Dogecoin is not unique among cryptocurrencies for being something of a light-hearted, fanciful currency, but it is unique in that it is one of the most successful “joke” cryptos. Dogecoin is, of course, inspired by the Shiba Inu meme that took “I Can Haz Cheezeburger”- style Facebook groups by storm in 2012.
Dogecoin was started in 2013 by a number of people who wanted to make a fun and friendly cryptocurrency. While Doge is certainly a fun and friendly crypto, what the Doge founders likely were not aware of was just how popular this particular crypto would become.
Over the 10 years of Dogecoin’s existence, we have all learned new lessons from the rise (and occasional fall and rise again) of Dogecoin.
Sometimes jokes are just that…until they are not
Dogecoin started out as a joke but it has slowly become a very real investment over the last 10 years. The people who took a chance on something fun and goofy are now reaping the rewards of having done so, and are looking past the humor to see the potential of the situation.
As a society, we tend to disregard things that are considered too cute, funny or playful. However, these are all valid and important aspects of life, and we can all learn from Dogecoin that it is possible to be fun and playful while also being valuable, serious and important. Perhaps we could all do with a little more of Doge’s goofy flair in our lives!
Collective belief has power
Perhaps one of the most important lessons from Dogecoin is that collective buy-in and belief carries with it actual power and influence. It did not matter that Dogecoin was something of a joke when it started – enough people were willing to believe in it and invest money it in that it grew into something powerful and valuable.
We have also seen similar movements around the world grow and take shape. For example, many of the things which the former President Trump spoke of were patently untrue and proved to be false. Yet there were enough people who believed his words that it did not actually seem to matter that he lied – or that his lies were exposed.
We can learn from Dogecoin that collective belief is incredibly powerful and that it can be directed by both positive and negative forces.
Organization is key
Just like all other cryptocurrencies, when a user buys Dogecoin, they are able to access it through the keys they have, which are essentially passwords. Lost keys have resulted in millions of dollars’ worth of crypto either disappearing or becoming permanently inaccessible.
Many Doge holders bought the crypto when it was a new creation and fairly cheap. Years later, when Doge rose significantly in value, some of these people were totally cut off from their coins because they had lost their crypto keys.
These days, it is much easier to stay organized when it comes to crypto than it was in the past. Platforms such as OKX offer exchange services along with crypto wallets and real-time updates to fluctuations in Dogecoin price and many other cryptocurrencies.
Do not listen to Elon Musk
Elon Musk latched on to Dogecoin as something meme-worthy, in the same way he consistently has in the past with other things that he thinks will make other people perceive him as funny. Musk complained about how centralized Doge was and called for certain people to sell their Doge and others to buy.
While Musk’s meddling did not necessarily tank Doge, it serves as a good reminder to ignore business advice from a man who has to have all of his tweets checked by a lawyer prior to publication. He has a history of manipulating the market based on his tweets and of giving poor business advice, so it is best to avoid taking investment tips from him.
Nothing is set in stone
Finally, we can all learn from Dogecoin that truly, nothing is set in stone and change can happen. The rise of Dogecoin from meme to meme-ified crypto to actual investment instrument happened through a series of jokes, false starts and collective movements that has culminated in Doge being a serious crypto investment.
If you feel hopeless about a project you are working on right now, that just is not going anywhere or that has lost steam, try not to lose faith. You never know when you could have your own Dogecoin moment.