Brand Monitoring for Dogecoin Cryptocurrency on Twitter

Dogecoin was started in 2013 as meme coins and considered as a joke. However, it has become a phenomenon when the price was risen to 800% in January 2021 and soared to 400% in April 2021. Despite the skyrocketed price in early 2021, many investors still did not take Dogecoin seriously because it did not have strong fundamental compared to other cryptocurrencies. Nevertheless, many believes that Dogecoin soaring price was influenced by strong Dogecoin community on Twitter and several tweets by influential public profiles like Elon Musk. Cryptocurrency itself also has brand attributes such as names, positioning, and reputation in the market that often affected by public sentiment in social media like Twitter. This objective of this research was to monitor Dogecoin cryptocurrency as a brand. Conversation data on Twitter was collected with Brand24 from 1 April - 23 May 2021 when several important events occurred. The method used in this research was social media analysis combined with brand monitoring. The result of this research implies that Dogecoin gained more positive sentiment than negative sentiment. Also, strong influence from top public profiles, and the use of the right hasthags and cashtags were the important factors that affect the brand reputation.