Most people hear that DogeCoin has an unlimited supply so they think the value can never go up. But that’s wrong.
Take the USD as an example; they printed TRILLIONS of dollars in 2020 and they can print as much as they want, whenever they want. And with the more money printed, the higher they raise prices.
DogeCoin on the other hand will only print 5 billion new coins a year and it keeps decreasing annually to less coins. Eventually, a long while down the line, there won’t be new coins coming out. New coins only come out to keep up with normal inflation as opposed to the govt deciding when and how much they can raise prices.
Now coins like Bitcoin and most others have a set amount of coins so no new ones come out, ever. This means since they are rare because we’ll never have more, the more people that want to buy it, the higher the price gets per coin.
This makes it unrealistic to buy everyday goods and services with.
To send $5 to someone would be about .00015625 btc. (A bit hard to calculate). Not to mention the high fees to send it would cost you additional.
Don’t get me wrong. Bitcoin serves it’s purpose as a valuable asset, but DogeCoin serves it’s own purpose as a worldwide currency replacement for everyday purchases. It’s affordable for everyone on earth to own, and we’re a light hearted community who do our best to (D)o (O)nly (G)ood (E)veryday.
Originally, DogeCoin was made as a joke.
But then it erupted into a movement of people around the world wanting a cheap, fast way to send value to each other. And it’s fun/funny! Some see the funny dog as a joke/meme not to be taken seriously, we see creative free advertisement. And it’s definitely been getting recognition from major brands and companies accepting it as payment. Do you really think DogeCoin is going away when it’s one of the biggest known names in crypto?