What is the effect of global inflation and the devaluation of fiat currencies on investor interest in Dogecoin?

Global inflation and the devaluation of fiat currencies can significantly affect investor interest in Dogecoin and, consequently, its dogecoin price. When traditional currencies experience a loss of purchasing power, investors often seek alternative stores of value or assets that are perceived to be resistant to inflation. While Dogecoin has an inflationary supply model itself, its decentralized nature and limited correlation to traditional markets can make it an attractive speculative hedge for some. During periods of high inflation, a portion of investors might look to cryptocurrencies, including Dogecoin, as a way to preserve or even grow their wealth outside of the traditional financial system. This increased demand stemming from inflationary fears can drive up its price, although its volatility means it's also a high-risk option in such scenarios.