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September 21, 2020
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TikTok challenge raises Dogecoin’s price by 20%

A viral video is asking everyone at TikTok to buy Dogecoin to raise its price to $ 1. But with its price so far, it is an unrealistic goal.

A viral video by TikTok about Dogecoin is pushing the price of cryptocurrency up.

Dogecoin – which was designed as a direct response to Bitcoin – has seen its price rise by 20% in the past five days, according to TradingView. The outbreak occurred after the TikTok user “James Galante” posted a video called “Let’s get rich” and persuaded viewers to invest in cryptocurrency.

Video makers invite TikTok users to invest $ 25 in Dogecoin and wait until its value rises from $ 0.0023 to $ 1 – which would give each person a profit of $ 10,640, if that scenario unlikely to happen. The current price is $ 0.0028.

@ jamezg97

Wait til the end it’s worth it #dogecoin #stocks #crypto #DogecoinTiktokChallange

♬ Lets get rich tiktok – jamesgalante

“Let’s all get rich!” says the user of the social network: “Dogecoin is practically useless. There are 800 million TikTok users when you reach $ 1, you will have $ 10,000. Tell everyone you know! ”

In context, cryptocurrencies are widely speculative instruments, their prices may rise or fall and it is not advisable to receive financial advice from TikTok videos.

The call #DogecoinTikTokChallange has attracted almost half a million views and 58,000 likes to date. It made Dogecoin move up to thirty-third position by market value.

A strange story

It is not the first time that the coin, characterized by the company’s mascot “Doge”- the Japanese dog breed Shiba Inu – attracts so much attention.

Dogecoin was created in 2013 by programmers Jackson Palmer and Billy Markus. But despite having been abandoned by its creators in 2015, the cryptocurrency has come to find popular appeal, stimulated by a super active community, low price and low transaction costs.

Last year, Elon Musk assumed that Dogecoin was his favorite cryptocurrency.

Palmer, who is still revered by the Dogecoin faithful, has now completely abandoned the crypto universe. In March, he appeared on a podcast to argue that his crypto dream was dead and that money was circulating among those who were in love with him.

“It’s just a technology – cool your turbines,” was his advice. But Dogecoin’s new followers are not listening to his advice.

Source: decrypt

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