How can doge increase in value if there is infinite availability?
By - rf97a
Ethereum has no cap. Doing just fine.
Same as ETH. #DOGEonlygoesup
Same as "real money" 🤷🏻♂️
The value comes from all of us agreeing on its value... We keep buying it then that's what it's worth
Please educate me
It’ll get value when it can be used places. The US dollar is also technically infinite, but because it’s used everywhere in the country it has value.
I just explained how... Also it's not really infinite, right now it has a limit but every year the limit increases but only by a specific amount. Don't expect a better explanation from regular people... Money works this way, the value is set by something/someone even if it's made up. So all of us buying it just because, that gives it value.
If demand is higher than supply, value goes up.
But there is infinite supply
Yes, but there's not an infinite amount available for purchase today.
There's a set of 5 billion coins mined each year, if more coins are being bought eventually current supply runs out.
There's hundreds of billion coins available today. Have a look at some of the top voted posts this week, they have source material and explain it better.
I also remember that market speculation from last year predicted doge at $1 end of 2021. Maybe 2-3$ in 2025
Anything higher is a dream.
For now you can spend doge on high class venues like pornhub, chaturbate and onlyfans, as well some ventilator and PPE manufacturer accepts doge.
The coin is still gaining momentum. People like the idea of a silly meme crypto. Everyone likes memes. It spreads positivity and laughter. I'm not expecting to be filthy rich with my 18k doge, but I had a lot of fun in the past few days learning about crypto and trading.
Started at $1k, dropped to $500 in a few hours and I'm slowly climbing back up via daytrading doges.
If this is a financial revolution I'm happy that I took part of it.
If it flops, at least I'll try to make my money back, and best case get a couple of years off my mortgage.
Think of it like any other currency. USD, for example, has no cap, but increases to the cap cause infation. The problem with currencies like USD is inflation is also not capped; however, with DOGE a constant amount of currency is added to the supply each year. That means that every year the inflation rate of DOGE will go down since the currency being added to the market makes up a smaller percentage of the available supply. Therefore, as long as people continue to adopt DOGE at a rate higher than the inflation rate, then the price of DOGE will continue to rise.