Market
Problem that it solves
The creators of Dogecoin believed that Bitcoin was being taken too seriously when it first started to pick up steam in 2014. They decided to create their own 'fun' coin featuring the popular meme of a Shiba Inu dog. It started as a response to online forum demand and quickly became one of the most discussed coins across the globe.
Customers
Dogecoin has a strong community on the internet with people utilizing the coin as a means of tipping and raising money for charitable causes.
Value creation
Dogecoin offers fast transaction times and near zero fees, but the most valuable aspect of the project has to be its vast online community. The Dogecoin community is passionate about the project, promoting the coin to the public, merchants, consumers, and anyone else with an open ear.
Market structure
As it stands, Dogecoin remains one of the default 'beginner coins' for those looking to wet their feet in the digital currency market. Furthermore, Dogecoin is most often used as a means of giving, whether to an organization or simply tipping someone over the internet for content creation, services, etc.
Market size
Dogecoin started as a joke but quickly rose to prominence in the crypto community. Having said that, the real market for a coin of this nature exists within the confines of the internet forums. The charity market is only so big and, at some point, Dogecoin would have to extend its reach beyond 'giving' in order to become a viable investment.
Regulatory risks
Dogecoin represents the fun and quirky side of blockchain, but that does not mean it's immune to scandals. As far as regulation goes, Dogecoin will face the same sorts of risks as most other digital currency.
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Competitive Advantage
Technology/blockchain platform
Dogecoin runs on its native blockchain, which has been around since 2013.
Lead time advantage
Dogecoin represents one of the first attempts at creating one's own digital currency. Introduced as a 'joke currency' in December 2013, Dogecoin has considerable lead time on most other projects and has been a staple of the crypto community ever since.
Contacts and networks
The original creators of Dogecoin have little to do with the digital currency at this stage, but the real 'network' of Dogecoin exists across the scope of the internet. Recognized as the cryptocurrency of the web, Dogecoin has developed its own brand that has even caught the attention of Elon Musk in the past. The issue is that most consider Dogecoin a fun idea with no real intentions on taking it past the meme stage.
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Management Team
Entrepreneurial Team
The creators of Dogecoin, Jackson Palmer and Billy Markus, boast impressive corporate resumes, but Dogecoin has no 'team' in reality. A group of developers maintain the network, but those expecting an entrepreneurial team of all-stars will be sadly mistaken.
Industry/technical experience
As mentioned above, Dogecoin lacks a legitimite team. The project was not started with profits in mind, rather it serves as an open-source peer-to-peer digital currency maintained by a group of developers.
Integrity
Although 'team integrity' does not apply to Dogecoin, the online community of Dogecoin users holds itself to a certain standard. Dogecoin's existence is predicated on giving, so it's fair to assume that the general community holds active users of the coin to a certain standard of integrity.
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Token Mechanics
Token required
DOGE is an absolute necessity for the project considering the token brings all sense of value for the users, including low transaction fees and near instant transactions.
Value added
DOGE does not yield benefits beyond that of similar altcoin like Litecoin. It's primarily a means of payment for transactions that specifically occur over the internet, such as payment for goods/services, donations, and tipping.
Decentralized
Dogecoin is arguably one of the most decentralized blockchain networks as it has a strong focus on community and no company behind it.
Token supply
Dogecoin has what experts call an 'inflationary' aspect to its protocol, which means that there isn't a fixed supply of DOGE. The online community appreciates this feature because they believe it separates DOGE from pump and dump schemes.
Public exchange
Dogecoin is found on a number of popular exchanges such as Binance, Bittrex, Poloniex, and more.
MVP
Dogecoin has been live since December of 2013.
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User Adoption
Technical difficulty
Dogecoin gained its user-friendly reputation straight from the start when the creators launched a simplistic, one-stop website where interested parties could learn everything they needed to know before purchasing Dogecoin. It remains one of the easiest currencies to use.
Halo Effect
Although Dogecoin lacks official partnerships and institutional investment, there is no denying that it has one of the most prominent halos in the industry. The fun, quirky, and transparent nature of the coin helped build a reputation that thousands would be willing to defend at a moments notice.
Buzz
The buzz surrounding Dogecoin peaked between 2014 and 2017, and the coin has yet to garner that sort of attention since the market crash of 2018. However, that does not mean that its community isn't active in promoting 'their' coin on social media.
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Overall Score
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