In the cryptocurrency world, with hordes of investors and traders attempting to sniff out the next big winner, following a top dog has been a profitable strategy over the past year. And solid public relations can help boost the profile of any token, ideally shifting them from the middle to perhaps the front of the pack.
If the world's wealthiest person, Elon Musk, is the PR 'representative' for a digital token, imagine the momentum that token could enjoy, not to mention the elevated pricing. Indeed, Musk is a big supporter of cryptocurrencies. When asked how regulators should handle the asset class, he responded by saying they should “leave it alone.”
In the past he's put in a good word for Dogecoin (DOGE) which was the first crypto to use a canine as its symbol. DOGE was founded as a goof on the asset class. However, its ascent to the crypto top—in an asset class with over 15,000 tokens—is hardly a joke.
Any asset is only worth a level where buyers and sellers meet in the marketplace. Clearly, a little help from the world’s wealthiest person can go a long way.
Sense of humor in the cryptocurrency world
Mark Twain said that “humor is mankind’s greatest blessing.” Mel Brooks said, “Humor is just another defense against the universe.” In that spirit, software engineers Billy Markus and Jackson Palmer created a payments system as a “joke” in 2013, making fun of wild speculation in cryptocurrencies.
Markus refers to himself as “Shibatoshi Nakamoto," a goof on Bitcoin’s mysterious founder Satoshi Nakamoto.
Little did they realize that their adorable Shibu Inu, the meme they chose for their "joke" digital currency, would brand their jest into one of the leading cryptocurrencies, one that's survived and thrived over the past seven years.