Kataryna Kovtun July 7, 2020
Dogecoin market value has grown by 26% in a few hours. Shortly before this, a viral video appeared on the TikTok social network, offering to invest in DOGE and get rich.
The rapid growth of the coin began on the night of July 7 and lasted until 6 am. Quotations soared from $ 0.00229 to $ 0.0029 per day. DOGE’s capitalization grew by $ 70 million, which allowed the coin to rise to 33rd place in the cryptocurrency rating. To date, the value of the cryptocurrency has declined, dropping to $ 0.00275. In the ranking, it shifted to 35th place.
Trading volumes for this period more than doubled, from $ 63 million to $ 152 million.
Five days ago, a video uploaded by James Galante appeared on TikTok. It begins with the words “let’s get rich.” In the video, he informs the audience that Dogecoin is currently practically worthless and encourages everyone to invest $ 25 each. According to him, this will increase investments to $ 10,640 when the price of a coin reaches $ 1.
At the moment, the video has collected 57.8 thousand likes, 4360 comments, and 19.1 thousand reposts. To predict the author of the video, DOGE needs to grow more than 43 times.
Despite the comic start, the coin survived the worst of times, including the 2018 bear market. Dogecoin not only survived but also developed, becoming one of the top 40 cryptocurrencies. This recent pump and dump returned Dogecoin to traders’ radars, which could provide a future bullish move.