Apart from real use case do coins and tokens max supply counts as well? for example lets look at doge coin,its max supply is 280 billion and the circulating supply is 120billion which is presently trading at 0.0026$ what would have happened if its max supply is in millions ?
Then the value of each DOGE will rise. But since the supply is also reduced, the overall market cap of DOGE will remain the same.
i think some coins have way to much max supply which actually affects the coin or token performance as well,coins with low supply will always have better value than having gigantic supply.
A certain token is designed in such a way that it could efficiently support its performance, I mean its use case. DOGE has that in mind for sure. No wonder why it became one of the most convenient options used for tipping or even gambling.
A limited supply does not automatically mean a rise in value. There are so many shitcoins out there burning millions and millions of their supply and yet remain worthless.