Sumit BeraTue, Jul 14, 2020 11:00 AM
A Viral Video Triggered A Dogecoin Sharp Growth
The daily trading volume of Dogecoin has grown by 1900% after the challenge launched in TikTok. In just two days, the price of the asset rose by 35%, amounting to $0.035. The authors of the challenge called for investing in a coin and keeping it until the Doge rate reaches $1.
Dogecoin video with the hashtag #DogecoinTiktokChallenge appeared on TikTok in early July and earned several million likes in a couple of days. The most popular of them, published by user jamezg97, says: “Let's get rich all together! The Dogecoin is now practically worthless. TikTok has 800 million users. As soon as the course reaches $1, you will receive $10,000. Tell everyone you know”. So users began to google “how to buy Dogecoin”.
The cryptocurrency with the image of the Doge meme dog was created by Bill Marcus and Jackson Palmer back in 2014: a meme with a dog just appeared then, and discussions of Bitcoin and crypto were extremely popular.
Impressive results of Dogecoin attracted the attention of the blockchain co-founder of Tron, Justin Sun who decided to repeat the success by creating an account on TikTok. Indeed, it is a sin not to use the attention of the app audience, which exceeded 800 million people.
Compound founder and CEO Robert Leshner couldn't miss the trend and stocked up with Dogecoin. When asked on Twitter why he invested in meme coin, Leshner commented on the situation:
Dogecoin price grew amid the viral video, peaking at $0.005599. After the DOGE price peaked, Dogecoin's official Twitter project urged people to be careful.