The most unique flag in crypto history DogeCoin.

The Most Distinctive Flag in Cryptocurrency History Dogecoin.

1. “Doge-1” Lets More People Know About Dogecoin

1.1 SLianGuaiceX’s “Doge-1” Mission Gets FCC Approval

According to LianGuaiNews on December 1, Samuel Reid, the CEO of space technology company Geometric Energy Corporation, confirmed on the X platform that SLianGuaiceX’s “Doge-1” lunar mission has obtained approval from the US Federal Communications Commission (FCC). Previously, on November 29, SLianGuaiceX’s “Doge-1” satellite had received approval from the US National Telecommunications and Information Administration (NTIA) and is now seeking final approval from the FCC.

1.2 “DOGE-1” Mission Sponsored by Dogecoin

SLianGuaiceX founder Elon Musk announced the DOGE-1 satellite launch project in 2021. As a collaboration between Intuitive Machines and the US space program NASA, “DOGE-1” is being developed and funded by Dogecoin, and it will be launched on the SLianGuaiceX Falcon 9 rocket. The micro-screen on the DOGE-1 satellite will display advertisements, images, and logos, which will then be broadcast to the Earth. DOGE-1 is the first satellite launch project fully paid with Dogecoin.

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2. About Dogecoin

Dogecoin is a fork and evolution of LTC, with advantages such as fast transactions, convenience, and no need for real-name authentication. It was created and issued by programmer Billy Markus in December 2013, with the intention of being used for all kinds of rewards and tips. Dogecoin is positioned as a cryptocurrency with entertainment and social attributes, which has attracted widespread attention from social media users since its launch.

2.1 The First Meme Token Originated from Spoofing

The name and logo of Dogecoin are derived from a Shiba Inu meme. In the crypto field, Dogecoin also represents a friendly, fun, and cute image, which has attracted many dog lovers to pay attention and participate.

However, it is undeniable that the creation of Dogecoin is more of a spoof and entertainment in response to the seriousness of Bitcoin (BTC), and it is a mockery of various altcoins at that time. It has a deliberate reversal meaning. It can be said that Dogecoin is a pure product of internet culture, using viral jokes and culture to spread itself and form a unique Meme culture.

Dogecoin is the originator of Meme coins and has always been the benchmark and leader in the Meme coin market. It represents the internet meme culture and has gathered a highly engaged user base to spread its concept and adoption. Even its founder, Billy Markus, probably didn’t expect Dogecoin to skyrocket 800% right after its release. It has become a trendsetter in the Meme world and has a market value exceeding 14 billion dollars, making it a flagbearer in the crypto industry.

2.2 Deviating from mainstream token design rules

Dogecoin goes against mainstream crypto thinking in many aspects, such as:

• Its original intention was to mock and satirize altcoins, not to provide a specific solution;

• Its logo is a dog, completely opposite to the seriousness associated with currency;

• It has an unlimited supply, unlike mainstream coins like Bitcoin that have a predetermined limit, such as 21 million;

• Its initial use case was for creators’ tips, similar to a sentiment value of liking, with properties that are hardly distinguishable between token and coin.

With time as a witness, Dogecoin seems to have proven to people that there is another path besides mainstream design and rules, providing limitless space for the diversity of crypto.

2.3 Surpassing expectations in market value and price gains

According to the latest data from Coinmarketcap, Dogecoin ranks ninth in terms of market value, at around 13 billion dollars, with a 24-hour trading volume of 1.1 billion dollars and a circulation of 142.12 billion.

According to Binance’s November report, Dogecoin’s monthly price increase reached 15.72%, second only to SOL, LINK, and ADA. Especially after SLianGuaiceX’s “Doge-1” lunar mission received approval from the Federal Communications Commission (FCC), it caused another round of nearly 20% price increase in a single day.

2.4 The effect brought by Elon Musk

Elon Musk’s strong influence on Dogecoin’s valuation and growth path has attracted more long-term holders among users and exchanges. Especially in the context of Dogecoin’s association with SLianGuaiceX and Tesla, such as Musk’s statement that “Dogecoin could be the currency of Mars” and creating FOMO by saying “Dogecoin can be used to purchase Cybertruck,” non-crypto industry investors have developed a strong perception and investment sentiment towards Dogecoin.

Based on Elon Musk, Dogecoin has received a high level of attention on social media, with positive sentiment far outweighing negative sentiment. For example, in the Telegram group, there are around 10,000 members, and over the past month, neutral sentiment has accounted for more than 60% of the total, with negative sentiment fluctuating between 10% and 30%. According to CMC & Coincarp data, Dogecoin has around 5.7 million holding addresses, with 4.9 million addresses holding positions below $1000. Most of these addresses are owned by whales and exchanges, with the top holder accounting for 23.16% of the total, the top 10 holders accounting for 45%, and the top 100 holders accounting for 66%.

2.5 Factors to Consider When Investing in Dogecoin (Recommendations)

Although Dogecoin has a high market value, its meme nature means that it will inevitably have more uncertainty. Some investors like to take advantage of viral hype cycles to gain short-term profits, but the risk is still high. The following factors provide a reference framework:

Time Frame – The uncertainty of meme culture can lead to short-term volatile fluctuations;

Risk Tolerance – Irregular and short-term volatility requires a higher level of risk tolerance;

Interest Preference – Enjoying internet and meme culture and being willing to participate in it can be beneficial for investment;

Target Return – Meme-type coins may bring exponential speculation returns and belong to the high-risk high-return category;

3. Reflections on Dogecoin

3.1 The Power of Emotional Value Goes Beyond Imagination

So far, Dogecoin’s large and highly active community has been an important component of its long-term value. Starting from its origins as a joke entertainment, Dogecoin has been constantly helping people create and spread emotional value. Elon Musk’s recognition and marketing activities have also been reinforcing people’s emotional value towards Dogecoin.

Clearly, emotional value has expanded the boundaries of crypto through Dogecoin and continues to provide ongoing value to Dogecoin:

• Emotional value subtly shapes people’s consensus on the value of Dogecoin;

• The size of Dogecoin’s holders and community is long-term cohesion because of emotional value;

• More and more people are joining and understanding crypto because of Dogecoin’s emotional value;

• Emotional value continues to spontaneously create applications and solutions, building a positive feedback loop;

3.2 Consensus has always been a value generator in the Crypto market

If we say that sentiment value has made Dogecoin stand out and take a unique path as a Meme coin, then in this process, Dogecoin has proven to us that consensus has always been a value generator in the Crypto market.

Among industry experts, “consensus” is seen as the embodiment and epitome of blockchain technology. Building consensus through technology and achieving consensus through technology seems to have become an unbreakable truth. However, Dogecoin’s growth trajectory has shown us another kind of consensus – “crowd consensus.” We know that currency belongs to the category of general equivalents, and the value of traditional currency comes from “credit value,” which is derived from “crowd consensus,” the consensus on government credit.

Le Bon said in “The Crowd: A Study of the Popular Mind”: “As soon as a person joins a crowd, all of his individual characteristics are submerged in the collective mind, and his thought is immediately replaced by the collective thought.” Obviously, “crowd consensus” is the focal point of collective thinking. It can drive people to develop beliefs and shape shared values and visions, all of which contribute to the generation and growth of value. From ancient times to the present, “consensus” has always been a value generator and will undoubtedly continue to be a value generator in the Crypto market.

3.3 The influence of brand effect can transcend application scenarios

Meme is a type of internet culture, and Dogecoin is not just a cryptocurrency, but also an internet brand shaped by this Meme culture. When big names like Elon Musk and Mark Cuban associate themselves with Dogecoin, its brand effect and influence are infinitely amplified, to the point that it can connect with more and more people without the need for deliberately designed application scenarios.

From April Fools’ Day in 2019 when Elon Musk became associated with Dogecoin, to February 2021 when Elon Musk claimed to send a Dogecoin to the moon, and to the latest “DOGE-1” launch plan, all of these are brand marketing activities.

These marketing actions align well with the network effects and viral transmission factors of Meme culture, thereby maintaining the Dogecoin brand’s social impact globally for a long time, leading people to become aware, accept, and spontaneously pay attention to and adopt Dogecoin in the process of tipping, trading, and investing. Some well-known companies, such as Coinbasse, have also started accepting Dogecoin as a payment method. This increase in market recognition creates and provides more use cases for holders.

4. Conclusion

Dogecoin, born on December 8, 2013, is second only to Bitcoin in terms of user count. While mainstream cryptocurrency projects focus on solving problems and building solutions through new architecture and functionality, Dogecoin’s main objective is to spread viral awareness and appreciation for its related memes. It lacks a serious development roadmap and technical aspirations, but it is using mining and staking to protect the stability of its blockchain and has received funding from the Dogecoin community for the development of its core wallet.

The Dogecoin community is full of passion and creativity. They promote and advertise Dogecoin through various means to increase its exposure. This community power, combined with the Elon Musk effect, ensures the long-lasting impact of Dogecoin in the market. It will continue to drive the stability and development of Dogecoin in the market and industry, leading more people to understand and join the Dogecoin community.

Due to its unique community and widespread exposure, with a market capitalization surpassing 10 billion US dollars, and continuous brand exposure increasing its popularity, Dogecoin has become a distinctive brand in the crypto industry. It has been expanding its influence boundaries through meme culture and brand marketing, gaining more attention and adoption from people, and influencing both insiders and outsiders of the industry, making more people aware of and understand cryptocurrencies. Dogecoin has become a flag bearer in the crypto industry.

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