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DOGE Dogecoin co-founder joked about a $1.2 trillion coin purchase plan, sparking controversy over stimulus checks in the United States
As discussions intensify over the U.S. government's plan to issue a new stimulus check of $5,000 to every adult, Dogecoin co-founder Billy Markus-better known as "Shibetoshi Nakamoto" on the Internet-made a humorous suggestion. He half-jokingly suggested that $1.2 trillion should be used to buy Dogecoin, which triggered easy interaction and heated discussion in the cryptocurrency community.
Stimulus check proposal faces review
The latest stimulus plan proposes a one-time payment of $5,000 to every American adult. However, several economists have warned that the measure may have little effect on easing pressure on the cost of living and may instead exacerbate inflation in the coming months. Economic experts often criticize direct cash transfers to consumers as having inflationary effects, fearing that increased spending power could push up prices in the overall economy.
Recent data from the Conference Board showed that the short-term outlook for U.S. consumers became increasingly pessimistic in August. At the same time, the University of Michigan consumer survey also found that consumer sentiment deteriorated further due to concerns about continued high inflation. Direct disbursement of money to consumers is often seen as inflationary and could drive up prices, undermining the economic boost that stimulus checks were supposed to achieve.
Dog coins and "trillions of jokes"
Billy Marcus is known in the cryptocurrency circle for issuing humorous insights on current affairs. His latest idea to buy Dogecoin for $1.2 trillion is seen as a playful response to stimulating the check debate rather than a literal policy recommendation. Marcus pointed out that such a huge purchase volume will far exceed the current market value of Dogecoin.
Currently, Dogecoin ranks 11th among cryptocurrencies by market value, with a total value of approximately US$13.24 billion. Its circulating supply reaches 155.88 billion DOGE units, which means that with current supply and value, a $1.2 trillion purchase plan is not feasible in reality.
Dogecoin was originally created in 2013 as an easy alternative to Bitcoin and has now grown into one of the digital assets with a passionate community. The token is known for its iconic Shiba Inu emoji brand image and its open supply model.
Analysis of the inflation structure of dogcoin
Although there is theoretically no maximum supply limit for Dogecoin, its annual circulation is fixed at 5 billion pieces. This design is designed to prevent excessive expansion of supply and ensure that Dogecoin's inflation rate falls predictably over time. Every year, as the total supply increases, the proportion of new coins entering circulation gradually decreases relative to the existing total.
Marcus's joke seems to emphasize this characteristic, pointing out that Dogecoin's declining inflation rate makes it unique in the ongoing currency debate. It is worth mentioning that the Conference Board is a non-profit research organization that provides economic data and analysis, including the U.S. Consumer Confidence Index.
Dogecoin co-founders emphasized that a $5,000 stimulus check could be "inflationary" when we don't need more inflation.
Dogecoin price trend
In recent market transactions, according to CoinMarketCap data, the trading price of Dogecoin was US$0.0849, a daily increase of 1.75%. Whether it's serious comments on economic issues or the relaxed moments of people like Marcus on social media, Dogecoin continues to attract public attention.
