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
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