Dogecoin (DOGE): Crypto prices are depressed right now, and most investors are in despair. But there is one community that looks as vibrant as ever, and that’s the Doge community. The doge community on Reddit and other forums is just like always, Happy and playful. In fact the community was recently celebrating cat day on twitter, as can be seen on this tweet.
The reason why the Dogecoin (DOGE) community is vibrant even as crypto prices collapse is because it is holding true to its ideals, and that’s having fun, while exchanging value over the internet. Looking back at crypto in general, Dogecoin is where bitcoin was prior to 2017. Before 2017, most of the people investing in Bitcoin were in it for the utility (buying and selling stuff anonymously) on the internet. Things only changed after the 2017 pump when the “moon” people came, and changed the landscape. This aspect to Dogecoin is great for two reasons.
First, it means that the community will continue to support this coin irrespective of the price, since they weren’t in it for the price to begin with. As such, Dogecoin will remain resilient, even as many other projects that are built around the idea of instant wealth disappear. It is for the same reason that Doge has survived crypto winters in the past, even when the project has gone for long without any technical updates. Were Dogecoin built around the idea of “moon and lambos” it would be dead by now. In essence, the community support that it has sustained over the years will be a key pillar for Dogecoin going into the future.
Second, it serves to increase the adoption of Dogecoin. For instance, right now the Doge community is working on a game called the Doge racer. This game will have Dogecoin integrated into the Dogecoin ecosystem. Such initiatives are not driven in any way by the need for the price to rise, but rather to add to the fun in the Doge community. Inevitably, this will add to the overall value of Dogecoin, and help to support its value, all through the bear run.
From a price perspective, Dogecoin stands a good chance to rebound when bitcoin turns green. That’s because it has always moved faster than bitcoin in bull markets, most good altcoins do anyway. This means that the next Bull Run could see Dogecoin outperform its all-time highs if bitcoin were to break above the $20k mark.
Besides, it now has an even greater element of credibility to it, with platforms like Robinhood listing it. That listing alone not only made Dogecoin more accessible to the investing public, but also increased the level of awareness about Dogecoin to people new to crypto. As such, the buying pressure around Dogecoin will be higher, once FOMO kicks in the market.
But that’s not even the key focus of Dogecoin (DOGE) holders. They just want to have fun, and they are getting better at it!