The Sure Thing, the Force Multiplier, and the Underdoge

Dogecoin, regardless of its intrinsic or functional qualities, has been buffeted by unique force multipliers. The Dogecoin NASCAR was just one of a long series of public spectacles that bolstered its value through familiarity and positive association: in a world of high-risk, hard-to-understand speculative currency gambles and scams, the friendly face of Dogecoin continued to show up in shockingly pleasant contexts. Sandwiched between horror stories of plundered startups and costly crashes were stories of Dogecoin cars, Dogecoin charities, and silly tales of casual folks hitting it big with the friendly dog joke crypto. Dogecoin, through its perceived harmlessness, inadvertently developed the most non-threatening PR campaign in all of crypto. Paired with occasional name-drops by celebrities like Snoop Dogg, Gene Simmons, and that Tesla guy, Dogecoin has gained a powerful positive-association effect regardless of what it is, how it works, or how it was intended.