Let’s talk about Dogecoin #doge⚡ . In 2021, I remember clearly that there were 300 million people globally playing with cryptocurrencies. At that time, the total issuance of Dogecoin was 127.3 billion, but it only had 5.3 million wallet addresses. Doing the math, wow, there were over 20,000 Dogecoins piled up on average in each wallet address. Looking at the proportion of people holding Dogecoin compared to the total number of cryptocurrency traders, it was pitifully low, only 0.017%, just a few people genuinely holding Dogecoin. However, that year Dogecoin was quite impressive, reaching a peak price of 0.8 USD, which really caught the eye of many.
Now looking ahead to 2024, the number of cryptocurrency traders has ballooned to 560 million. The total supply of Dogecoin has also increased a bit to 147 billion, and the number of wallet addresses has risen to 7.1 million. Doing the math, on average there are about 20,000 and a few hundred Dogecoins in each address, and the proportion of holders has decreased a bit to 0.012%. That year, Dogecoin's peak price reached 0.48 USD. Although it wasn't as dramatic as in previous years, the market is buzzing that 2025 will be the year for Dogecoin to shine.
I am just pondering and taking bold guesses, by 2025, the number of people globally playing with cryptocurrencies is estimated to be 650 million. The total supply of Dogecoin should be around 152 billion, and the number of wallet addresses will skyrocket to 10 million! By then, the average Dogecoin amount in each address will be a bit less, around 15,000 or so, but the proportion of people holding Dogecoin will rise to about 0.05%. I also think that by 2025, the price of Dogecoin will surge, possibly fluctuating between 1 and 1.6 USD.
Let’s talk about the inflation rate. Dogecoin was initially issued in large quantities, so the inflation rate was naturally high, but as the issuance decreased later on, the inflation rate gradually came down. Now it only increases by 5 billion each year, which is really insignificant compared to the hundreds of millions of people trading cryptocurrencies, the market feels like there is a supply shortage. The inflation rate of the dollar is also decreasing, and we will keep a close eye on how Dogecoin performs in the future.
Looking further ahead, the number of cryptocurrency traders will definitely keep increasing. I estimate that by 2030, the number of people speculating with cryptocurrencies will reach 800 to 1 billion. Especially with Elon Musk, his influence is tremendous; he has over 200 million fans and frequently shares news about Dogecoin, so with his shout-outs, the number of Dogecoin holders will surely increase, possibly reaching 50 million or even 100 million. By that time, even if Dogecoin is issued more, compared to the huge number of holders and market demand, it shouldn't be a big deal, it won't have a significant impact.
In a nutshell: The market for Elon Musk's concept stocks won't be too bad! Recently, Musk's mother has liked and interacted with the puppies community on #twitter twice, so keep an eye on that~
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