This will send DOGE to moon, according to Dogecoin founder
In another round of discussion on Twitter about what will help the price of Dogecoin, the topic of burning DOGE, as exemplified by Shiba Inu by the coin’s main competitor, SHIB, came up. The possibility of deploying such a mechanism for Dogecoin was discussed previously and the idea was rejected, but one of the discussion participants still asked Dogecoin co-founder Billy Marcus directly about Doge. What was the decision about burning it, and they responded.
Marcus stated that everyone burns all their coins first, and then DOGE “goes to the moon.” Of course, he said it in a joking manner, as the co-founder of Dogecoin is known for his ironic and perhaps even sarcastic remarks when it comes to arguments about who is wrong on the Internet. It seems that Billy Markus once again made it clear to the Doge army that DOGE is not going to follow the example of SHIB, and no burning mechanisms are considered by the project team — at least not yet.
Does DOGE really need to burn?
At the same time, looking at the example of the Shiba Inu, it can be said that in fact burning is not a panacea for high inflation. If we trust the portal’s data ShibburnIn the past week, a total of 750 million SHIB were burned, which is simply ridiculous considering the multi-trillion-dollar supply of tokens.
In comparison, the total number of existing DOGE is 132.672 billion, whereas all SHIBs are under 550 trillion. Meanwhile, Dogecoin’s capitalization is $3 billion higher than that of Shiba Inu, which is almost 50% higher than the total value for the latter.
Of course, with so many tokens, it is still hard to imagine that DOGE will be worth $1 as it has a capitalization of $130 billion. Nevertheless, the crypto world remembers that about a year and a half ago the coin reached $ 0.73. While there are no plans to burn DOGE just yet, it will be interesting to see what the developers of Dogecoin can do to close the gap of a quarter of a buck for sure in the next bull market.
