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Tag: dogecoin

  • Meme and ‘Baby’ tokens showcase the power of hype marketing in cryptocurrency.

    Meme and ‘Baby’ tokens showcase the power of hype marketing in cryptocurrency.

    hype marketing
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    It’s safe to say that Elon Musk facilitated two very interesting trends; electric cars and meme coins. To the moon! But before that, how much have you earned by simply holding ‘baby’ tokens? Only very few ‘blue chip’ projects are yet to get a ‘baby’ token which yields their holders some dividends in parent tokens for holding the spinoff tokens.

    The crypto space offers a free market opportunity where concepts sell according to market demands. Regardless of intrinsic values, a project’s valuation could steam from numerous factors; ‘luck’ included. DogeCoin’s transition from a ‘joke’ fork of the bitcoin blockchain to a top ten token in a Two-trillion-dollar sector with tons of other relatively ‘more useful’ projects, goes a long way to portray the randomness of the crypto space.

    Well, that’s not the first time this space has looked ridiculous; and not the last time either. If you bought some Safemoon and sold it off at its all-time high, then you’d probably be in a realistic moon currently, same if you invested in a number of meme coins.

    Meme coins hold one thing in essence, ‘communalism’. Interesting, to be fair; group marketing creates enormous hype and could drive a huge buy pressure on the concerned project. Meme and moon coins utilize this idea a lot and make tangible price and community success thanks to the correct use of this strategy.

    Hype marketing has played out well for a good number of cryptocurrency projects. Well-planned shills by a group of people could create thrills and lure potential investors into investing in a project despite having no clear information about the project. These projects sometimes involve prominent cryptocurrency influencers and mainstream celebrities creating these shills. 

    If done well, hype marketing could override utility and push a project to tangible price levels regardless of the proper utility it presents. This growth despite being organic is actually built on ‘unverified beliefs’ and bloated utility.

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    Memes are cool, but are they worth over 40 billion dollars? Well, arguably. The doge army would present reasons why they think dogecoin should actually overthrow bitcoin at the apex, lol. Regardless of how convincing these reasons may be, meme coins owe a majority of their success to well-planned hype marketing…and Elon Musk.

    Alright; you might not be a fan of jokes and memes, and communalism either, but passive income is an idea everybody fancies; well, most people. If that’s the case, then you’d fancy some of the ‘baby’ coins being filtered into the crypto space. 

    Baby tokens reward holders by selling contract taxes to buy parent tokens and distributing these tokens to holders according to the proportion of tokens they hold. Dividend tokens are usually allocated in a 1:1 ratio and enable automated distribution of the concerned parent token. These protocols are all embedded in the smart contract. Tweaks and ‘hacks’ are possible anyways. Well, I’d say ‘technological exploitations’

    Actually, it doesn’t matter how the rest of the crypto space feels about these tokens, they skyrocket at launch. Only a few of them manage to maintain this speed for a while though, most others falter as the hype falls. Nevertheless, they make a bold statement about marketing in cryptocurrency and the world outside it.

    A true businessman knows the value of marketing; however, the same cannot always be said about a nerd who prefers to push code bits to GitHub and deliver clever solutions. Disproportionality between marketing and technology has seen mediocre projects with good marketing climb the stairs in terms of market capitalization while plausible projects languish at the bottom and most times, die off.

    You probably have your reservations about ‘marketing coins’ and hype marketing as a concept; but there is no denial about the fact that they shine a light on subject many projects ignore — marketing. Successful cryptocurrency projects are built by properly marketing good utility(ies). When done so well, one might offset the effect of the other. 

    Well-developed utility, successful hype marketing? A project might survive by having just one of these. The perfect strategy is a combination of the two, many projects with solid utility and tokenomics miss out on the latter.

    A lesson to learn? I’m not sure if these other projects are willing to learn from memes and ‘baby’ tokens.

  • The Doge and the Twitterverse

    The Doge and the Twitterverse

    That title sounds a bit like a moonlight tale or a chapter from a kids’ storybook. But that’s fine, it’s a fairytale anyways. A fun one, but not too funny for the other half of the Twitter workforce stripped of their salary source by the beloved DogeFather.

    When Billy Markus and Jackson Palmer were editing the bitcoin code to create Dogecoin, they certainly never believed that its destiny will lie in the hands of a nerdy billionaire. It is what it is though, the SlumDoge millionaire must be clearing up his garage for his new Tesla CyberTruck since Dogecoin has returned to the top gainers’ list and might finally land that Twitter deal.

    The Twitter-dogecoin Saga is like a toxic rich couple relationship. Frequent fallouts and even stronger comebacks, each one attracting huge financial involvement. When dogecoin hit $0.7, the rocket man was the big propeller. This time around, the story is the same, the only difference is that he isn’t somewhere on the bird app screaming “To the Moon”. Well, let’s just hope he doesn’t land another SNL interview.

    Not sure if he will take any of those when he has a whole lot of grounds to clear in his new acquisition. A $44 billion purchase isn’t something to abandon for an interview…let that sink in.

    Ok, word on the street is that Dogecoin will be the new token of the Twitter application. I’m not sure if Elon will be collecting that $8 monthly charge in Doge. As a matter of fact, he hasn’t really made his intentions about Doge clear. Notwithstanding, the ‘clever’ crypto investor just completed a dogecoin purchase from his Mid-end smartphone. When Twitter finally integrates Doge and his bag pumps, he will have just enough cash to get a better device. After all, someone made a few billion dollars from Shiba Inu and Doge is an even superior Dog.

    Once I drop the last line of this article (which should be soon) I might consider getting a few dollars ‘bag’ of doge, just in case it finally gets to Twitter and the price goes through the roof. Now that’s a random moonboy statement and moonboys run this street. With the price dropping currently, I might just get a good discount or be rekt completely. The latter isn’t more likely, I don’t even know which.

    Elon Musk has always been a huge fan of Dogecoin’s technology and economy. You’d expect him to buy up Dogecoin instead of Twitter, but the electric car man always has his own plans. $40 billion into dogecoin might have gotten it closer to flipping Ethereum; then bitcoin.

    Elon will need to fight off competition from Jack Dorsey’s BlueSky, Kanye West’s Paler, and of course Donald Trump’s TruthSocial. The social media space is currently a big playground for billionaires. Just like I sip coffee and make Puns, Elon will try to raze a blunt and sack more staff or charge even more fees for the blue tick. Whichever happens more, I just hope he gave Parag that huge Ferrari money. And shout out to @mattwallace888 on Twitter for that new Twitter Logo.