Dogecoin is causing a huge wave in the crypto world!
Is $DOGE going to undergo a deflationary transformation?
Friends, there's big news in the crypto circle again! One of the founders of Dogecoin, Markus, dropped a major bombshell on social media. What did he say? Dogecoin is going to transform into a deflationary currency! As soon as this news broke, the entire community erupted, it was like an explosion.
Deflation, simply put, means that money becomes more valuable. For example, a small cake that used to cost 10 bucks can now be bought for just 5 bucks after deflation! How is Dogecoin going to achieve deflation? Markus stated that the developers plan to modify the code to give Dogecoin a 'slimming plan'. However, this requires the agreement of Dogecoin's community members and miners; everyone has to agree for it to work.
Currently, there are about 146.78 billion Dogecoins in circulation, and every year, 5 billion new members are added. Although this annual increase is fixed, as the Dogecoin family grows larger, the growth rate has been gradually slowing down.
Markus also mentioned that the rules of Bitcoin $BTC are not set in stone; they can be adjusted through discussion. He boldly predicted that Dogecoin's design might even be more reliable than the fiat currency we use now! If this strategy works out, Dogecoin is likely to soar again!
Of course, this is just my personal opinion; let's wait and see how this deflationary drama of Dogecoin unfolds!
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