DOGE’s surge this year has blown Bitcoin and Ethereum out of the water. It’s crazy to think that even a few months ago even a price of $ 0.01 seemed elusive.
Here we talk to WaykiChain founder Wayki Sun about his involvement with Dogecoin from the start and how this has inspired him to develop new blockchain projects.
1. Hello! Why is your name so associated with Dogecoin?
My relationship with Dogecoin dates back to the end of 2013. There were a large number of early DOGE users back then.
Although on-chain addresses and transfers were extraordinarily high – not to mention Reddit discussions and global offline events – the market cap of the cryptocurrency wasn’t that big. I found it to be massively undervalued.
2. One of the founders of DOGE, Billy Markus, finally gave up the project. Then why did you bother to promote it?
Well, we know that Billy Markus created Dogecoin as a joke cryptocurrency that made fun of Bitcoin – high on the Shiba-Inu meme.
Maybe they didn’t realize the real meaning of blockchain. I can imagine that he was very surprised at how DOGE stimulated the community’s imagination back then.
The entire industry was in severe decline at the time, as was Dogecoin. There were many DOGE investors (especially those with large positions) who felt trapped.
Back then, like many communities today, the Dogecoin community praised the project when prices rose … and attacked the founders when they fell.
Markus must still have firmly believed that DOGE is a “stupid” crypto that should stay stupid. But many in the church disagreed with his ideas and attacked him. He said himself that it drove him away from DOGE.
3. How do you rate the popularity of a project?
I evaluate various indicators to judge the quality of a project.
Back then, DOGE had very good data in all aspects – broad public support, an active community, lots of blockchain addresses and a lot of attention on Reddit.
The founder’s actions did not affect my judgment, even if it shook the community’s trust.
We saw DOGE’s popularity hit rock bottom in western communities, so I led a team to rebuild support for this altcoin.
My team founded the Dogecoin Association in Hong Kong and the Dogecoin Foundation – offline events, increasing traffic, assisting with listing on major exchanges, even protecting secondary market investors when exchanges closes – and doing everything in our power to keep the spirit alive the DOGE users get high. I personally organized a burn of more than 50 million DOGE.
4. DOGE has now made the big break thanks to the support of the grassroots early adopters like you … and the great support of Elon Musk. How can this be transferred to other blockchain projects?
Whoever has the heart of small investors has the world. Whether you can dominate retail investors, trust them, and reach consensus is the key to any project’s success or failure.
As long as I find something valuable, I will encourage its development. I believe that at some point others will also see its value. Because as long as gold is still shining, it just takes more time.
Back when Bitcoin hit $ 900, I was just buying Dogecoin without selling it. History has proven that my choice, persistence and vision were right. The current popularity and development of DOGE has really exceeded my expectations.
5. Are you planning to apply your experience to WaykiChain?
I won’t copy it … but update it.
Blockchain projects have moved on at a rapid pace – and you can learn some valuable lessons by examining their progress. Just check out Ethereum and Vitalik Buterin.
Dogecoin success lies mostly in viral marketing or pop culture marketing. It has captured the heart of every normal user. The success of Ethereum and other leading public chains comes from very inspiring and coherent founders who attract other capable communities and resources.
I’ve used some of my experiences with DOGE when it comes to marketing WaykiChain – creating content on major social media platforms and holding online meetups around the world before the pandemic.
We are currently planning to restore them in China first. Our offline conferences started in March. So far, we have carried them out successively in seven cities and are communicating closely with local supporters.
Offline meetings are more efficient when they convey the value, technology, and benefits of the project. Although all participants have to wear masks during the epidemic, the enthusiasm of the supporters increases with the number of host cities.
As soon as COVID-19 is a minor threat, we will be running offline events around the world.
We will be promoting WaykiChain for as long as it takes. If 30 offline conferences aren’t enough, we’ll do 100. If 100 aren’t enough, we’ll do 1,000 more. I believe that ultimately we will achieve our goals through perseverance.
6. Do you think WaykiChain has what it takes to be as popular as Dogecoin?
Certainly.
The positioning of WaykiChain and DOGE is different – but the entire blockchain concepts, decentralization and listening to the community remain the same.
I would say WaykiChain has more mature technology, more sophisticated vision and a wider range of products.
For me, the future lies in decentralization. I believe in limitless digital currencies and in the positive impact of blockchain, which improves the efficiency of social operations.
7. What’s next for DOGE?
I think the Dogecoin community has lost some of the spirit that made it so magical in the first place – especially with the insane hype that recently surrounded this altcoin.
For a blockchain project to thrive, a community needs to keep its spirit, come together to achieve great things, and stay united.
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