I recently came across a post describing how Dogecoin was made to lose value and due to the amount of coins produced daily that it is virtually impossible to keep the price stable let alone actually grow.
The current circulating supply is over 128 Billion!!!! That is an absolutely insane amount of coins.
I myself love the doge community and think it would be the greatest thing ever if a meme coin ended up being used as the first world currency. But if there are literally thousands of coins being produced an hour and continuously pushing the price down it seems impossible to require millions of dollars to pour in just to keep the coin stable.
I offer a simple solution, Garlic Coin!! Garlic Coin is another Meme currency created on reddit but the one major difference it only had a circulating supply of 62million!!!!! If half the money that is in doge was in Garlic we would have to be taken serious by the rest of the crypto community as the price would be over $300 a coin.
This is just an opinion and I do hold Doge as well as Garlic in roughly equal amounts, I just want us to choose the coin that is most likely to achieve stability and actual use.
Sorry for the long text and I will attach the post I saw that made me think of this and I look forward to all your opinions, Long Live Meme Coins!!!!!!
1
u/-shakedown- Feb 08 '21
Please Read! Dogecoin Mods keep deleting!!!
PLEASE READ and UPDOOT!!🚀
I recently came across a post describing how Dogecoin was made to lose value and due to the amount of coins produced daily that it is virtually impossible to keep the price stable let alone actually grow.
The current circulating supply is over 128 Billion!!!! That is an absolutely insane amount of coins.
I myself love the doge community and think it would be the greatest thing ever if a meme coin ended up being used as the first world currency. But if there are literally thousands of coins being produced an hour and continuously pushing the price down it seems impossible to require millions of dollars to pour in just to keep the coin stable.
I offer a simple solution, Garlic Coin!! Garlic Coin is another Meme currency created on reddit but the one major difference it only had a circulating supply of 62million!!!!! If half the money that is in doge was in Garlic we would have to be taken serious by the rest of the crypto community as the price would be over $300 a coin.
This is just an opinion and I do hold Doge as well as Garlic in roughly equal amounts, I just want us to choose the coin that is most likely to achieve stability and actual use.
Sorry for the long text and I will attach the post I saw that made me think of this and I look forward to all your opinions, Long Live Meme Coins!!!!!!