Jay Hao, CEO of Major Crypto Exchange OKEx, I’m making some positive comments about meme-based cryptocurrency. Dogecoin (DOGE).
When answering the last request from Cointelegraph about the new OKEx functions in connection with Dogecoin, Hao made it clear that he was pretty positive about cryptocurrency. He said:
“Although cryptocurrencies show the most relaxed side, it’s not a joke and has shown healthy development and longevity.”
Hao explained that Dogecoin, born in 2013 from a Litecoin fork (LTC), is one of the oldest cryptocurrencies. He said that too like that DOGE “is used to tap Reddit, and Twitter has shown that it can achieve instant micropayments in a way that many major cryptocurrencies cannot.” Hao even recognized the marketing skills of the Dogecoin community:
“The community and their marketing sophistication are admirable. In fact, any altcoin that can attract so much attention shows a deep understanding of the psychology of its users.”
Hao approves controversial TikTok campaign for Dogecoin
The praise of Hao This is followed by the marketing efforts made by the Dogecoin community The TikTok pumping campaign towards DOGE was carried out earlier this month. The most popular video in the campaign #DogecoinTiktokChallange He said:
“Let’s get rich! Dogecoin is practically useless, there are 800 million users at TikTok. Just invest $ 25, once the price reaches $ 1 you have 10 giants ($ 10,000). Tell everyone you know.”
The founder of Bar stool sport, Dave Portnoy, who recently defined the campaign as Pump and Dump, and called Dogecoin “pink sparkling wine”. Hao, on the other hand, shows great appreciation for the effort:
“This type of marketing is something really special and shows how much easier it is to determine the price of lower capitalization currencies. A short video with someone saying” Let’s get rich “the price in just three days doubling is really astonishing, but the rise in altcoins prices is actually quite common and is no longer surprising. ”
Hao recommended that you act sensibly and only invest the amount of money you can afford to lose. but he admitted that “Given Bitcoin’s lack of volatility, people are looking for altcoins to make trading profits.” A few days ago, the marketing director was for OKCoin Haider Rafique said he believed the campaign had ended.