The meme coin has made its way to TikTok as Dogecoin has created hype among the users as well as generating phenomenal gains this week.
This year, some companies were trying to create an opportunity for the COVID-19 pandemic through the use of blockchain technology.
However, a mystery TikTok user who goes by the username jamezg97 just posted 2 videos last week hyping the “joke” cryptocurrency.
The first video showed 2 screens on the price chart of Dogecoin along with “a crazy thought” if people started buying the meme coin.
A few days later, a second video was also uploaded by the same user and the video said:
“Let’s all get rich! Dogecoin is practically worthless. There are 800 million TikTok users. Invest just $25. Once it hits one dollar, you’ll have ten grand. Tell everyone you know.”
This was the time that the coin started to become viral through #DogecoinTiktokChallange. A few days after, Dogecoin spiked and the cryptocurrency community went ballistic this week as more TikTok users and crypto traders are joining the Dogecoin hype train.
This is the first time this meme coin spiked since its Binance listing last year. In fact, starting yesterday, this TikTok user is already encouraging his followers to inform the big names on Twitter.
#Dogecoin has now over 3 million TikTok views
A quick hashtag search on TikTok would suggest that #Dogecoin is suddenly making noise in the TikTok community hitting 3.6 million views as of this writing.
Furthermore, searching #Bitcoin in TikTok also showed that there are over 127 million views so it goes to show that the cryptocurrency community is thriving regardless of the platform.
Another video from jamezg97 just uploaded a few hours ago saying that Robinhood investors are purchasing Dogecoin and treating it as a “stock”. Verifying the TikTok post a quick Twitter search suggests that they are indeed buying in the Dogecoin euphoria.
— Excite (@ExciteUS_) July 8, 2020
“Tesla’s participation” may help Dogecoin reach $1
With Dogecoin trending this week, a lot of Twitter users are now convincing Elon Musk to get into the hype.
— UGLY OP 🗿 (@U7six3) July 7, 2020
— D.J. Moment® (@DJ_Mom3nt) July 7, 2020
Even one Twitter user is willing to donate to any charity if Elon Musk helps it bump the cryptocurrency to US$1 [AU$ 1.44].
— Matt Shriver (@MattShriver4) July 8, 2020
Since the Tesla CEO has also been a fan of the meme coin, it’s either he hasn’t seen the trend yet or he secretly bought already but he’s not telling his followers about it.
Dogecoin might be my fav cryptocurrency. It’s pretty cool.
— Elon Musk (@elonmusk) April 2, 2019
If Elon Musk does buy in the Dogecoin euphoria, then this might be the best thing that has happened in the crypto community. He did receive his big paycheck this year after successfully completing his SpaceX project.
In addition, he also plans on building another Tesla Giga factory outside China to accommodate more electric vehicles.
Crypto traders may want to take advantage of the trend or just wait if the Tesla CEO does participate in the Dogecoin mania.