December 17, 2020

Open Source Intelligence

OSI World News

TikTok Users Hyping Joke Cryptocurrency, It’s Working

Day traders on the app TikTok are encouraging people to speculate on a joke cryptocurrency called Dogecoin. Based on an old Internet meme, the cryptocurrency was developed as a Bitcoin-spinoff in 2013, after which it quickly rose to fame as joke.

Despite the gag, Dodgecoin has nearly doubled in value since July according to data from OneChainFX, a cryptocurrency analytics tracker.

According to OneChainFX, Since July 6th Dodgecoin has risen 95%.

Cryptocurrency has gained momentum since the coronavirus pandemic, the idea of exchanging cash or coin seems archaic and potentially dangerous; even merchants at Philadelphia International Airport are refusing cash and only accepting debit or credit cards.

“Go invest in Dogecoin, make me rich,”

Social media user hyping dodgecoin

Perhaps it’s due to stuck-at-home covid market hypers, they have been pushing the cryptocurrency or hyping as the coronavirus continues.