Despite over $2 million in daily inflation, Dogecoin remains the dominant memecoin as ETF decisions from the SEC approach. Dogecoin holders worldwide celebrate “Dogeday” on April 20, as the memecoin’s community awaits upcoming deadlines for Dogecoin-related exchange-traded fund (ETF) applications.
Dogeday marks the unofficial holiday of the Dogecoin community. It gained traction in the memecoin community four years ago, in 2021, during International Weed Day on April 20.
Despite its reputation as a joke token, Dogecoin remains the eighth-largest cryptocurrency by market capitalization, currently valued at $23.3 billion, according to CoinMarketCap.
Dogecoin’s tokenomics have often been criticized for issuing 14.4 million worth of new DOGE into circulation per day, giving it a daily inflation rate of over $2.16 million.
What is your honest opinion on the future of Dogecoin from hereon?Wasn't there a time when Dogecoin was really congested and sending Doge was like higher than sending BTC? It's probably the time when price was over $0.50 So imagine if the coin blows up again and surpass $1 due to ETF and other factors? I don't think it would be utilized as before. Investors would be happy but regular users would look for cheaper alternatives to transfer funds.
i do not know what other reasons there could be that could blow up doge again aside from elon musk promoting it again by using it on his companies like x and tesla or his other venturesWhat is your honest opinion on the future of Dogecoin from hereon?Wasn't there a time when Dogecoin was really congested and sending Doge was like higher than sending BTC? It's probably the time when price was over $0.50 So imagine if the coin blows up again and surpass $1 due to ETF and other factors? I don't think it would be utilized as before. Investors would be happy but regular users would look for cheaper alternatives to transfer funds.
Dogecoin is the godfather of memecoins. Therefore, it is fitting that it gets its own holiday. And, unlike these cheap wannabe imitations of memecoins, Dogecoin is not a scam and cannot rugpull anyone.
I guess the investor confidence despite the obscene inflation can be explained by the fact that it is whales who govern blockchain monetary policy, not governments, exchanges, or developers.
---I would love to buy some DOGE, but not today despite the 20th of April being the DOGEDAY. I'll just celebrate the day, but I'll only buy the token when we enters the bear market season already.
Happy Dogeday to all hodlers, supporters, enthusiasts and traders of Dogecoin. Just like many of us here, am not really a big fan of memecoins but maybe I am making an exemption of this one though I don't have Dogecoin in my wallets. There is a big chance of this memecoin to explode if SEC will eventually say YES to its ETF formation...and if you think that can really happen why not buy some Dogecoin on its special day today?
What is your honest opinion on the future of Dogecoin from hereon?
I have great sympathy for this coin, considering that it was the first one I encountered in the world of cryptocurrencies, which not only survived to this day, but also has great support from the community.
On the one hand, some criticize its unlimited supply, but on the other hand, I agree with @philipma1957 that miners are the ones who have great credit for this coin being still popular. If mining stopped for some reason, I think DOGE would lose a lot, because let's look at what happened to ETH after it switched to PoS.
As for the ETF for this coin, it is possible that its price will increase slightly because of this, but my opinion is that the price will not explode as some imagine.
I have great sympathy for this coin, considering that it was the first one I encountered in the world of cryptocurrencies, which not only survived to this day, but also has great support from the community.
On the one hand, some criticize its unlimited supply, but on the other hand, I agree with @philipma1957 that miners are the ones who have great credit for this coin being still popular. If mining stopped for some reason, I think DOGE would lose a lot, because let's look at what happened to ETH after it switched to PoS.
As for the ETF for this coin, it is possible that its price will increase slightly because of this, but my opinion is that the price will not explode as some imagine.
There are close to 3.02 ph in miners for doge.
That is 3020th
That is 3,020,000gh
The L9 is the newest miner and it cost over 15,000 usd
It is 17 gh about 178,000 miners for the network if it were fully l9 units you would have 2.3 billion in gear to mine scrypt which is merge mining of ltc and doge
2.3 billion worth of gear.
If it were part l7 and part l9 and some other good units it would be maybe 1.9 billion worth of gear.
That is a ton of money on gear.
Only one network has more gear the sha 256 network has more gear
Dogeday marks the unofficial holiday of the Dogecoin community. It gained traction in the memecoin community four years ago, in 2021, during International Weed Day on April 20.
Wasn't there a time when Dogecoin was really congested and sending Doge was like higher than sending BTC? It's probably the time when price was over $0.50 So imagine if the coin blows up again and surpass $1 due to ETF and other factors? I don't think it would be utilized as before. Investors would be happy but regular users would look for cheaper alternatives to transfer funds.
Happy Dogeday to all hodlers, supporters, enthusiasts and traders of Dogecoin. Just like many of us here, am not really a big fan of memecoins but maybe I am making an exemption of this one though I don't have Dogecoin in my wallets. There is a big chance of this memecoin to explode if SEC will eventually say YES to its ETF formation...and if you think that can really happen why not buy some Dogecoin on its special day today?I used to invest in DOGE and took profits during the 2023 crypto winter, but I'm still a fan of this famous memecoin. This event is of interest to the Dogecoin community, but I don't think it's a good enough reason for me to accumulate more DOGE given my portfolio, I'm a rational investor rather than an emotional one ^^
What is your honest opinion on the future of Dogecoin from hereon?
Happy Dogeday to all hodlers, supporters, enthusiasts and traders of Dogecoin. Just like many of us here, am not really a big fan of memecoins but maybe I am making an exemption of this one though I don't have Dogecoin in my wallets. There is a big chance of this memecoin to explode if SEC will eventually say YES to its ETF formation...and if you think that can really happen why not buy some Dogecoin on its special day today?I used to invest in DOGE and took profits during the 2023 crypto winter, but I'm still a fan of this famous memecoin. This event is of interest to the Dogecoin community, but I don't think it's a good enough reason for me to accumulate more DOGE given my portfolio, I'm a rational investor rather than an emotional one ^^
What is your honest opinion on the future of Dogecoin from hereon?
A spot ETF would be a big target that DOGE could aim for in the near future now that the SEC has a new chairman, Paul Atkins. A spot ETF could be one of the main drivers for DOGE to return to the capitalization race and create a new ATH in this cycle. I can't imagine a cycle lacking a new ATH for DOGE.
I never knew about the DOGEDAY celebration... It's quite great for the Doge lovers. I am willing to add some Doge to my portfolio though as regards to it's ETF news. As this could possibly bring a price favor for the token but I don't want to hold it for a long term because of its meme feature.Great i think day by day your doge portfolio will be healthy. And i strongly believe today or tomorrow you will be huge benefited. Doge is father of all meme coin. And still now his position is strong in cryptocurrency market.
I just guess it's right time for me to start following up news related to Doge so I won't miss out.
I never knew about the DOGEDAY celebration... It's quite great for the Doge lovers. I am willing to add some Doge to my portfolio though as regards to it's ETF news. As this could possibly bring a price favor for the token but I don't want to hold it for a long term because of its meme feature.
I just guess it's right time for me to start following up news related to Doge so I won't miss out.
Wasn't there a time when Dogecoin was really congested and sending Doge was like higher than sending BTC? It's probably the time when price was over $0.50 So imagine if the coin blows up again and surpass $1 due to ETF and other factors? I don't think it would be utilized as before. Investors would be happy but regular users would look for cheaper alternatives to transfer funds.
I don't think this ever happened. If you have used non-custodial wallets, Doge has never charged more than 1 Doge as transaction fees. However, some centralized exchanges, casinos, and other services may charge extra when there is high demand or when the price of Doge increases. Even right now, some casinos charge extra doge as transaction fees while most on the non-custodial wallets always been charging the same amount of doge as transaction fees.
I have great sympathy for this coin, considering that it was the first one I encountered in the world of cryptocurrencies, which not only survived to this day, but also has great support from the community.
On the one hand, some criticize its unlimited supply, but on the other hand, I agree with @philipma1957 that miners are the ones who have great credit for this coin being still popular. If mining stopped for some reason, I think DOGE would lose a lot, because let's look at what happened to ETH after it switched to PoS.
As for the ETF for this coin, it is possible that its price will increase slightly because of this, but my opinion is that the price will not explode as some imagine.