Dogecoin, The Meme !
While I have no intention of disputing Elon Musk, it's hard for me, at this time, to see Dogecoin becoming a winner by going up while every other crypto is coming down. For one, I don't see anything particularly unique that sets Dogecoin apart from the thousands of other cryptocurrencies out there.
Dogecoin also does not have good supply-and-demand dynamics from an investor standpoint. There are more than 133 billion tokens in existence, and that number is set to increase by 5 billion a year, meaning there's no hope of this token being seen as a hedge against inflation.
Finally, the big thing I think Dogecoin has at least one more leg down.
Not a financial advice
Regards:
The Meme generator himself
Dogecoin also does not have good supply-and-demand dynamics from an investor standpoint. There are more than 133 billion tokens in existence, and that number is set to increase by 5 billion a year, meaning there's no hope of this token being seen as a hedge against inflation.
Finally, the big thing I think Dogecoin has at least one more leg down.
Not a financial advice
Regards:
The Meme generator himself
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.