Surprisingly doge is holding in there at 32 sats, which is about what it was at when I previously posted in this thread. I hadn't checked its price recently (just did) and I would have figured that it dropped along with bitcoin over the last 24 hours. Guess not.
That's the beauty of Dogecoin. Its relatively stable price, allows anyone to perform day trading with ease. I'm often a fan of Dogecoin because it's much cheaper to acquire than Bitcoin, and most of all, faster in transaction processing times. Being one of the oldest altcoins in existence, it has performed well after all these years. It's quite impressive for a cryptocurrency that once started as a joke. Maybe someday, the original DOGE developers (or another development team) will take charge of the project to make it great again.
With the decentralized and open-source nature of crypto, anyone can continue improving the project for the better. No one knows when Dogecoin will make a comeback, as there are other cryptocurrencies which are much faster and cheaper than it. There would be no reason to continue on an old project, when there are hundreds of other projects that are superior than Dogecoin today. But who knows? Maybe there's hope for Dogecoin to make a comeback after all. In the meantime, Dogecoin will serve as a speculative cryptocurrency across the crypto market. Of course, some people will use it as a daily currency for micropayments or even day trading. But I believe that Dogecoin needs to make a comeback in development to remain relevant within the crypto space for the foreseeable future. Just my opinion
Yeah, doge might be the closest thing to a stable coin that a crypto can get without it actually being pegged to a currency. It hasn't varied much between 20-30 sats in a long time. The supply thing should make it decrease in value the way I see it, but that doesn't appear to be the case. And yes, there are a *lot* of doge in circulation and there's no cap on how many coins are going to be made. I'm really baffled that its managed to not go to zero.
Yes. Dogecoin has managed to be quite a stable cryptocurrency after all these years. It's not as valuable as other coins on the market, but it's still useful for many things in life. People can use it for micropayments, or day trades. Just like you, I'm surprised that DOGE hasn't gone to zero in price, after being abandoned by its developers. Other altcoins that experience the same situation of Dogecoin, tend to become worthless over time. I guess that what has kept Dogecoin alive is the community supporting it every step of the way. After all, Dogecoin has one of the most friendliest communities in the crypto space. Dogecoin supporters are very active, as you can see in the official Dogecoin Reddit page.
Nonetheless, I hope that Dogecoin makes a comeback in development someday so that it could be compared to the likes of prominent cryptocurrencies like Bitcoin and Ethereum. If it stays as is, it'll be considered an obsolete cryptocurrency in the Blockchain industry. Besides, there are many other altcoins that are much faster and cheaper than Dogecoin. Without its community, I believe that Dogecoin would've failed already. Luckily Dogecoin is still alive, and could survive many years from now as people continue to support it every step of the way.