Day traders on viral video app TikTok are encouraging people to speculate on a joke cryptocurrency called Dogecoin. Based on an old Internet meme — an overly sincere and whimsically grammar-challenged Shiba Inu dog — the digital coin was developed as a Bitcoin-spinoff in 2013, after which it quickly rose to prominence as a gag. From a report: The shenanigans of the cryptocurrency-pumpers appear to be working, at least for now. The price of Dogecoin has nearly doubled since July 6th, rising 95% to $0.00448 from $0.0023, according to data from OnChainFX, a cryptocurrency data tracker. The price of Dogecoin peaked in January 2018 at $0.013 before promptly crashing. It appears a flood of stuck-at-home market hypers is behind the push to hype the cryptocurrency. “Go invest in Dogecoin, make me rich,” wrote one pumper. “They cant stop us all,” encouraged another. Yet one more: “worth it. i swear #stocks #coins #dogecoin #money”
of this story at Slashdot.
Source:: Slashdot