choose to invest in other coins. Solana is quite
promising, so it can be an option for investment other than Dogecoin.

[kapalmabur]

i think it is not only dogecoin that overprice, most of coins now overprice especially in Meme coin which is have no utility at all. Actually in cryptocurrency we have no standarization about price, how to set a coin could called as overprice or maybe undevalue. bitcoin , ethereum and other cryptocurrency price was settled by supply and demand in market and based on consensus in market.

A coin's value still base on its supply and demand, calling dogecoin as under value is unreasonable as if we look at its movement now it climbs up to 6000% and that is because its demand on the market is higher and even it is manipulated or not i still believed that dogecoin is not over valued.

It's true that the higher the demand, of course, the price of Dogecoin will rise.
the movement of dogecoin can't be compared to other coin memes,
I don't know if it's really being manipulated or not but dogecoin's achievements are very good by staying on top

[bitterguy28]

i think it is not only dogecoin that overprice, most of coins now overprice especially in Meme coin which is have no utility at all. Actually in cryptocurrency we have no standarization about price, how to set a coin could called as overprice or maybe undevalue. bitcoin , ethereum and other cryptocurrency price was settled by supply and demand in market and based on consensus in market.

A coin's value still base on its supply and demand, calling dogecoin as under value is unreasonable as if we look at its movement now it climbs up to 6000% and that is because its demand on the market is higher and even it is manipulated or not i still believed that dogecoin is not over valued.

It's true that the higher the demand, of course, the price of Dogecoin will rise.
the movement of dogecoin can't be compared to other coin memes,
I don't know if it's really being manipulated or not but dogecoin's achievements are very good by staying on top

Meme coins that reached the top .

I think the time has come to admit that the increase was done and this will come back to what is the price from last year.

Elon is probably trying to dump his holdings on poor folk, so he tweets positive stuff to manufacture buyers

Because that is the real plan from the very beginning .

[Botnake]

i think it is not only dogecoin that overprice, most of coins now overprice especially in Meme coin which is have no utility at all. Actually in cryptocurrency we have no standarization about price, how to set a coin could called as overprice or maybe undevalue. bitcoin , ethereum and other cryptocurrency price was settled by supply and demand in market and based on consensus in market.

A coin's value still base on its supply and demand, calling dogecoin as under value is unreasonable as if we look at its movement now it climbs up to 6000% and that is because its demand on the market is higher and even it is manipulated or not i still believed that dogecoin is not over valued.

It's true that the higher the demand, of course, the price of Dogecoin will rise.
the movement of dogecoin can't be compared to other coin memes,
I don't know if it's really being manipulated or not but dogecoin's achievements are very good by staying on top

Meme coins that reached the top .

I think the time has come to admit that the increase was done and this will come back to what is the price from last year.

Dogecoin has nowhere to go but down, the bear market is very strong, the price is going and soon bitcoin will struggle holding $30k.
As of this time, DOGE is only 0.189 USD, it's still high, for sure it will dump more.

Elon is probably trying to dump his holdings on poor folk, so he tweets positive stuff to manufacture buyers

Because that is the real plan from the very beginning .

Indeed, when he know how to manipulate the market, he always win in the end.

[Abiky]

Dogecoin has nowhere to go but down, the bear market is very strong, the price is going and soon bitcoin will struggle holding $30k.
As of this time, DOGE is only 0.189 USD, it's still high, for sure it will dump more.

Exactly. Dogecoin has nowhere to go, since it's nothing more than pure hype. There's no active development or innovation whatsoever. The "meme" cryptocurrency is overpriced just because there are a lot of coins in circulation. Only a fool would buy DOGE at these prices. As I've said many times before, there are far better cryptocurrencies out there on the market with greater transaction capacity and cost-efficiency than Dogecoin itself. If you want to preserve your investment for the long term, it's best to invest into another cryptocurrency that's much scarcer than DOGE. I can't seem to find anything good about Dogecoin except that it's wildly-volatile nature makes it a great choice for short-term profits. Time will tell us how far Dogecoin will go as the competition becomes fierce in the crypto/Blockchain space. Just my opinion

[mirakal]

Only a fool would buy DOGE at these prices.

Then it has already proved that there's a lot of fool in the crypto space as they bought DOGE to the current price and market now, not totally a fool, maybe just a victim of Elon Musk hype and they just follow blindly, so there's nothing they can blame if DOGE will collapse (which is likely) but themselves.

[Tervelatuk]

Only a fool would buy DOGE at these prices.

Then it has already proved that there's a lot of fool in the crypto space as they bought DOGE to the current price and market now, not totally a fool, maybe just a victim of Elon Musk hype and they just follow blindly, so there's nothing they can blame if DOGE will collapse (which is likely) but themselves.

they trapped in hype that elon must created, his shilling every day and statement that tesla will accept doge be the main reason why lot of investors buying this coin. They didn't properly research or analize that elon musk trying to manipulate market. Elon win alot in doge coin , maybe he bought and shill it to create huge profit from beginer investors.

[Rabi3]

i think it is not only dogecoin that overprice, most of coins now overprice especially in Meme coin which is have no utility at all. Actually in cryptocurrency we have no standarization about price, how to set a coin could called as overprice or maybe undevalue. bitcoin , ethereum and other cryptocurrency price was settled by supply and demand in market and based on consensus in market.

A coin's value still base on its supply and demand, calling dogecoin as under value is unreasonable as if we look at its movement now it climbs up to 6000% and that is because its demand on the market is higher and even it is manipulated or not i still believed that dogecoin is not over valued.

but why do you think the demand on the market is really high ? what is reasonable about buying DOGE instead of other coins and altcoins that also have low fees and faster transactions speed than DOGE ? that's why people say it's overpriced, and i agree with them, it is a meme coin, the high demand on it actually proves that it's overpriced and overrated.