A viral TikTok trend dubbed #DogecoinTiktokChallenge resurrected a virtually dead meme cryptocurrency from 2013: dogecoin.
TikTok user @jamezg97 posted a 10-second video on July 2 that calls on 800 million users to invest $25 into dogecoin when its price was $0.0023. His video has now amassed up to 800K views. The DOGE price rose over 50%, and is now at $0.0044. The goal is to inflate the coin’s price to $1.
Dogecoin was launched in December 2013 by programmers Billy Markus and Jackson Palmer as a joke. Since then, it has built a solid community on Twitter and Reddit, and has even gained support from SpaceX and Tesla CEO Elon Musk.
The Breakdown host NLW explains how social media has the power to re-memed a forgotten cryptocurrency.
Full story: https://www.coindesk.com/tiktok-let-the-doge-out-why-tiktok-doge-is-everything-about-2020-finance-in-one-story
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