Why is this coin pumping up recently? I thought it was a joke coin with unlimited inflation.
It's almost completely mined out, the remaining block rewards are very low so the miners can't dump the price down much. If the miners can't dump doge can pump.
Plus I recall someone mentioning how probably billions of dogecoin have been "lost" or burned over the years. I'm guessing there is a lot less dogecoin available than people think.
At it's lowest point in value people were asking if it was dead, and people get careless with backing up wallets of a "dead" coin. You're right, there are probably billions of lost coins.