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7 Cryptocurrencies Under $2: Dogecoin (DOGE-USD)
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Market Capitalization: $59.3 billion
Dogecoin was originally created as a joke to mimic the rise of Bitcoin, but it has since taken on a life of its own. I wrote about its phenomenal rise recently in
Moreover, Dogecoin has a slightly inflationary token supply structure. This is because the token issues just 5 billion new Dogecoin each year. With a present total of 128 billion Dogecoin, that means the average annual increase is 3.90%. But each year this percentage increase declines as the base denominator rises.
This token supply structure may actually make Dogecoin a useful cryptocurrency for payments in the real economy, as I wrote in my Feb. 8 article. The reason is that economies need a slight bit of inflation, which helps account for both the velocity of spending as well as price increases.