It's very interesting to see how bubbles plays out. I do think cryptocurrencies are real and have big potential, but after seeing likes tron, verge, and doge, I also believe the current valuations are biggest bubbles of our lifetimes. Yet, you see people justifying ~10b$ valuation on the premise of a whitepaper written with broken english, then partnerships that are merely vaporware (remember iota announced msft partnership, yet it was more like iota was using azure products).
Interesting times. Just play into people's irrational decisions and you'd make big bucks.
If someone figured out a way to peg the value of crypto to some other big currency that would have potential - but then the speculators wouldn't be making 10x.
I wouldn't be surprised if a high transaction fee increases the speed of deflation. Smaller transactions are stuck and will be forgotten. Spending the currency is difficult. All you can do is hold or convert to fiat.
Just clarifying for uninitiated: doge coin is a "joke currency" (literally) that has a huge market cap anyway. https://en.wikipedia.org/wiki/Dogecoin
For blockchain based coins, bitcoin-ng does provide ways to improve current way.