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It's because a handful of rich pricks are artificially inflating prices by hoarding coins with hundreds of millions of dollars.
Doge is the best tool to siphon money out of the hands of the poor into the hands of the rich because there's no way for a single investor to impact the market unless they have the insane amounts of money to do so.
If you invest in doge, beware the pumpndump. Prices will jerk higher momentarily, and then plummet 25-50% within a few hours to days. -
@endor it's almost like playing slot machines is a terrible way to make money.
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@AlgoRythm but doge is the joke coin that is supposed to be worthless anyway... And yet it's still around?
Btw thought you were anti-crypto? -
@donuts I am but Doge isn't terrible just based on a large amount being produced forever. There are better criticisms of DogeShit such as it being useless as a currency and having no value outside of a new flavor of casino game
How the ...
This is even the description on Coinbase and still...
About Dogecoin
Dogecoin (DOGE) was created in 2013 as a lighthearted alternative to traditional cryptocurrencies like Bitcoin. The Dogecoin name and Shiba Inu logo are based on a meme. Unlike Bitcoin, which is designed to be scarce, Dogecoin is intentionally abundant — 10,000 new coins are mined every minute and there is no maximum supply.
Keep in mind
Unlike Bitcoin, which is designed to be scarce and resistant to inflation, Dogecoin was created to be abundant. There are about 130 billion DOGE circulating, and miners produce another 10,000 every minute.
rant