Dogecoin (CRYPTO: DOGE) has a market capitalization of $30.33 billion and is the sixth-largest cryptocurrency as of press time.
The Shiba Inu-themed cryptocurrency has found love from retail investors and celebrities like Tesla Inc (NASDAQ: TSLA) CEO Elon Musk alike. Yet, the technical soft underbelly of the cute Shiba Inu has also earned fierce criticism. Here are three points of contention between DOGE loyalists and detractors.
DOGE Supply: As of the writing of this piece, DOGE had a circulating supply of nearly 130.16 billion coins. Contrast it with the apex cryptocurrency Bitcoin (CRYPTO: BTC), which only has a circulating supply of 18.74 million coins.
See Also: How To Buy Dogecoin (DOGE)
DOGE supply rises by about 5 billion per year. This high supply is often held against the meme coin, but has been cited as an advantage by Musk.
“Doge appears to be inflationary, but is not meaningfully so (fixed # of coins per unit time),” said Musk in February.
Dallas Mavericks owner Mark Cuban also theorized the supply is not a limiting factor. He said, “Any asset that has inflation by definition is 'infinite' [but] that doesn’t …