Here’s what you need to know about Dogecoin inflation

The Dogecoin pump of 100% in the past week has got the crypto industry excited, but new tokens like EverGrow are challenging DOGE's long-term investment prospects.

For anyone buying Dogecoin to beat inflation – did you know DOGE is inflationary?

The Dogecoin supply increases by 5 billion DOGE each year, which goes to Dogecoin miners. This means the price of Doge should decrease by 4% in price each year. While Dogecoin price pumps might be dramatic in the short-term, many projects are questioning how successful this will be a few years down the line.

Elon Musk praised Dogecoin for being 'inflationary'

One of the reasons Elon Musk likes Dogecoin is because of its inflation. During a podcast interview this summer, Musk said that since DOGE was inflationary it should help to keep it at a stable price. 

Musk said this was necessary to make Dogecoin a currency of the Internet. For example, the problem with Bitcoin adoption in daily life is that most BTC holders want to wait until prices rise before selling off their position.

You wouldn't buy milk or oranges with Bitcoin if next year BTC goes up 100% in price. But you might buy with Dogecoin if you can expect the price to be the same next year, and the year after. Did you know this about Dogecoin

How EverGrow is building an investment token AND an ecosystem

EverGrow is a hyper-deflationary token designed to constantly increase in price. It's worth just $0.0000001 right, but it is burning so many tokens each year that it is predicted to hit $1 within the next 20 years.

But EverGrow also wants to build a DeFi ecosystem powered by cryptocurrencies. So how can it do this with a token set up for long-term holding?

The answer is through a DeFi ecosystem never before seen in finance. EverGrow holders had their first glimpse of this future in September when the LunaSky NFT marketplace dropped. It was the first time that 100% of revenue from a cutting-edge application is given back to its holders. In this case, all revenue is used to buyback and burn EverGrow.

Minting on NFT can be done with top tokens like BNB or BUSD, as well as Ethereum, Avalanche, Polygon and Cronos. You don't need to hold EverGrow to use the platform – but if you do, you'll be benefiting from artificial price pumps.

EverGrow currently has $250,000 saved up from the LunaSky launch to start burning EverGrow.

The burn will be fully realised before the end of the year, and could turn EverGrow into an even more lucrative investment than Dogecoin over the short and long-term.

Read more about EverGrow: https://evergrowegc.com/