Is Dogecoin overpriced?

[Helpme_please]

dogecoin price actually not acceptable in our logic, but back again to market rule which is not anyone could manipulate doge coin price with their fund resources. No utility no usecase and shillied by elon musk which is the person was very big influenceer in the world. Its work and now the whole world depend this man tweet to shake market again

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[wheelz1200]

Doge is so overvalued right now not only in usd terms but in terms of sats.  With 10k doge block rewards every minute this should be back to 25-60 sats in no time.  Buying doge here is a suckers bet.

[redhack]

Doge is so overvalued right now not only in usd terms but in terms of sats.  With 10k doge block rewards every minute this should be back to 25-60 sats in no time.  Buying doge here is a suckers bet.

Well guess too many suckers in the game. Following that Elon train and get wrecked relentlessly.

[Russlenat]

Doge is so overvalued right now not only in usd terms but in terms of sats.  With 10k doge block rewards every minute this should be back to 25-60 sats in no time.  Buying doge here is a suckers bet.

Well guess too many suckers in the game. Following that Elon train and get wrecked relentlessly.

Doge bouncing back, I guess this would somehow give relief to those who are still holding DOGE right now and hoping it will reach $1 to make a profit. It's obvious that DOGE will go down in the long run as the market situation cannot help them to hold on.

I'm watching how DOGE will collapse and what price it will end. 

[wheelz1200]

Doge is so overvalued right now not only in usd terms but in terms of sats.  With 10k doge block rewards every minute this should be back to 25-60 sats in no time.  Buying doge here is a suckers bet.

Well guess too many suckers in the game. Following that Elon train and get wrecked relentlessly.

Doge bouncing back, I guess this would somehow give relief to those who are still holding DOGE right now and hoping it will reach $1 to make a profit. It's obvious that DOGE will go down in the long run as the market situation cannot help them to hold on.

I'm watching how DOGE will collapse and what price it will end. 

Yeah that was just a quick pump because elon was debating jack dorsey and he said the doge word.  Elon pump is over it will continue to slide back into its real price point which is under 100 sats.  10,000 dogecoin block rewards every minute doesn't help either.  In a bear market that will be some heavy saturation and tons of sell pressure.

[LUCKMCFLY]

Doge has been at a loss by a percentage, almost .01% has been lost, I don't understand the reason, because BTC has been recovering, I know that DOGE and all the highs when BTC goes up tend to stay static in a moment, but it is DOGE movements will probably recover at some point since it has a lot of community, it only remains to wait:

With the broader market showing signs of rebound on 21 July, DOGE too pictured a bullish crossover on the same day. However, as DOGE failed to hold on to the momentum, the bears came back briefly on 23 July. At press time, the indicator registered a hike in bullish momentum again.

Source: https://ambcrypto.com/litecoin-cosmos-dogecoin-price-analysis-24-july/

You could say that Doge has dropped below 0.2USD, but I know that at any moment if Elon Musk decides to make a good tweet he will lift the price, he should do so and give the coin a good help.

[Chathusand]

If you are still waiting for a high rise as a doge token meme, I believe it is hazardous. According to what I'm seeing today, doge has seen a significant increase as a result of Elon Musk's stance. Of course, because Fomo, which is currently being produced, represents a significant rise. However, the current purchase will be rather risky because doge is now expensive unless Elon Musk continues to boost doge with his tweets.

[Abiky]

Doge is so overvalued right now not only in usd terms but in terms of sats.  With 10k doge block rewards every minute this should be back to 25-60 sats in no time.  Buying doge here is a suckers bet.

Exactly. But newcomers into crypto don't get it. They believe Dogecoin is a "get rich quick" scheme, when in fact, it is not. The inflationary model of Dogecoin tells us that it should become worthless over time. A price of less than a cent is a more realistic target for DOGE these days. I'm waiting when that times comes to accumulate more Dogecoin for the next bullish trend. I've made so much money when Elon Musk pumped the "meme" cryptocurrency since the beginning of 2021.

One thing for sure is that Dogecoin makes a great short-term investment as it gets pumped so easily by whales, and shills alike. For a serious long-term investment, I'd suggest anyone to look elsewhere. Overpriced or not, the cryptocurrency will survive because of its decentralized and open source nature. Just my opinion

[LUCKMCFLY]

Well, the fight in DOGE has been very strong, apparently the bulls of DOGE are manifesting and do not want the price to go below 0.20USD, and everything indicates that it may go up a little more, so far it has recovered a 4 % of the price:

In the last 24 hour, while other altcoins have risen considerably, DOGE only recorded a 4% gain. On the weekly chart, Dogecoin recorded a substantial 21.6% gain.

The trading volume of DOGE over the last 24 hours decreased by 116.12%, which validates the dip in buying pressure since yesterday. Relative Strength Index noted a slight uptick at press time indicating that buying pressure came back into the market.

Source: https://ambcrypto.com/ethereum-dogecoin-and-ethereum-classic-price-analysis-july-28/

Doge is gaining ground again, apparently Elon Musk with his statements in favor of Bitcoin has helped the currency, also the fact that BTC has recovered indicates that it is very likely that the coins will follow this direction.

[LUCKMCFLY]

Doge is giving good news thanks to the price he is taking, people or investors are thinking of waiting for the price at least 0.4USD to sell, this to protect their money and buy cheaper, although the most believers hope to see the price at 0.6USD and earn more, short-term analysis indicates the following:

If they succeed, the DOGE/USDT pair could rally to $0.35. This level may act as stiff resistance but if bulls clear this hurdle, the up-move may reach $0.45. The 20-day EMA ($0.22) has started to turn up and the RSI is just below the overbought zone, suggesting that the path of least resistance is to the upside.

Source: https://cointelegraph.com/news/price-analysis-8-11-btc-eth-bnb-ada-xrp-doge-dot-uni-link-sol

I do not think it is overvalued, we must take into account that BTC is around the $ 45k levels and it is expected that it can reach $ 50k, however, DOGE is usually a currency that bears see with good eyes, we have to wait if they bulls vain to defend the price range.

[Botnake]

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

What investors of this coin are probably looking are on the price history, and since it's very bullish, they had ridden in. They are outsmarted by Elon, they didn't know the fundamentals of the coin so their basis of the future potential is only based on how Elon has accepted it. I don't know why until now it's not dumping yet, maybe there's really a lot of bag holders on this coin waiting for it to reach $1.

[wheelz1200]

Doge is giving good news thanks to the price he is taking, people or investors are thinking of waiting for the price at least 0.4USD to sell, this to protect their money and buy cheaper, although the most believers hope to see the price at 0.6USD and earn more, short-term analysis indicates the following:

If they succeed, the DOGE/USDT pair could rally to $0.35. This level may act as stiff resistance but if bulls clear this hurdle, the up-move may reach $0.45. The 20-day EMA ($0.22) has started to turn up and the RSI is just below the overbought zone, suggesting that the path of least resistance is to the upside.

Source: https://cointelegraph.com/news/price-analysis-8-11-btc-eth-bnb-ada-xrp-doge-dot-uni-link-sol

I do not think it is overvalued, we must take into account that BTC is around the $ 45k levels and it is expected that it can reach $ 50k, however, DOGE is usually a currency that bears see with good eyes, we have to wait if they bulls vain to defend the price range.

Charts are great and all but look at the run doge has had since last year.  It has exponentially grown while adding a coue billion new doge to its market cap.  In the long run there is no way that is sustainable.  It's not like anyone serious is going to start accepting doge as a payment.  What use is it if you can't use it and inflation is insane at 10k new doge per minute?

[smartaction]

Yes at one point DogeCoin formed an incredible stem. It was crossed the 70 cent milestone some month ago. It was completely overprice. Which was truly incredible. But it did not succeed for long, it fell below 20 cents again. I don’t think it will hit again that price

[Wong Gendheng]

dogecoin price actually not acceptable in our logic, but back again to market rule which is not anyone could manipulate doge coin price with their fund resources. No utility no usecase and shillied by elon musk which is the person was very big influenceer in the world. Its work and now the whole world depend this man tweet to shake market again

I hope there will be more tweets that will make global speculators invest in DOGE, but I believe that DOGE's performance doesn't just depend on Elon, I think the world's big investors have a strong analysis of DOGE that makes them buy DOGE.

[beveryu778]

I can't say what will happen to DogeCoin in the future but I hope DogeCoin do something very good one day.
Looking at Elon Musk's tweet, I think Dogecoin will grow a lot more up front

[Tervelatuk]

Yes at one point DogeCoin formed an incredible stem. It was crossed the 70 cent milestone some month ago. It was completely overprice. Which was truly incredible. But it did not succeed for long, it fell below 20 cents again. I don’t think it will hit again that price

overprice or not let market decided , and if it is true dogecoin today overprice there should not alot investors buying this coin. no matter it have  no utility , but investors save doge coin as speculative assets in order hope elon or other public figure will shill more.

I can't say what will happen to DogeCoin in the future but I hope DogeCoin do something very good one day.
Looking at Elon Musk's tweet, I think Dogecoin will grow a lot more up front

its totally right dude, dogecoin have hidden potency to explode someday. utility doesnt be main thing for investors if they bought some coin , community support and liquidity will be their option. and if elon have been doge coin community , i am believe he will do more in future.

[Abiky]

Charts are great and all but look at the run doge has had since last year.  It has exponentially grown while adding a coue billion new doge to its market cap.  In the long run there is no way that is sustainable.  It's not like anyone serious is going to start accepting doge as a payment.  What use is it if you can't use it and inflation is insane at 10k new doge per minute?

Dogecoin had a great rally. But I'm afraid the trend won't last for long. The fact that DOGE was created as an inflationary cryptocurrency, tells us that it shouldn't be relied as a serious long-term investment. Given that billions of coins are in circulation today, I'd say that the "meme" cryptocurrency is quite overpriced. Dogecoin should've been worth less than $0.01 by now if we base ourselves on its economic model. Besides, the number of merchants and businesses accepting Dogecoin are extremely low. The coin itself is only a speculative asset than a utilitarian one. There are far better cryptocurrencies out there with cheaper fees, faster speeds, and greater merchant acceptance. Until people really understand why Dogecoin was created, we'll continue to see them investing into the coin foolishly based on hype or someone else's opinion. Just my opinion

[KeikoKitagawa18]

if we compare this coin with other coins which are in the top 10 coinmarketcap I can say this coin is overpriced. Why i can say like this because i can't see any product, services or anything about this coin, in my perspective dogecoin only coin who can up because of the pure hype.

[LongStand]

I think Dogecoin is now not overpriced. We could  say that if doge was only meme coin, but now Doge is using for real world purpose and big influencer like Elon is promoting it. In the future, we can also see that Tesla will accept Doge and then we can see bullish scenario for Dogecoin.

[LUCKMCFLY]

The price of DOGE is quite good, since August 14 it took a big bullish turn passing by 0.29USD and rising, then it fell and now it is at 0.32USD, after having been at the 0.20usd levels, it is not bad at all:

If buyers thrust the price above $0.35, the DOGE/USDT pair could rally to the next overhead resistance at $0.45.

Source: https://cointelegraph.com/news/price-analysis-8-20-btc-eth-ada-bnb-xrp-doge-dot-sol-uni-bch

The Doge bulls are very active, the bulls don't want to release any opportunities to the bears, they seem to be getting their way without outside help like Elon Musk.