How did TikTok take Dogecoin’s price to an all-time high?

A certain Dogecoin prediction has single-handedly motivated the crypto markets within the last 24 hours. Dogecoin price began making some waves after some TikTok users decided to “pump it to $1”. Since then, Dogecoin has gained about 80% for the last 7 days. 

Since Tuesday, Dogecoin’s value rose from the $0.0030 area to a peak of $0.0047. Although the move up seemed brisk and energetic, there has been a little fall which signifies some selling pressure set in. 

Dogecoin Price broke the resistance level at $0.0045 but is now seeking to find support at the $0.0040 level. 

Dogecoin value is currently hovering at $0.00404 after gaining around 50%  within the last 24 hours. The top cryptocurrency seemed to ignore a bull market which began around 24 hours ago in which bitcoin was able to cross the $9.3k mark. 

Dogecoin price seems to show correspondence to that of bitcoin in that it rises and falls with BTC. At the moment, dogecoin has a market capitalization of $513.8 million, and over $660 million has been exchanged in volumes on the last day. 

Dogecoin Price Moons Due To A TikTok Challenge

Recently, Dogecoin news about a week ago, started that some younger generations of Tiktok users started a life-long challenge to moon Dogecoin to $1.

 According to the challenge tagged “Let’s all get rich”, these influencers are promoting Dogecoin with exclusive videos which in turn, are instigating drastic market traction. Within a span of one week, the coin has grown at around 85% and touched a record of $0.0047 within the last day. 

This Dogecoin news stated that some generations of influencers seem to all agree that Dogecoin’s value is practically worthless and that the power of social media could be used to revive any dying force.

 With one of the videos having the caption “you cannot stop us all”, many others keep uploading screenshots and shot videos of Dogecoin trades and price movement. 

Also read, The story behind Dogecoin

Community Reaction To The Doge News

Few influencers are showing interests and supporting the notion. Though many did not directly pronounce Dogecoin a great investment, they did voice support for the youngsters who have initiated such a challenge. 

According to the Twitter user; ” The Crypto Dog“, the young generation has taken the baton, while also voicing support for the Dogecoin prediction.  

Further agreements to this tweet by respondents believe that the future of any crypto lies in the hands of social media influences. 

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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