DOGE is a pretty good currency to use for moving money between exchanges. That is why its used. If BTC had low/no transaction fees and was fast, people would have less incentive to use DOGE.
Overvalued? Its possible but I think the entire crypto market is actually insanely undervalued. I was talking to my financial advisor the other day and he said pretty much 100% of people now are asking him about crypto and are considering putting money in. This seems like it is just the start.
The figure for the .com crash was around a 7 trillion dollar market cap. Crypto is 0.7 trillion today and its more of an international market then the .com days. Easily cypto could 10x in size over the next year or two.
In the end its super high risk speculation. You can figure the entire market is overvalued but there is no doubt that there is money to be made in several sub-sectors of the crypto market.
Overvalued? Its possible but I think the entire crypto market is actually insanely undervalued. I was talking to my financial advisor the other day and he said pretty much 100% of people now are asking him about crypto and are considering putting money in. This seems like it is just the start.
The figure for the .com crash was around a 7 trillion dollar market cap. Crypto is 0.7 trillion today and its more of an international market then the .com days. Easily cypto could 10x in size over the next year or two.
In the end its super high risk speculation. You can figure the entire market is overvalued but there is no doubt that there is money to be made in several sub-sectors of the crypto market.