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Is there any hope for Dogecoin [covering face R]
If Dogecoin implements deflation, will the price of DOGE soar?
Recently, the Dogecoin circle exploded. One of the founders, Billy Marcus, broke the news on the X platform: Dogecoin is going to deflate! This news is like a storm, setting off huge waves in the currency circle. However, the authenticity of the news is still to be determined and needs to be confirmed by the official.
Deflation, in simple terms, is to make money more valuable. For example, you used to buy a small cake for 10 yuan, but after deflation, it only costs 5 yuan, and the purchasing power of money becomes stronger. If Dogecoin wants to deflate, developers must submit key changes to GitHub, but they must also agree with community members and miners, after all, this is everyone's "baby".
Now, there are about 146.78 billion Dogecoins in circulation on the market, with 5 billion new coins added each year, and the growth rate will gradually slow down. This is different from Bitcoin, which has a fixed total amount. Dogecoin is theoretically in continuous supply. But Billy Marcus said that Bitcoin rules can also be changed, and predicted that Dogecoin may be more reliable than legal currency in the future.
If deflation succeeds, Dogecoin will go from being abundant to being scarce. But whether this will succeed or not depends on the community and miners. What will happen to this deflation adventure? Let's wait and see, maybe Dogecoin will surprise the cryptocurrency circle.
In addition, Musk agreed with the proposal to create TITS on the X platform, saying that the time may have come. If it comes true, TITS may bring powerful application scenarios to Dogecoin and increase its value. At the same time, many whales have been buying DOGE crazily recently. On December 27, a whale spent $90 million to buy it; on December 31, another whale bought 300 million coins at the bottom, worth more than $96 million.
As Trump takes office on January 20, everyone has high expectations for the increase in Dogecoin. With Musk's help, the subsequent hype will continue. Regardless of deflation or not, Dogecoin's future performance is optimistic. Let us look forward to it together. #加密市场反弹