Dogecoin Goes Corporate

The organization House of Doge has taken on the promotion of Dogecoin.

At first glance, this step might seem puzzling. By 2021, when Elon Musk brought mainstream attention to DOGE, its development had essentially been abandoned. The original developers never really took it seriously, leaving Dogecoin to flourish organically as a truly community-driven project.

Since 2021, Elon Musk has been promoting Dogecoin - or perhaps "promoting" isn't quite the right word. He’s frequently mentioned DOGE in various contexts: claiming Tesla would accept this meme coin as payment or jokingly suggesting the creation of a governmental body with a similar-sounding name. Aside from Musk, there was also something called the Dogecoin Foundation - but has anyone ever really heard much about it?

Now, House of Doge aims to take Dogecoin promotion in a more institutionalized direction. Their first move is creating a liquidity pool of 10 million DOGE ($1.8 million), intended as a custodial reserve to facilitate faster business transactions.

This decision clearly diverges from Dogecoin’s playful and community-driven roots. It feels as if the organization wants to take control of something lovingly built and nurtured over many years by the community itself.

Dogecoin has thrived without institutional support in the past, and I'm confident it will continue to do so - even in spite of such support.

However, in the short term, the actions of House of Doge could certainly spark increased interest in the coin. So, if you've been considering exchanging your cryptocurrency for DOGE, this might just be the ideal moment! Visit rabbit.io, where you can quickly and easily exchange over 8,000 cryptocurrencies for DOGE - no registration required and always at the best rates.