Dogecoin has risen 26% after the viral video on TikTok
Dogecoin's 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 Moscow time. 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 cryptocurrency has declined, dropping to $0.00275. In the ranking, she shifted to 35th place.
Bittrex DOGE / USDT chart, Source: TradingView
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 viewers that Dogecoin currently costs almost nothing 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 74.1 thousand likes, 6083 comments and 27.2 thousand reposts. To make the prediction of the author of the video, DOGE needs to grow more than 43 times.
Recall that at the end of last year, a video with a mining farm became viral in TikTok.
In early July, TikTok was accused of mass surveillance of users and transferring data to Chinese authorities.