Dogecoin: The Little Dog That Could

 

This article is provided for information and education purposes only and is not intended as investment advice. Readers are encouraged to do their own research and consult a professional before making any investment decisions.

 

 

The Dogecoin cryptocurrency was Founded in late 2013 with branding that played on a cartoon dog. It quickly became a hit among the younger participants in the cryptocurrency community. Based on an internet meme, Dogecoin's founders exploited this brand recognition among their target audience, and it worked! The website Dogecoin.com was first published as a joke, but after it went live the website’s publishers were approached by a developer who offered to compile them a Dogecoin-branded QT client.

Users were so swept up by the Dogecoin phenomenon that many conducted self-initiated advertisement campaigns. Some users got Doge tattoos, and even a Nascar team resprayed their car in Doge after reaching a sponsorship deal with community members. Dogecoin arguably has the strongest, most active, and most united community in cryptocurrency. Their community is also very friendly and welcoming to outsiders, which is very uncommon in the cryptocurrency industry.

They are not a technology leader by any regard, but what they lack in tech they make up for in spirit. That communal spirit drives a high level of trust in the currency. Doge's massive total coin supply allowed investors to become a Dogecoin millionaire with a relatively small investment, which was a novelty to many. Some of these deep-pocketed dogeillionaires have donated portions of their massive holdings to funding projects like clean water initiatives, and in 2014 they helped send a Jamaican bobsled team to the winter Olympics.

During the most recent cryptocurrency bloodbath, Dogecoin was one of the only cryptocurrencies to defy the industry trend. Of the top 20 cryptocurrencies and crypto token securities which are listed as 'coins' on coinmarketcap, Dogecoin was the only one to gain ground against the US dollar. From its all-time low of $0.00021 USD on December 16th 2013, Dogecoin reached an all-time high of $0.01758 USD on January 7th, 2018. That's a whopping increase of 8371.43 percent in just 5 years.

 

 

No matter who you are, or where you stand on Dogecoin's branding, you have to admit that what they have accomplished as a community is truly commendable. They have displayed a level of marketing brilliance that many professional ad agencies would be envious of.

 

Author: Brandon Cheliak

Education Director for DNotes and co-founder of DNotesEDU

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