Recently, due to Elon Musk’s tweets, the Dogecoin Cryptocurrency Token (DOGE) increased enormously in volume.
Musk, who dubbed Doge “the crypt of people,” initially began tweeting in early February about the virtual currency. At that time, Doge’s market share of $40 billion has risen by up 5,000 per cent.
Dallas Mavs creator, and ‘Shark Tank’ investor, Mark Cuban, proposed that the host Ellen DeGeneres use the meme currency as a payment for her show merchandise on Tuesday after another billionaire. The digital commodity rose.
“We sell a lot of goods to Dogecoin on Mavs and you ought to be looking at it in the shop of Ellen. You guys could sell dogecoin all kinds of things,” said Cuban.
In the mean time, CoinDesk pointed out that Cuban did not mention risk factors associated with the cryptocurrency in reference to Cuban’s “The Ellen Show.”
Cuban answered by tweeting that “every asset that has inflation is ‘infinite’ by definition [but] does not decrease inflation.”
He stressed also the growing supply aspect of the cryptograph, noting that ‘this changes the usefulness of future digital currency from a store of value. It is the fact [no more than 5 billion per annum] they are building that holds the price per coin down, making it more affordable.”
In other words, the Cuban’s point is that the Doge has no supply cap or a limits of the amount of coins that Bitcoin would allow, unlike the float-availability deflation risk.It means that the inflation supply rate steadily and reliably decreases, and that Doge can use the market in a more convenient fashion and thereby be used conveniently as a money to buy and sell goods and services, provided his factor in growth rates predictability.
DOGE was 12.37% higher on day at $0.30 for the last trade.