Dogecoin (DOGE) – Philanthropy is a powerful tool for creating awareness and goodwill not just in crypto but in any other business as well. Several projects have used this strategy and it has worked pretty well in driving up adoption. For instance, a while back ripple donated $4 million worth of XRP to a wildlife foundation, through Ellen. Digibyte too, has been quite active in helping out the people of Venezuela, a move that has pushed up its overall usage in this country that is facing a massive economic crisis. It’s on this basis that Dogecoin (Doge) has been big on philanthropy from the very start.
Through the Dogecoin foundation, the Dogecoin community has been changing the lives of many around the world, while at the same time promoting the usage of Dogecoin (Doge). Actually, the foundation acknowledges this on their website, as can be seen below.
“We all wish Dogecoin will reach the moon, may that day be sooner or later. But it all starts with what us, the community, can do. The Dogecoin Foundation helps promote Dogecoin, so more and more people know about it and we can get it in the hands of more shibes. Think of us as the “backend” of the Dogecoin community.”
If Dogecoin’s performance in the market is anything to go by, then there is no doubt that Dogecoin’s strategy of giving back to the society has added to the intrinsic value of this crypto. That’s because, Dogecoin (DOGE) is one of the best crypto performers in the market so far. That’s in spite of the fact that it is an inflationary crypto, with billions of coins in circulation.
This can only mean one thing, Dogecoin’s demand is growing in the market, relative to its supply. This demand is mainly driven by a people friendly and generous community. Whenever the Dogecoin community gives back, it incentivizes the affected people to start using it for their everyday transactions.
On the basis of the success of this strategy, one can postulate that Dogecoin is headed to an even better future. That’s because the Dogecoin (DOGE) community is getting more proactive in giving back to the society. For instance, this month some members of the Dogecoin community have participated in giving 120 pairs of socks to homeless people in Skid Row in Los Angeles. Through this charity event, there is someone in Los Angeles who didn’t know about Dogecoin, or never took an interest in it, that will now want to check it out. That’s a positive addition to the community, and one that will add to the intrinsic value of Dogecoin (DOGE) going into the future.
Of course, Dogecoin’s core fundamentals, not just philanthropy and PR play a role in its exponential growth. Dogecoin is fast, low fees, and is extremely easy to use. It’s the kind of crypto that offers a perfect alternative to fiat, and fiat-based payment systems in sending money digitally. PR is just a catalyst to the growth of a coin that is already fundamentally strong. As more people get to appreciate its value, its intrinsic value will grow, and so will its price in the long run.