Question about Dogecoin

Digitly

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Unlike Bitcoin, it doesn't have a Cap. What is the value then?
 
I'm not really into crypto, but 85% ROI is 1 day seems like a goldmine
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A Joke now worth more than $ 40 billion plus...
 
i dont have doge, but on a glance, i would say the value is in:
A) the community around it. its rather big and they radiate hope.
B) elon musk tweeting about it every now and then. that's rather powerful.

that seems to be it for now. at the end of the day, 1 perfectly valid way of trading crypto is buying stuff others will want to buy before they do, and selling before they stop wanting it, independently of that stuff being a good product.
 
Obviously the coin is selling a "dream".
Millionaire dream.
And Musk is pumping that dream harder. As soon as the whales start to cash out we will see a huge drop.
Or if Musk stops twitting about it for a long time it will still drop.
Or if another coin appears (like Safemoon or Elongate) and the hype moves from Doge to them, it will drop again.

So basically the coin is worth $40B due to Elon, Millionaire dream and hype of moment!
 
It’s a joke coin. No real value. It’s great if you are part of the pump and dump discord channels otherwise you are just the sucker they are getting rich off
 
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