Why? In everyday setting, people lose their money by misplacing or sending it to the wrong place and so forth. U need a coin that can replace lost amounts. Initially, when crypto is use in mass, people will send it to the wrong address, lose their wallets, wallets are hacked, coins are burned and so many other ways. That is why Dogecoin 5 billion new coins added every years works very well as everyday coin. This inflation rate actually shrinks as the supply becomes larger. Take example currently 5 billion from around 115 billion supply is around 4%, but as the supply becomes larger, the same 5 billion new coins/ year will actually is less in percentage of the whole amount. Think in the year there's 200 billions, the percentage than will be 2.5%. So it would work in economic wise very well. The price will even increase, since the percentage is less and less.
Dogecoin is the only one to really do this. It is becoming more recognized as the very few coins of the 100 list that still gain grown or stay it's grown when Bitcoin price drops. So it has a name the people in the industry already know. Is in right time as the cryptocurrency investments are tighter now. The smaller fries can afford this low price currently at less than a penny and still hold a dream to be rich.
Dogecoin is so much or a coin of the people. U see because it is so cheap more people is willing to buy it, hold it and even use it. If there is more people in it, then the chances are they will use it. The more that happens the more demand and supply. This may be a start of consumer side of new phase of cryptocurrency. So I would say highly recommend to hold long on this or at least keep some if shorting.
It is on the side of the developers to create Dapps, that can bring the users. Or a purpose, one way people come is if it makes money.
** Disclaimer This blog is based on my opinions. I am not giving professional advice. Anything written here should be taken as an opinion and is the responsibility of the reader to take due diligence as such. Basically saying I may be wrong, right or neither, just saying its my opinions and my voice.