Crypto is to a large extent segmented into communities, with each community drumming up support for their favorite coin. Over time, most of these communities have become extremely toxic, and defensive. They have become echo chambers where people only want to reinforce their hopes about their favorite coins while shutting down any divergent views. But amidst all this, one community stands out, and that’s the Dogecoin (DOGE) community. The Dogecoin community is focused more on fun and philanthropy. Whether the market is going up and down, the Doge community is consistently happy and easy. That’s quite unique given that in down markets, most communities are filled with anxiety about prices. For the Doge community, the 1 Doge = 1 Doge mantra tends to keep that anxiety at bay.
Crypto community attitudes do matter in drawing in new investors into this space. That’s because when a community is hostile, it pretty much locks out new investors who would like to learn something new about a specific coin by asking hard questions about it. When someone asks questions about a coin and all they get are defensive and disrespectful responses, they simply move on to the next coin, or to other investments altogether. This is something that the Dogecoin community has avoided. Anyone can ask this community anything on different platforms about Doge, and the responses both from the developers and the community are always very informative and welcoming. It’s one of the reasons why Dogecoin has a big and growing community. As this community continues to grow, the value of Dogecoin (DOGE) has remained relatively stable over the last couple of months, even though the rest of the market has been fluctuating widely in the same period.
On top of that, the nature of the community can help nurture ideas that can help drive crypto forward. Take for instance, the Doge racer game. That is a community generated idea that will play a huge role in pushing up the value of Dogecoin going into the future. If all communities were like that, most crypto projects would accomplish more than they have accomplished so far.
However, the most important reason why crypto needs Dogecoin’s community attitude is that it could lead to a more united front when it comes to pushing for favorable regulations. Crypto is still young and is facing lots of resistance from existing systems, due to its disruptive nature. As such, it makes sense for crypto to present a united front in pushing for better regulations that favor crypto. Competition between the coins themselves is a non-issue at this point. None of them has truly gone mainstream and replaced existing systems. This means that the opportunity is there for all of them, but they need a united front. This way, even regulators can take this industry seriously and propel coins to growth.
Clearly, there is a reason for all cryptos to emulate the Dogecoin community. The friendliness is not only good for the development of individual coins, but also for the growth of the entire space as well. Of course, this also means that Dogecoin (DOGE) is one of the best coins in the market, one that could continue to make gains in the market on the strength of its community. The possibility of Dogecoin (DOGE) making it into the top 10 on this basis alone is quite high.