Dogecoin (DOGE), a meme-based cryptocurrency, warns traders of speculation after the price has risen 50% in the past 24 hours.
In a tweet from July 8, the controller of the Twitter account @Dogecoin, He urged buyers to “take people’s intentions into account when instructing them to buy things.”
Dogecoin for traders: stay safe, be smart
DOGE has exploded in the past few days thanks to an advertising campaign that includes some viral videos on the Chinese social network TikTok.
The volume has increased by over 2,000%, while Google Trends confirms an avalanche of interest in buying Altcoin. This is now number 27 in the world by market cap.
As Cointelegraph reported The emotion seems to focus on the trends “#dogecointiktokchallange” and “dogecointiktokchallenge”.
TikTok users post trading and performance videos and invite additional users to join them. With hundreds of thousands of views, a video even calls the markets to bring it to USD 1 for DOGE / USD.
At the time of this release The pair was trading at a much more modest price of $ 0.042, the highest since October 2018.
DOGE / USD price chart. Source: CoinMarketCap
For @Dogecoin, however, the mood was definitely not that of a festival.
“Think about the intentions that people have when they tell you to buy things. None of them are available to provide financial advice. “ said the tweet on Wednesday.
“Make the right decisions for yourself, don’t join FOMO or manipulate other people. Stay safe. Be smart. “
TikTok beats Elon Musk as a Dogecoin ambassador
TikTok has already managed to generate significant profits for DOGE owners who even exceed the influence of people like Elon Musk. which started earlier this year to express curious support for Altcoin.
Dogecoin could be my favorite cryptocurrency. It’s very cool, ” tweeted in April in response to the Twitter account @Dogecoin, which asked him to become CEO of Dogecoin.
Dogecoin is a hard fork from Litecoin that was introduced in late 2013. Your creator, Jackson Palmer has publicly confirmed that cryptocurrency is a “joke”, something that the episodic enthusiasm among buyers could not calm down.
In January 2018, during an altcoin boom that saw many new all-time highs, Palmer published an article in the tech news magazine Vice titled: “My prank cryptocurrency has reached $ 2 billion and something is wrong.”