By Hassan Mehmood (Saudi Arabia)
The cryptocurrency Dogecoin (DOGE) has seen exceptional growth after a video about it get viral over social media platform TikTok. The incredible upward movement gets the attention of crypto trading platforms and exchanges.
Reaches Two-year High Figure
A TikTok user encourages other fellow users of the platform to invest in Dogecoin so that its price value will reach $1. People who invest now $25 can make 10,640 DOGE if it reaches $1. However, it able to touch the figure of $0.005, the highest figure in the past two years, but for a short and then again show a correction to $0.004.
Jamezg97 posted:
“Let’s all get rich! Dogecoin is practically worthless. There are 800 million TikTok users. Invest just $25. Once the stock hits $1, you’ll have 10 grand [$10,000]. Tell everyone you know.”
Google trends data reveals that people search for buying Dogecoin has even left behind the leading digital currency Bitcoin.
Crypto Exchanges’ Responds to DOGE’s Growth
Prominent exchange Bitfinex announced the listing of Dogecoin (DOGE) on its platform. Paolo Ardoino, the CTO at Bitfinex, said:
Also read:“Such wow! MegaDOGE on @bitfinex ! Release the gud boi!!!!!!!!!”
Another big name in the crypto industry OKEx opens up Dogecoin margin trading option and savings accounts option as well for users. Moreover, the exchange is also offering users “DOGE/USDT-margined perpetual swap trading pair.”
Jay Hao, the CEO at OKEx, said:
“DOGE is a very popular coin with sophisticated marketing and market potential that many traders will enjoy speculating on and we believe that it will bring additional liquidity to the exchange. As with any trading decisions, however, we always encourage traders to trade with caution and carry out their own research.”
After its remarkable growth, the cryptocurrency has caught the attention of prominent names in the market. Justin Litchfield, the CTO at hedge fund ProChain Capital, said:
“The whole currency was started as a joke to make fun of the financial system, which is bizarre to think about.”
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