Home Dogecoin TikTok Traders Pumping Dogecoin Up to 95%

TikTok Traders Pumping Dogecoin Up to 95%

Investors have been using TikTok, a viral video application, to encourage people to join the hype by guessing the fun cryptocurrency that is called Dogecoin

TikTok Traders are Pumping Dogecoin, Price is Up 95%. iBase Trading.
iBase Trading Crypto News

Investors have been using TikTok, a viral video application, to encourage people to join the hype by guessing the fun cryptocurrency that is called Dogecoin. This was based on an old internet meme called Shiba Inu, which is overly serious and grammatically controversial. The digital coin was developed as a derivative of Bitcoin in 2013. For that reason, it has since quickly become famous as a joke.

A cryptocurrency-pumper, the shenanigans, has at least been seen to be functioning at the moment.

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According to data from cryptocurrency data tracker OnChainFX, the price of Dogecoin has nearly doubled since July 6, up 95% from $0.0023 to $0.00448.

In addition to that, the value of Dogecoin plummeted immediately after peaking at $0.013 in January 2018.

Dogecoin TikTok challenge

TikTok user @ jamezg97 uploaded one of the first Dogecoin pumping videos to TikTok at the end of June regarding the current jackpot. He encouraged people to go and invest in Dogecoin and get rich. He believes that no one will be able to cease the totality of the movement. Additionally, he wrote, “It’s worth it. I swear  # stocks # coins # dogcoin # money.” Behind the development of cryptocurrencies, there appears to be a flood of hyper-fixed currency in the domestic market.

@ jamezg97 added, if the currency were worth a dollar, it would make him reach.

Since then, the pumping has intensified. In a more recent video, which has garnered nearly 800,000 views since it was uploaded last week. @jamezg97 leads his audience through the math of speculative betting.

In his promotion, he speculates that Dogecoin is virtually useless. TikTok has 800 million users. Spend no more than $25.If the share price drops to $1, you get a 10-grand return.

The details in the video are that Shiba Inu is riding a rocket ship marked on a chart that suggests a rapid accumulation of wealth. Then there’s an excerpt from Squidward, the mean character that can be seen on the Nickelodeon TV show SpongeBob SquarePants, on his back and casting the spell “Future.”

The Dogecoin account itself broadcasts warnings. The admin wrote in a Twitter post that individuals should keep their intentions in mind when people recommend things to buy. None of them can provide financial advice. He also advised the media to make the right choice, stay cautious and be sharp. Avoiding other people’s FOMOs or manipulations will also secure their assets.

Git along, little Dogees

Dogecoin is equal to a junk penny. However, that didn’t stop the get-rich-quick bunkers from pushing this adventure forward. Booster believes that if you can convince enough people to buy, you can make a profit and sell before the price drops again.

The circulation means, buy cheap, raise the price, sell, and then let the ignorant ‘hold the bag’.

In contrast to Bitcoin, Dogecoin has no supply limit. There is no limit to the amount of Dogecoin that can enter the market. On the other hand, it has an effective inflation-guaranteed feature. This means that each Dogecoin tends to depreciate over time.

At the time of publication, there were over 125 billion Dogecoins on the market. It has an average of over 10,000 items added per minute. The bulk supply of Dogecoin tends to weaken the price action of speculators.

In contrast, there were 18 million bitcoins out of a possible 21 million bitcoins on the market at the time of issuance. Six-and-a-quarter Bitcoins enter the market every 10 minutes or so. This rate programs dividing every 4 years. Until the last Bitcoin is mined in 2140.

Proponents of “value investing,” a philosophy adopted by its leading practitioner, Warren Buffett, focus on giving advice to anyone looking at Dogecoin as an investment. Better go to hell with Doge.

“The views and opinions on this Crypto News Website are solely those of the authors and contributors. These views and opinions do not necessarily represent those of iBaseTrading or its partners.”

 

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Tanya Smith is an editor at iBaseTrading. With M.A. in Journalism and Mass Communication, she is pursuing her dream of creating a positive difference in the media industry. She also enjoys Fashion and Travelling.