DOGEUSDT I think we all misunderstood what Elon Musk said

BINANCE:DOGEUSDT   Dogecoin / TetherUS
I think we all misunderstood what Elon Musk said, he did not imply that the value of doge will increase when he said that I will bring doge to the moon, he really sends doge to the moon with spacex :)
So, he is just joking with the jokecoin doge


Not really. If that was the case why would the project be paid for in Dogecoins? He is creating demand for it and trying to push it mainstream.
+2 Reply
@Anmax, Maybe as you said, but is it worth it for a value that is not limited in supply?
@BOTRINGER, the way I see it USD also has unlimited supply (same as all other currencies in the world) and people still consider it to have some value.
There should be some balance between supply and demand. The higher the price of Doge gets the more people will mine it.
With higher supply price will fall and people will start mining something else more profitable. Until some reasonable equilibrium is reached.
Simple economics.
Still with many other coins worth 100s of dollars I feel the upside for Doge is still far greater than downside.
Once the train started moving up from hundredths of cents price (which it stayed at for years) I just don't see it coming back to same levels and dying.
People wouldn't sell their coins for such a low price when they bought them for 50-70 cents. It would be peanuts so makes more sense just to hold on to them in case it ever goes up again. And if no-one sells that low - price will not go that low.
So while a correction to 20-30 cents may still be possible I don't think it can go much lower than that. But upside is possibly still massive.
Just my opinion.
@Anmax, I think the same for usd and other currencies, that's why I think crypto money gains value. If doge will proceed in the same way, it may not be different from usd or other fiats.