DOGE TO $10!? Is it possible?

CURRENCY CIRCULATION: Dollar v Doge

USD = 14 Trillion (1.2 Trillion (physical money in circulation) + ~13 Trillion in digital/checking/savings/CDs etc.) Some estimate put is around $20 trillion…factcheck this because I couldn’t find a reliable source (including the Federal Reserve/US mint).

DOGE = 129.57 Billion + 5 billion annually

100X+ difference/gap

IF Doge is adopted as the crypto of choice for daily in-person and online transactions by a large percentage of the world’s businesses then it has the potential to go to $10 or more. Could it hit $100? Probably not. But $10 is a little less than 10% adoption of Doge for all global transactions. (market share) Right now we’re sitting at around 13% of total adoption of all cryptocurrencies overall, Doge is just a small percentage of that total 13% adoption rate globally.

Problem: For $10 Doge to happen, Doge would have to outperform (easier faster cheaper transactions) all other cryptos and the dollar.

The USD would probably still be the reserve currency of the world as long as inflation doesn’t kick in and devalue the dollar.

Why not Bitcoin or Ethereum or Litecoin or any of the other cryptocurrencies? Why Doge?

Popularity, community, low fees, and ease of use make Doge a contender for the top “USABLE” crypto. Doge is easier, faster, and cheaper to use as an actual currency for goods and services than any other crypto.

Bitcoin and Ethereum are more stores of value crypto-coins/tokens. Ethereum transaction fees (gas fees) are expensive. Bitcoin is a very liquid store of value, but perhaps not as practical as Doge for use as a currency due to it’s high price. Bitcoin and Ethereum and probably all TOP 10 cryptos are good stores of value, but we must also look at the popularity factor and the community itself.

The USD is popular globally because it’s been relatively stable (in the short term perception of it’s value). It has a global community of financers, bankers, investors, governments, and corporations that use it for transacting global trade. The popularity and community behind the USD builds trust in the dollar for a means of trade for goods and services.

Crypto works in much the same way, but you don’t need trust in it to transact. You also don’t need banks or other financial institutions to act as a trusted intermediary (middleman) to complete a transaction. Crypto is what’s called, trustless. Not meaning you can’t trust it, but that you don’t need to trust it because it’s cryptographically secure. In a sense it’s unhackable.

This cryptographic security in the public ledger (blockchain) reduces fraud which plagues central banks and other financial institutions.

Crypto doesn’t have that problem. Fees are reduced as a result making it cheaper to transact for goods and services.

Crypto (in general) is more secure because it’s encrypted, faster because it’s digital, easier because it’s peer-to-peer (P2P). more direct, digital and fast, and it’s cheaper to use.

All of this combined reduces fraud, increases security and confidence. That in turn increases trust. That in turn increases value. That’s basic economics.

Yeah, but why is Doge special? What makes it better than one crypto or another? Popularity and community. Like the USD, Doge is more popular, more well known, and it’s backed by an active community of users and developers.

Ok, but why not Ethereum? Ethereum is popular! It’s backed by a great community and has an army of dedicated developers. True, but it’s also currently more expensive to transact. It’s also proof of stake instead of proof of work, meaning middlemen, stakeholders, higher fees…much like the current central banking system. Which goes against the entire point of cryptocurrency to begin with.

Originally, Crypto (Bitcoin) was designed to be a peer-to-peer (P2P) digital currency. Basically a form of decentralized finance (DeFi) allowing P2P transactions for goods and services on a trustless system of trade, meaning you don’t have to have a trusted intermediary (middleman) to conduct the transaction while also charging a fee to do so.

Popularity alone isn’t enough to push a crypto to mass adoption. There has to be some kind of intrinsic value, and that value in crypto comes from multiple factors. Mainly being cheap and easy to use.

Ethereum isn’t cheap (though it’s getting cheaper/supposedly; that’s the accepted reason for ETH 2.0 proof of stake system). It’s also popular and has great community just like Doge. So why couldn’t Ethereum become the world’s crypto? Well, it could. But this is where statistical probability comes into play.

The odds are that the cheapest, easiest, most secure and efficient crypto with the highest popularity and largest most dedicated community will dictate which crypto becomes the world’s crypto.

Bitcoin doesn’t have the same popularity as Doge. Bitcoin is deflationary and Doge is inflationary. Bitcoin circulation is capped at 21 million, some of which is burned/missing. Doge is unlimited in total circulation, but it’s capped at 5 billion per year, meaning it’s circulation flows like a governed faucet, meaning just 5 billion Dogecoins per year.

The US prints/mints trillions of dollars per year. Compare that to Doge at 5 billion Dogecoins annually. (5.256 billion)

Bitcoin and Ethereum will probably be viewed more as store-of-value assets more than actually currencies, and Doge could simply become the go-to crypto for daily transactions. This is just my opinion, but it’s how I see it playing out.

Think of Burger King and McDonald’s, Target and Walmart, Facebook and Twitter, Ford and Chevy. They’re all top two companies in their respective industries. There are a myriad other companies selling the same kind of goods and services within that respective industries, but some are more popular than others.

It’s all about market share. I see Bitcoin and Ethereum as store-of-value assets to put dollars into long term and earn a greater return that any other investment product on the market today. Are they volatile? Sure…absolutely! But that’s normal when you consider this is an emerging and disruptive market.

Make no mistake, all currency is a market…it’s not just something you trade for goods and services. It has value because it solves problems, makes transactions easier, cheaper, and more secure.

That’s what crypto is. It’s what crypto does. It’s what we need at a time when we need it. That’s where the value is.

Dogecoin has what most other cryptos only wish they had. Popularity. Community. Trust. And the best d*** marketing in the world.

McDonald’s became the #1 burger restaurant in the world because it didn’t just make good burgers, it made ordering food easier, faster and cheaper! It also had the best marketing, the highest popularity, and the largest community. The same could be said of just about any top-tier good or service company in any industry.

This is why I think Dogecoin is poised to become the #1 top-tier crypto for daily transactions for goods and services.

Bitcoin and Ethereum I think will be more store-of-value assets, investment vehicles to park your USD in for long term ROI that will probably, statistically yield higher returns than any other investment product on the market.

Dogecoin in my opinion makes more logical sense to be used as a daily digital currency.

Do I see it going to $10? Sure…I think that’s possible…that would put the market cap around $590 Billion. Put into perspective, Bitcoin is about $1.02 Trillion, and Ethereum is about $477 Billion currently which is just a small fraction of the total USD money supply that’s printed annually.

So yeah, there’s plenty of room for Doge to increase in value. This puts Doge at #2 position as a top-tier crypto above Ethereum by market cap.

The question is how long will it take if it does go to $10, and if that happens why didn’t you put money in now?

I’m ALL-IN on Doge because I think it’s worth the risk.

But hey, WTF do I know? I dropped out of school in the 8th grade.

DOGE TO THE MOON!
ALL-IN
Diamond hands, baby!
HODL!

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DISCLAIMER: This is NOT investment advice. Do not use this information for investing. I’m not an expert. I’m just some dude talking s*** about crypto like I almost know what I’m talking about. Don’t take my word for it. Do your own research and due diligence. Don’t invest/spend money you can’t afford to lose. Be responsible. Invest responsibly.