Quote from: Ozero on January 31, 2023, 04:49:53 PM

I don't think that Dogecoin is currently a good investment in this market in terms of making a profit in the future. This is evidenced at least by the fact that with the current slight increase in cryptocurrency prices, the price of this coin did not rise by the end of the past year to the projected price of $0.11, but remains only at the level of $0.09. Like bitcoin, this is a general purpose coin, without any additional useful features. But Bitcoin wins primarily due to its popularity, and against its background, Dogecoin has no chance of achieving good price performance in the long run.

Many people believe they're going to get rich quick with Dogecoin without truly understanding its economical model. A coin that was designed to be inflationary, cannot retain high prices for a long time. DOGE has billions of coins in circulation with new ones being added to the blockchain every day. What's been driving its prices to the moon has been Elon Musk with his tweets. But it seems to me that hype is fading away, as investors move on to the next big thing in crypto.

One thing for sure is that Dogecoin's creators never intended people to use it as a serious cryptocurrency for daily payments. While I believe it will survive in the long run, market prices won't rise that much compared to other cryptocurrencies such as Bitcoin and Ethereum. Crypto was never about the price anyways, so as long as DOGE works as intended, we should have nothing to worry about. Just my thoughts Grin