For nearly 7 years, the crypto-currency Dogecoin exists. While the currency was being considered at the beginning as parody, it has proved to be the meantime, as an anchor of Stability in many years. With a market capitalization of about 336 million US Dollar to the Japanese dog breed Shiba-based Coin listed currencies on place 33 of all Crypto.
After DOGE the last 7 days was largely unmoved, exploded, of course, the day before yesterday around 20 percent. The reason for this was (and is) an absurd Challenge on the Chinese Video and music platform TikTok. Let’s look at what’s going on here exactly.
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Dogecoin rate increases by TikTok
Currently, a Challenge viral, the Hashtag #DogecoinTikTokChallange goes on TikTok. This is a Video, which now has around 500,000 Views. The idea and the content of the Videos is absolutely absurd, but it shows, obviously, how quickly the User of the platform can influence.
In the Video, the user calls jamezg97 to buy DOGE. The reason for this is that each Empire would be in order when the Coin reached a price of 1US Dollar.
Let us all be rich! Dogecoin is practically worthless. There are 800 million TikTok users and if DOGE is suddenly 1 USD value, you’ve got all of$ 10,000. Tell it you know everyone.
The Video was picked up by some Users. This fueled the idea in part, and encouraged the audience to invest in DOGE. It means, among other things, that each could only invest 25$, to be to end up with a 10,000$ reward. The request for this is: “Please, just try it. Pump the Coin!“.
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Pump and Dump, in combination with the wrong expectation
It is clearly a Pump and Dump attempt, it should be clear to everyone. It can be from the current perspective, of course, difficult to say, whether, in fact, a connection between the call to TikTok and the Kurspump is.
The rich soft, nearly Half a Million users should not be underestimated, however. However, it is clear that the formulated expectations with a price of 1 Dollar per DOGE are completely unrealistic. The Coin is currently trading at a price of 0,002683$. So in order to reach the mark of 1 Dollar, should increase the rate by around 374x. Thus, the cute Shiba-dog would quickly reach a market capitalization that would make a great Coin in the shadows.
In this sense, we can only say: Consider whether your TikTok want to use and, if so, please follow Calling like this.
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