'Much Cap, Very Deflation:' Dogecoin Creator Issues Limited Supply DOGE NFTs

“If you want a capped dogecoin buy the NFT,” says Dogecoin creator Billy Markus.

What Happened: In a Twitter post shared on Tuesday, Dogecoin creator Billy Markus introduced “Capped Dogecoin” -  an NFT digital collectible of the meme-based cryptocurrency.

Unlike the standard fungible crypto token, Capped Dogecoin has a limited issuance.

Capped Dogecoin - Much cap, very deflation, many tokenomics. Many available!

- Tier 1 is available on Rariable, 420 issued: https://t.co/00wSCeciCB
- Tier 2 is also on Rariable, 3 issued (already sold out)
- Tier 3 is up for auction on @withFND, only 1: https://t.co/1LiijfSvCy pic.twitter.com/JprzxPoaeO

— Shibetoshi Nakamoto (@BillyM2k) June 8, 2021

“Much cap, very deflation, many tokenomics. Many available!” said Markus on Twitter, sharing links to the various platforms where it is available for purchase.

Tier 1 of Capped Dogecoin is available on the NFT platform Rarible with a maximum supply of 420 units.

The NFTs can be purchased for 0.08 ETH, which amounted to $200 dollars at the time of writing. So far, 388 out of the 420 have already been purchased.

The Tier 2 version was also available on Rarible, but with a limited supply of just three NFTs, they are now sold out.

Tier 3 is still up for auction on the Foundation platform, and the one-piece on offer is an exclusive limited edition NFT.

“Tier 3 is the top tier with the most bling - there will only be one issued,” said Markus.

At press time, the largest bid for the Tier 3 Capped Dogecoin was 1.50 ETH or $3,764, according to Foundation.

“No, I didn't cap the cryptocurrency Dogecoin - this is an NFT digital collectible of a capped Dogecoin available on various platforms,” reiterated Markus on Twitter.

The cryptocurrency Dogecoin, on the other hand, is inflationary by nature and has no maximum supply.

The blockchain adds 10,000 coins to the network every minute, and its circulating supply is over 129,95 billion, according to CoinMarketCap.

The meme-based cryptocurrency was trading at $0.336 at press time.