If This Happens, DOGE Might Go To The Moon!

DOGE: There are many arguments about what will help the price of Dogecoin (DOGE). Again in a Twitter discussion for this, the issue of burning DOGE came up, as did the coin’s main competitor, Shiba Inu (SHIB). Here are the details…

Dogecoin investors were hopeful about the coin burn

The largest meme coin DOGE broke a record last year, approaching almost $1. But it has since lost over 80 percent. Therefore, investors are considering factors that could push DOGE’s price back to those levels. The first of these is coin burning. AmkNews.com As we reported, coin burning has become popular especially after the second largest meme coin SHIB. The possibility of embedding such a mechanism in Dogecoin was previously discussed and the idea was rejected.

However, one of the discussion participants directly asked Dogecoin co-founder Billy Markus what the decision was to burn DOGE. Markus, too, answered the question. Marcus stated that everyone burned all their coins first and then DOGE would “go to the moon.” Of course, the Dogecoin co-founder said it jokingly, as he is known for his ironic and perhaps even sarcastic remarks when it comes to online debates about who is wrong.

DOGE does not follow SHIB

It looks like Billy Markus thinks DOGE won’t follow SHIB’s example. Once again, it was clear that the project team did not think about a burning mechanism. So, does DOGE really need to burn? At the same time, by looking at the example of the Shiba Inu, it will be possible to say that burning is not really a panacea. If we believe the data from the Shibburn portal, a total of 750 million SHIBs were burned over the past week. This is a low amount considering the multi-trillion dollar token supply.

By contrast, the total number of DOGEs available is 132,672 billion, while all SHIBs are just under 550 trillion. Meanwhile, Dogecoin’s market cap is $3 billion higher than Shiba Inu. Of course, with so many tokens, it’s still hard to imagine that DOGE would be worth $1. Because this means a market value of 130 billion dollars. Still, the crypto world remembers that the coin reached a record high of $0.73 about a year and a half ago. While there are no plans to burn DOGE yet, it would be interesting to see what Dogecoin developers can do in the next bull market.

Dogecoin Millionaire: Sorry, Buy the Bottoms!

Meanwhile, DOGE is changing hands at $0.07, up 0.2 percent at the time of writing. DOGE ranks 11th with a market capitalization of $9.4 billion. SHIB is in 14th place. DOGE also experienced a growth of 3.5 percent in the last 7 days.

Disclaimer: The articles and articles on AmkNews do not constitute investment advice. AmkNews.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is AmkNews an investment advisor. Therefore, AmkNews and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.

Warning: Citing the news content of AmkNews and quoting by giving a link is subject to the permission of AmkNews. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of AmkNews in violation of intellectual property law and relevant legislation.

Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing amknews.com site 3 months ago.