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I guess sell it. People think it's valuable. Cryptocurrencies are priced not valued. You can't just go Dogecoin is valued at X. Dogecoin is priced based on supp
by aml183 9y ago
I guess sell it. People think it's valuable. Cryptocurrencies are priced not valued. You can't just go Dogecoin is valued at X. Dogecoin is priced based on supply and demand which is saying it's worth $91MM.
- runeks 9y agoAll Dogecoins in circulation are not worth $91m. For that to be the case, there’d have to be people willing to buy all 111 million Dogecoins for $0.000796 each, which is not the case at all. People are only willing to pay this price for a tiny fraction of all Dogecoins in existence; as we go beyond that, the bid price starts approaching zero.
- CamelCaseName 9y agoThe opposite is also true, and not just in assets like stocks but cryptos as well. The price of any asset increases substantially if you try to buy a significant stake.