Home » Technology » Dogecoin or How TikTok teenagers evaluated bizarre coins

Dogecoin or How TikTok teenagers evaluated bizarre coins

In the case of cryptocurrency, which originated as a by-product of Internet humor, but there are no fundamental reasons for its growth. One of the users of the Chinese social network, nicknamed Jamezg97, came up with instructions for getting rich quick, which many other users seem to have caught.

And video, which has garnered almost a million views, advises investing in the otherwise virtually common Dogecoin. It is said that only $ 25 is enough, because if at least part of the 800 million account holders on TikTok followed this advice, even a relatively small influx of new capital would catapult the price of Dogecoin. And that is exactly what has happened in recent days.

How the Dogecoin course develops:


The virtual currency exchange rate climbed to about twice Monday’s value, but then began to decline as speculators began to take profits.

The total market value of all dogecoins in circulation increased by approximately two hundred million dollars (4.7 billion crowns) to almost 500 million dollars (11.7 billion crowns).


David Brzek: Nobody solves the profitability of companies much, but the technology sector will come under scrutiny

This is a typical example of a so-called pump-and-dump scheme. Speculators are trying to apply this to less common cryptocurrencies. In their case, such a course manipulation is relatively easy.

Dogecoin was founded in 2013. The purpose of its existence was, among other things, to bring a humorous element into the world of cryptocurrencies. “Doge” is one of the internet memes, ie widely shared and edited humorous collages.

Check out some of the internet memes from which Dogecoin is derived:

“It all started as a joke against the financial system,” claims according to Cointelegraph server Justin Litchfield of the ProChain hedge fund.

Digital coins benefiting from the popularity of images with a dog of the Japanese Shiba breed partially serve as collectibles. However, the Fortune portal is due to the unstopped amount of dogecoins imitates rather to the so-called penny stocks, ie shares with a value that is in the order of cents. Among other things, Jordan Belfort, whose life and career were portrayed by the film The Wolf of Wall Street, became famous for his manipulations.


What will bitcoin speculators stand for?  The half-fall in the price did not discourage them, it appeared in the show Let's Give It


Coronavirus damaged palladium.  Last year's investment hit was overshadowed by gold and bitcoin


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.