Prediction for dogecoins..

About dogecoin

Dogecoin has taken the altcoin scene by storm since its inception in late 2013. Born from a meme involving Shiba Inu dogs, the digital currency has benefited from its vibrant and accessible community. Several notable press mentions have helped to raise its profile, and it has even helped fund the Jamaican bobsled team for the 2014 Winter Olympics. Can the feel-good factor last? Who knows.

                                                      

I hope so too ipanks, I remember doge was 300 satoshi when it was launched and now its trading at 22 satoshi. Thats a 99% reduction in the price since the early days of the altcoin. I'll be happy if the price could reach 35 satoshi before the end of this year. But with the limited supply which INRI666 made me aware of I don't know if this would be possible. Lets hope for the best guys So in actual fact I don't think the coin has infinite supply in the real world. It does however have infinite supply based on the algorithm. If the miners eventually decide to stop mining the altcoin then that means the supply of dogecoin will be impacted and might even stop but then there will still be dogecoin in circulation.I also had lot of dogecoins collected from faucets. I kept it on my wallet for long, but finally I decided to exchange it to bitcoin. I don't have dreams that doge price can reach moon. I remember that not long time doge was one of the top coins on Coinmarketcap, now it's only 17th. But I don't think that dogecoin can die. It still have many users, stable price. I think some problems of dogecoin is that coin was created for a Doge meme, but meme was popular short time. Dogecoin transactions is very cheap and fast, but I think coin supply is too big. I confidently predict that the number of cryptocurrencies that are regularly traded and used will radically grow. Their exchange with each other is also likely to grow more intensive and seamless

People need to keep in mind that dogecoin's inflation is set at 10,000 coins per block forever once mined out. As such the inflation amount will reduce each year as more coins exist, unless of course people manage to loose about 5 billion coins a year. The other thing to remember is dogecoin currently has about 5% inflation a week, so anyone dumping it over this news is a bad speculator.

Before this announcement, there were only ever going to be 100 billion dogecoin in existence. Now they just decided that they want a 5 billion doge inflation rate per annum, Thereby decreasing the the value of each dogecoin.

Its somewhat similar to the way that the federal reserve pumps money into the market to increase the flow of capital, the dogecoin foundation wants to increase the flow of dogecoin by increasing the supply and access and decreasing the incentive to hoard.

Dogecoin is one of the most useless coin bringing no innovation on the table. It is like a tip coin and I personally wouldn’t invest even 1$ in it.It was trading at 30 Satoshis in 2014 and 27 Satoshis in 2017. Don’t go by the price of Dogecoin in $ because Bitcoin value has changed a lot from then and now. If you would have bought Dogecoin say in 2014 with 30 Satoshis, then in $ terms as of today you are at 10% loss because if you would have kept the Bitcoin then they would have been more valued.You could use it for trading purpose like a penny stock where you could make easy profits (Losses as well) due to volatile nature. For example even 1 satoshi movement in the coin is 3.7% profit or loss. So people use it for trading purpose alone.

Because of this dogecoins becomes scarce and as a result price gets affected positively because more people might start to deem the coin more valuable because of the limited supply that exist at that moment in time. 

By December 2017 = $0.0012 (after going down below 0.0005, it will stay above 0.0012) By June 2018 = $0.005 (this is a safe bet for DOGE and will never go down below 0.005 again) By January 2019 = $0.008 (it going up slowly but surely) By September 2020 = Anywhere between $0.01 to $0.10. 

Too good to be true?