$DOGE has made a big move again! I heard this time they want to play with a new deflationary twist, which is quite eye-catching!
One of the founders of Dogecoin, Marcus, recently made a big announcement on social media, saying that Dogecoin is going to become a deflationary currency. Once this news broke, the entire cryptocurrency community was buzzing, and everyone was discussing it.
Deflation, in simple terms, means that money becomes more valuable. For example, if a small cake used to cost 10 bucks, after deflation, 5 bucks would be enough. For Dogecoin to achieve deflation, they need to change the code, which is no small matter; it requires agreement from community members and miners.
Currently, there are quite a few Dogecoins circulating in the market, with 146.78 billion in total, and an additional 5 billion are added each year. Although the annual increase is fixed, as the total amount grows, the growth rate slows down.
Marcus also mentioned that Bitcoin's rules are not set in stone; they can be changed if everyone agrees. He even boldly predicted that this design of Dogecoin might turn out to be more reliable than fiat currency! If this strategy works out, Dogecoin is likely to become popular again, so let's wait and see!
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