Recently, a user on Twitter explained what will cause the price of DOGE to rise.
Billy Markus, who tweets frequently about Dogecoin (DOGE), recently participated in a Twitter discussion about DOGE. The burning of DOGE, like the token’s rival SHIB, came to the fore in this discussion. The issue of bringing such an application to DOGE was discussed. This application was rejected by users. Later, a user directly asked DOGE co-founder Billy Markus what the decision was to burn DOGE, and Markus replied.
DOGE Won’t Follow SHIB
DOGE co-founder Billy Markus said that everyone is burning tokens but still DOGE “goes to the moon.” Markus, who is known to be quite ironic and even sarcastic when it comes to answering questions on the Internet, responded in the same way. It seems Billy Markus has said that DOGE will not follow SHIB’s example and that any incineration mechanism by the project’s team is not on the agenda.
Does DOGE Need To Be Burned?
If we look at the example of the Shiba Inu, we cannot say that burning is a panacea for high inflation. If we look at the data from the Shibburn portal, a total of 750 million SHIBs were burned over the past week. This burning would be a ridiculous practice for several million dollars worth of tokens.
By contrast, the current total number of DOGE is 132,672 billion, while all SHIBs are under 550 trillion. Meanwhile, Dogecoin’s capitalization is $3 billion higher than the Shiba Inu (SHIB), which is almost 50% higher than the Shiba Inu’s total value.
9650
