Waiting for Hive to join the alt season.
As we watch $DOGE coin reach new All Time Highs (ATH), we have to wonder when it will be our turn?
Let's look at $DOGE for a moment.
Dogecoin is an open source peer-to-peer digital currency, favored by Shiba Inus worldwide. ~ DOGEcoin.com
Dogecoin (DOGE) is based on the popular "doge" Internet meme and features a Shiba Inu on its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013. Dogecoin's creators envisaged it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience, since it was based on a dog meme. ~ Coin Market Cap
It is a coin that was created as a joke and uses a meme image to represent it as a currency. People in the cryptocurrenct world passed it around like unwanted pennies. Personally, I have 1000 DOGE that I think someone gave to me, which has gone from almost nothing to $600 bucks (as I write this article).
Woo hoo!! Sell!
To understand the craziness that is going on with DOGE right now, you only have to look at the chart.
source : Coin Market Cap
It barely made a blip back in the first bull run of 2017. It was almost all flat lined until a certain rocket owning millionaire started tweeting about it. Who knows why Elon did it, but maybe it was to prove a point about cryptocurrency or his power of influence. Either way, it is proving to be the craziest pump and pump story in years.
DOGE has a circulating supply of 129,475,242,412 coins. Yes, that's 129 thousand million (or 129 billion). And, it doesn't have a max supply. So, right now, there are probably some Asian based coin mining facilities switching over to mine DOGE to quickly get in on this tulip craze. Eventually DOGE has to level out, because it can't keep rising in price.
For perspective, lets talk about Hive for a moment. Hive too doesn't have a maximum supply. It does have limits as to how quickly the supply grows based on what the Witnesses (and Whales) do. But, like all similar no-top limit coins, it has to deal with the overall amount of coins and how that is perceived by those trading it. But, as I write this, HIVE is down to $0.59 and DOGE is up at $0.66. HIVE currently only has 395,840,325 in circulation. In theory, it should be much higher than DOGE, since DOGE doesn't provide any other value than currency exchange.
So, it comes down to one simple thing, if we want to see HIVE reach To The Moon status of $759.79, then we are going to need an Elon Musk sized celebrity to shill for us.
Let the positive energy sing!
More Power to the Minnows!!
Now Playing
Rising Star | dCity | Splinterlands