Paying 1200+ sats for 1 doge is not value for money.Dogecoin was a meme created to make fun of the rest of the altcoin space. If you look under the hood you'll see why.
It's not secure, it hasn't scaled and it's unlikely to become the base of a new decentralised economy. It's a fun novelty token that there will always be more of. There is no believable way to cap the issuance of doge, which means paying 1200 scarce and finite sats per doge doesn't make sense (there will only ever be 2100 trillion sats). It currently has a market cap of nearly $90 billion compared to Bitcoin's $1025 billion, making it almost 1/10 the size of Bitcoin.
Two research questions worth exploring to understand doge vs Bitcoin are (1) who controls consensus and what's stopping them from changing monetary policy and (2) what incentivises and distributes security (why is it that dogecoin relies on merged mining with litecoin).
Doge was initially succesful because it helped people understand and play around with cryptocurrency. However it has fallen very far behind and is genuinely much harder to use than Bitcoin. Simple stuff like running a node - Off the top of my head I can name atleast 3 operating systems for running a Bitcoin node (umbrel, mynodebtc, raspiblitz), which makes empowering yourself to be your own full Bitcoin node incredibly easy. Then there's the wallets, I've searched through the dogecoin subreddit to find any mention of an easy to use doge wallet and most of the replies are directing people to use an exchange (which reflects the current speculative nature of the doge holders, rather than being actual users). A common saying in Bitcoin is that if it's not your private key then it's not your Bitcoin, the same applies to doge. When it comes to Bitcoin there are so many options with many user friendly and advanced mobile wallets for new users, like breez, blue, green, sideswap etc, that integrate Lightning or Liquid (two examples of Bitcoin scaling solutions). Not to mention all the secure Bitcoin only hardware wallets like coldcard and jade, or privacy enhancing wallets like wasabi or samourai, or the multisig wallets like sparrow or specter.
Finally there is a misconception in the market that Bitcoin hasn't scaled - that's just false. Sending a couple sats instantly and cheaply between two people has never been easier. It's significantly faster and cheaper than doge. There is an entire microtransaction economy booming on Bitcoin right now. It doesn't make sense to be betting on dogecoin when it's so overvalued relative to bitcoin. Sure it will probably still retain some USD value going into the future, it might even continue to go up in USD terms. However when it comes to sats, doge is incredibly overvalued.
Dogecoin / Bitcoin
0.00000166BTCR
0.000000000.00%
As of today at 11:06 GMT
BTC
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DOGEBTC trade ideas
Doge on first resistance ! Bubble will burst ! Hello everyone this is just a quick information that Doge hit first resistance at 141.8 fib and from here we can see a pullback. But final target remains at 161.8 fib. On top of that its worth pointing that there is a high chance of bubble building UP on Doge.
This information is not a recommendation to buy or sell. It is to be used for educational purposes only.
DOGE TO THE MOON?!Doge is a meme cryptocurrency that is the hottest and quickest movement. I’m already selling this coin when he hit the resistance level that I draw the line, and I just realized it is a bullish trend line? So yes, the answer is if they break the resistance and no if they did not violate the resistance alias false break. That’s why I decided to sell and will re-enter if the resistance breaks out. My target price is 0.00001081, as shown in the picture above, and gonna enter 10% from the resistance.
The Dogefather Doge is the biggest bag i own in crypto and is waiting for 1400 sats
on 8th may seems to be the date when the trend-line meets the 10.618 perfectly
the previous top was also nailed perfectly by the 10.618
i spent all my BTC at the dip to buy more doge
currently doge is sitting at the 666 Satoshis just like my TV follower count :) thats funny..
doge is crawling up printing a ascending triangle.. once we break through the resistance this should explode
DOGE/BTC / I might be delusional In the past couple weeks I've been looking at doge move, regretting I didn't take all the positions I would see on TA.
The whole story around it as a meme coin is scaring me off.
But I keep seeing it move in patterns, I see these Elliot waves in Elliot waves in Elliot waves, but maybe I'm just tripping.
It's just that when you start to analyze other timeframes and everything it all looks like this perfect scenario... but it's still a meme... right?
