Do you know why is Dogecoin so cheap? Dogecoin is cheap because the total number of coins in circulation is astronomically large.
Currently, the total number of Dogecoins in circulation is 130 billion. Every minute the miner adds another 10,000 coins to the Doge network. At this rate, 5.256 million coins are added to the Doge network annually.
The total supply limit of Bitcoin is 21 million, so far 18.5 million coins have been mined and the last Bitcoin will be mined in 2140. Compared to Bitcoin, Doge's supply is 7,000 times higher.
Assuming the price of Dogecoin will increase to $ 1 / coin (more than 10 billion coins) in the next two years, the market capitalization of Dogecoin should be (130 + 100) billion x $ 1 / coin = $ 140 billion. .
Bitcoin has a market capitalization of approximately $ 100 billion ($ 1 trillion). Assuming that Dogecoin is the largest cryptocurrency in the world, its price will not exceed $ 10 per Doge.
Ignoring the inflation of Dogecoins, for a Doge to reach a market capitalization of $ 1 trillion, the price of each coin would be ($ 100 billion market capitalization) / (130 billion coins) = $ 7.69 / Dogecoin.
However, if it takes four years for Dogecoins to reach a market capitalization of $ 1 trillion, the price of each coin will be $ 100 billion / 150 billion coins = $ 6.66 / Doge.
Therefore, even if Dogecoin becomes the most popular cryptocurrency in the world, the price of Dogecoin will not increase to $ 10 per coin. To know more about why is dogecoin so cheap you can visit the given link.
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