Why You Should Buy Dogecoin

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Why You Should Buy Dogecoin

Why You Should Buy Dogecoin (Doge)

Did you know that Dogecoin has gained almost 49% during June? Yep, there are not that many memecoins which can deliver a performance like this. In fact, even the returns from Bitcoin appear insignificant when compared with Dogecoin.

That's a key reason why Dogecoin has managed to become one of the top cryptocurrencies. Normally, memecoins don't last long as they have no use case. However, that's not the case with Dogecoin.

Dogecoin: Inflation Keeps Going Down

For starters, the inflation is fixed when it comes to Dogecoin. Every year, around 5b coins are given to the Dogecoin miners. Also, there is no max supply cap for Dogecoin, but the inflation rate will keep decreasing every year.

As of now, the Dogecoin's circulating supply is around 150b. For this year, the expected inflation rate is around 3%. Over the next 10 years, the inflation rate will drop to around 2.5%.

This means the number of new Dogecoin being released will keep going down over the years. This also means that whenever new coins are released, their impact on the price of Dogecoin will be lower.

According to the Dogecoin officials, the coin has everything needed for a legitimate currency. And if we look around, many big names also support Dogecoin. This includes Mark Cuban, Elon Musk, and many other big names.

However, it's also worth mentioning that Dogecoin is more volatile than BTC and other coins. So, if it really wants to act as a currency, it will need to work on controlling that volatility.

mean, who would use Dogecoin as a currency if it is going to change its value by as much as 49% in a month? Imagine the horror if you bought the Dogecoin and it went down by 20-50%?

So right now, one key issue for Dogecoin is its volatility. But, that's a non-issue for those who want to bet on upside of the Dogecoin.

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