The answer to can Dogecoin be capped is no, DOGE doesn't feature a hard cap on its total supply.
While this sets Dogecoin apart from other cryptocurrencies such as Bitcoin, it’s certainly not a bad thing.
Each year, 5 billion coins are added to the total supply of Dogecoin.
Yes, you read that number correctly…
Let’s explore a few common questions around the Dogecoin cap and discuss whether Dogecoin’s lack of supply cap can be viewed as a positive reason to buy Dogecoin.
Will there ever be a cap on Dogecoin?
According to the creators, there will never be a cap on Dogecoin supply.
But when push comes to shove, it doesn’t really matter whether Dogecoin has a cap or not.
The supply of Dogecoin is simply too high.
This is why Dogecoin has such a high market cap, but a relatively low price when compared to Bitcoin.
As Dogecoin can’t be capped however, there is always going to be inflationary pressure from the market.
If Dogecoin is inflationary, how does it go up in value?
Relax crypto noobs, inflation isn’t the dirty word that you think it is.
There are currently around 135 billion Dogecoin in circulation and with only 5 billion coins being added to the total supply per year, the inflation rate is actually reducing.
Much supply, such wow.
So even though Dogecoin technically has an unlimited supply, it’s reducing inflation rate keeps it in check.
Just because an asset is deflationary doesn’t make it valuable.
It’s actually because of Dogecoin’s inflation that miners always are better incentivised to secure the network and keep transaction costs low.
You could say that inflation is actually putting the currency in cryptocurrency.
Dogecoin was always intended to be an internet meme tipping currency afterall.
How high can Dogecoin go?
Well, that’s the 64 million dollar question.
When asked how high can Dogecoin go, I’ve thrown ridiculous potential price targets like $100 out onto the page.
But do you want the real answer to how high Dogecoin can go?
Here it is:
AS MUCH AS SOMEONE IS WILLING TO PAY FOR IT
Right now the price of DOGE is being pumped by Robin Hood trading children and internet meme-lords who don’t give two fucks about whether Dogecoin can be capped.
They’re buying Dogecoin because the price is going up and they want a piece of the action.
Just make sure you’re not the last one to take a seat when the music inevitably stops.
Best of probabilities to you.
Direct from the desk of Dane Williams.
This blog is exclusive to leofinance.io
Why not leave a comment and share your thoughts on whether Dogecoin can be capped in the comments section below? All comments that add something to the discussion will be upvoted.
This Dogecoin blog is exclusive to leofinance.io.
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Not investing in it and nor will I ever.
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Much coin.
How money.
Wow.
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Before I was a big fan of this coin, now I think I hate it since I got off the train early, in case I had like 4 wallets, some with little more than 30k doge but hey, there's no use lamenting!
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That would have been a nice $16K...
Ah, isn't hindsight a beautiful thing when it comes to investing?
I wouldn't beat yourself up too much though.
Everyone has an investment story like this where they would have, should have, could have become a millionaire if only they did 'x'.
Lucky for us, there's always another opportunity waiting for us just around the corner.
We've just gotta put ourselves in a position to take full advantage of them when they come.
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Here I agree with you and it is still a good sum, I am sure that some would have had enough to buy a Lambo if they had retained!
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This sums it up nicely. I unfortunately won't be jumping on the band wagon right now as I am not willing to pay the current prices for it.
How much are you willing to pay for it?
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I actually just found some old Dogecoin I had sitting in my Steem-Engine wallet and immediately dumped it.
My investment portfolio is exclusively reserved for coins that solve real problems, but only go down in price.
Like HIVE.
Much wow.
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That's the sad part of everything. The stuff with no use cases get pumped while LEO/HIVE is essentially stagnant in price lately.
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Nice article. Doge is a mystery to all of us and we can always throw ridiculous potential prices and it can come true. Funny
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If you had have said that a cryptocurrency that can't be capped, like Dogecoin, would do over 100x from its base at the start of this bull run, THEN you would have been laughed at.
But hey, this is crypto so it's just business as usual.
Can Dogecoin reach $1?
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But still, DOGE is doing great on the market. It doesn't really deserve that spot, but I sure know a project that would.
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No way you can say that Dogecoin doesn't deserve its spot at #4 when ranked by market cap.
CoinMarketCap:
Dogecoin has a strong community, a set of die hard gorilla marketers on social media and even celebrity support without even paying them (hey Elon if you're reading this!).
They're everything that Hive wants to be, with half the token utility.
Maybe one day Hive will sort its shit out, but unfortunately we're still a long way off.
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😁. Pretty much what I wrote in my latest post. I was referring to the fact that DOGE doesn't deserve that spot imo based on its use case. Hive is 10x better than Dogecoin and still out of top 100.
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14.4 Millions coins a day being minted..... Mining them is probably the safest bet if you want to get in on the DOGEy train!
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Mate,
Did you see in the chat earlier today that I actually found I had 600 DOGE sitting in a wallet on Steem-Engine haha?
My lost Dogecoin wallet:
They were the Dogecoin dust I had 'mined' from that old faucet called coinpot.
I put them into Steem-Engine when the faucet closed down and only just realised that I could still access them after the Hive/Steem split.
(Of course they were immediately dumped, I'm not a psycho haha)
Long live Dogecoin!
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I did. I checked mine to see if I had any.... No luck but I found 10 STEEM sitting there...... And I dumped that as well!
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Doge is a great meme and a good example of how famous people can influence the market. I've never believed it would hit 0.1$ let alone 0.7$, had some doge and sold at 0.07$.
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You and me both, my friend.
Each time anyone with rational experience in the markets says that this is the top for Dogecoin, it just keeps pushing higher still.
Who knows how high it's eventually going to get.
Selling your Dogecoin at 7c was actually still a really good trade.
What was that, still at least a 10x trade?
Great work :)
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I bought them as a meme, got me 10$ in plus. Good trade