After the viral TikTok video DOGE is on the rise. Currently, it is the 26th largest cryptocurrency by market cap. Dogecoin price has increased by nearly 15% within 24 hours.
After attracting many people in the past week, Dogecoin (DOGE) is still rousing the crypto sector. The recent growth in the Dogecoin price is a result of a viral TikTok video, posted by a James Galante. The trending video has gained over 6,000 likes in less than 24 hours and is approaching 6,000 comments. In the video, James said:
“Let’s all get rich. Dogecoin is practically worthless. There are 800 million TikTok users, invest just $25, once the stock hits $1 you have 10 grand, Tell everyone you know.”
The video titled “let’s all get rich!” has been trending for a week and has caused Dogecoin price and volume to increase drastically.
As of 7th of July, the coin was number 33 among the sector’s largest assets by market cap. On Wednesday, it became the 27th largest cryptocurrency and is now at number 26.
Dogecoin Current Volume and Price
Presently, the Dogecoin price has jumped by 14.47% in the last 24 hours, to $0.0044. With a 24-hour volume of $795,280,816, Dogecoin presently boasts a market value of $578,405,435. Yesterday, the Dogecoin price was at its lowest at $0.003061 and its highest at $0.005420. The coin’s current circulating supply is 125,325,377,439 DOGE.
Dogecoin is likely to surge further, as internet users seek knowledge on the coin. According to Google trends data, the global search for “how to buy Dogecoin” hit 100% on the 8th of July. This recent development is just within the seven days that the TikTok video has been uploaded.
Dogecoin Warns Investors
DOGE was introduced in 2013 as a “joke currency” by its founders, Billy Markus and Jackson Palmer. At the time of creation, Billy was a programmer from Portland while Jackson was a member of the marketing department of Adobe Systems.
Yesterday, Dogecoin took to their Twitter page to warn investors to “Be Smart.”
Be mindful of the intentions people have when they direct you to buy things. None of them are in the spot to be financially advising.
Make choices right for you, do not ride other peoples FOMO or manipulation.
Stay safe. Be smart.
❤️ #dogecoin
— Dogecoin (@dogecoin) July 8, 2020
Over the years, Dogecoin has had its share of losses. On December 22, 2013, it plunged by 80% due to China’s decision to stop Chinese banks from investing in the crypto industry. Dogecoin also experienced its first major breach when its online wallet Dogewallet was hacked. On December 25, 2015, millions of coins were stolen from Dogewallet.
Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.
