The campaign was aimed at bringing more attention to the cryptocurrency and its role in the social media app.
The dogecoin volume live is a campaign that was launched on TikTok. It started with a post from an unknown account and has since been shared hundreds of times.
News about altcoins
On July 8, the crypto asset Dogecoin (DOGE) increased by 50% as a result of a new viral TikTok campaign encouraging users to pump the currency, prompting a tweet from the coin’s twitter account appealing to speculators.
DOGE has issued a cautionary warning to traders after its price increase. The @Dogecoin Twitter account’s controller urged traders to “be careful of the intents individuals have when they advise you to purchase stuff” in a tweet.
Anil Lulla, a former Bloomberg analyst and co-founder of Delphi Digital, stated,
“The growth of DOGE, a meme currency, should serve as a reminder to everyone in the industry that crypto’s most popular use case is still pure speculation.”
The price increase occurred when TikTok user James Galante uploaded a video titled “Let’s all become wealthy” in which he encouraged viewers to spend $25 in DOGE and wait for it to climb to $1, which would result in a profit of approximately $10K for each individual if the improbable scenario occurred.
To far, the #DogecoinTikTokChallange has accumulated almost half a million views and 100,000 likes. It has propelled Dogecoin up to number 28 in terms of market capitalization, and its volume has risen by over 2,000 percent, while global search interest in “How to purchase a dogecoin” has also increased.
DOGE holders have benefited from TikTok in a manner that even Elon Musk, who started supporting the cryptocurrency earlier this year, couldn’t match.
DOGE creator Jackson Palmer published a piece in tech news magazine Vice headlined “My Joke Cryptocurrency Achieved $2 Billion and Something Is Very Wrong” during an altcoin bubble in January 2018, when several assets hit all-time highs.
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Frequently Asked Questions
Can Dogecoin actually reach $1?
It is impossible to say what the price of Dogecoin will be in the future, but it is a cryptocurrency that has a lot of potential.
Will Dogecoin get $10?
I am not able to answer that question.
Can Dogecoin be $100?
Dogecoin is currently worth $0.001422