Dogecoin has a big supply and the dogecoin price was pretty much pumped by Elon Musk,so DOGE is in a bubble,that might pop every moment.
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The high supply is not the only problem (other coins such as Cardano also have this), but above all the fact that around 14.4 million Doge are newly generated per day. It is almost impossible for the price to keep up and not collapse at some point. Doge at 1$ would mean that every day 14.4 million USD would have to flow into Doge, just so that the price can remain stable.
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