Elon Musk recently defended Dogecoin's inflation rate on X (formerly Twitter), stating that 'its smooth inflation is a feature, not a flaw.' This statement was in response to a tweet by Dogecoin co-founder Billy Markus. Markus mentioned the controversy surrounding the inflation model while explaining how to adjust Dogecoin's tokenomics to developers.
Unlike the limited supply of Bitcoin or Ethereum, Dogecoin adds 10,000 coins every minute, leading to a continuous growth in total supply, while the relative value of each coin is gradually diluted over time. Markus is exploring adjustments to this economic model through developer voting, but this has sparked considerable controversy.
Musk has clearly expressed his support for the existing inflation mechanism, viewing it as a core feature of Dogecoin. He has always been an active advocate for Dogecoin, often speaking out for it on social media. Musk has even collaborated with Dogecoin developers to explore its potential as a means of actual payment.
This indicates that, although Dogecoin's inflation model differs from other cryptocurrencies, Musk believes this design actually gives it the potential for stable growth, rather than being a disadvantage.
As for whether the 'Musk-themed Dogecoin puppies on Ethereum chain can become the next Shiba', it depends on market acceptance and future developments, believe it or not.
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