The Dogecoin Founders Request That The Community Avoid Undermining The Brand Through Behavior
Dogecoin’s success may undoubtedly be attributable to the strong community that has developed around the meme currency.
The cryptocurrency had been able to reach new highs only on the strength of the enthusiasm generated by its fans. However, a community capable of admirable deeds may also rapidly destroy a business if it becomes poisonous. This is why Dogecoin creator Billy Markus has taken it upon himself to educate the community about the dangers of poor conduct.
At a time when the market is experiencing a sustained decline, it is more critical than ever to have a project that adheres to its brand. That has been the memes, the joy, and the feeling of community that Dogecoin and its community have felt. However, like with any developing group, seeds of conflict may germinate, transforming a once-welcoming community into one that is poisonous.
Bill Markus, the brand’s founder, made reference to this in a recent tweet in which he asked community members to remain committed to the brand’s original mission. He cautions that introducing undesirable features into the community would ultimately harm the brand, which will impact Dogecoin’s development and pricing, since no one would want to cooperate with such a community.
Because acceptability is critical to the project’s growth, it is critical that Dogecoin stays desirable to new investors and other companies interested in collaborating with it.
Markus has also addressed the significance of hype in the coin’s success. Essentially, when Dogecoin initially gained popularity at the start of last year, it was completely due to the buzz generated by billionaire Elon Musk. The hype had taken on a life of its own and had become the primary motivator for the coin, which lacked any use whatsoever.
Regardless of how much excitement has aided in the growth of the digital asset, Markus does not think it is sustainable in the long term. He asked the Dogecoin community to abandon the hype-driven strategy and instead concentrate on creating something that would last in the coming years.
According to him, it has already been shown that hype alone cannot maintain a project, probably referring to the coin’s continual decline after the enthusiasm died down.
Dogecoin has maintained a modest rate of growth on the charts on its own. After losing its footing at $0.14, the digital asset has oscillated between $0.13 and $0.14, with no discernible hint of support at this moment.