Say What?
Dogecoin is really fiat?
Yup, Doge was originally designed as a 'joke' meme coin to operate without inflation controls by virtue there is no cap on how many coins can be mined, meaning the crypto Doge investor mob decides what the value of that inflatable crypto meme world looks like, or should I say do what Elon says?
Unlike #XRP, which is controlled by the private concern #Ripple, #Dogecoin is left to its own devices, sort of.(not really, actually the Whales are having a lot of fun aiming their AI/ML powered Order routers at the buy and sell walls of Doge, skimming profits daily, as they 'outfox' their investor opponents equipped with lesser gear)
Maybe #DOGE, with some competition from other 'lemming' meme me2 tokens and coins will take a hit on its valuation and slide down from its current lofty price heights to well, near zero?
On the flip side, imagine why that slide will not happen and be the end of Doge.
Now imagine El Salvador or Paraguay making Doge legal tender. Such a move would give the current ruling federal government regime some effective control over inflation and the price of the Doge money supply simply thru the 'right'(or left) messaging send by govt propaganda types to the Doge mob faithful.., no printing required, since there is no limit on Doge issuance (money supply). And more governments doing the same thing and their control of the Doge effectively priced 'money' supply wanes.
Nice gig if you can get it, moving DOGE price nexus between buy and sell wall in the 'right'(or left) direction to your own advantage. (Elon says to his NYC masters)
Need Weimar Republic inflation to kick in? No problem. Cause a stampede to Doge by dissing the other stores of values, any way you can, simply by asking a question of your disciples about the 'other' cryptos and their 'true; viability. (Elon talking trash about #BTC). Say the opposite and Doge reacts wildly and heads into a rapid price decline slide as Doge fair-weather investors sell off and by stable coins or something else.
Maybe YoYocoin is a better name Doge? What do you folks think?
Heck, get enough Doge under your control and voila, you as an investor of Whale proportions, can seriously shape the Buy and Sell walls in that market anyway you want, with the right messaging to a big enough audience. (Elon)
Especially if you are armed with AI & ML equipped order routers able to trade at lightning speed to always win gains faster than your competition.
Ok now that we understand the interplay dynamics a little bit more between self-proclaimed/annointed crypto god and disciples as such dynamics apply to the very Wild Wild West fiat world of the Doge digital currency (and the AI/ML tech powering investor buy ad sell action), where Doge is still regularly and often referred to as a 'real' cryptocurrency, we at least know what type of casino hall gambling table we are looking at.
To be informed is to be forewarned, non?
My advice these days is 'get along little Doggies' and, transform and ascend into a sentient, well principled investor being, that is invest somewhere else, especially IF you are not the super high risk super hi reward type of investor, because there will be a down side, there always is, a downside coming to your Doge fiat digital store of value, very soon. If you are not armed with big AI/ML powered order routers and playing at the DOGE table with such Whales, then imo you are playing a very very risky game, especially the short term in/out trader types.