‘Let’s All Get Rich’—Teen TikTok Traders Want To Send ‘Joke’ Bitcoin Rival Dogecoin To The Moon
If this is your first time registering, please check your inbox for more information about the benefits of your Forbes account and what you can do next! The world of bitcoin and cryptocurrencies has been set alight this week by the sudden surge of dogecoin— a "joke" cryptocurrency that's doubled in value in the last two days thanks videos posted on controversial China-based app TikTok.
The dogecoin price rally was sparked by a viral TikTok video that's racked up almost 1 million views—with the likes of Barstool Sports' David Portnoy pushing it onwards. The doge meme is based on the Japanese Shiba Inu. The meme was turned into the "joke" currency Galante's previous videoalso promoting dogecoin, has been watched aroundtimes. Tell everyone you know. TikTok videos, usually short, tightly edited clips featuring predominately younger people and often set to music, can attract huge audiences even if the video creators have few followers.
TikTok's algorithm is good at picking up on what people like and promoting it to a wider audience, meaning that if a video is engaging there's a good chance it will get seen by a lot of people. TikTok, which has 37 million U. TikTok, which has been downloaded more than two billion times globally, was banned in India last week amid security concerns and has also quit Hong Kong after China imposed a new security law on the city. TikTok, now run by a former Disney top executive, Kevin Mayer, has said it would never share data with China.
But in the meantime, TikTok users continue to create, and watch, lots of dogecoin videos. There are now almost 10 million videos on TikTok with the hashtag "dogecoin," many with views well into the 10s of thousands. Meanwhile, the TikTok-inspired dogecoin rally caught the attention of Dave Portnoy, the founder of Barstool Sports who has turned to stock market day trading amid coronavirus lockdowns and massive share price rallies brought on by unprecedented intervention by the U.
Federal Reserve. It's a pump-and-dump. The dogecoin rally, somewhat resembling the bitcoin and crypto mania of latecomes after popular stock trading app Robinhood has seen massive uptake among young people in recent months—many of whom are out of work due to the severe economic downturn brought on by the coronavirus pandemic.
However, the dogecoin price is now only a fraction of the peak it reached in early Dogecoin, along with bitcoin and most other cryptocurrencies, have fallen sharply since hitting skyhigh values toward the end of The dogecoin price has almost doubled this week but the rapid rise is unlikely to hold, veteran A Twitter account associated with the cryptocurrency, dogecoin, also cautioned potential buyers to beware.
Make choices right for you, do not ride other people's [fear of missing out] or manipulation. Stay safe. Be smart. For those wondering if they should buy dogecoin now to try to get in on the action, Goodman has some stark words of warning.
I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict. I have covered the rise of bitcoin and cryptocurrency since and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself.
Follow me on Twitter billybambrough or email me on billyATbillybambrough. Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies. Please help us continue to provide you with free, quality journalism by turning off your ad blocker on our site. Thank you for signing in. I agree to receive occasional updates and announcements about Forbes products and services.
You may opt out at any time. I'd like to receive the Forbes Daily Dozen newsletter to get the top 12 headlines every morning.
Forbes takes privacy seriously and is committed to transparency. We will never share your email address with third parties without your permission. This is a BETA experience.When Billy Markus introduced this Luckycoin fork back init was immediately labeled as a crypto joke.
Generally, Dogecoin has been backed by an active online community, including after Markus departed from the project. Although Dogecoin is listed with a majority of the current crypto payment processors, and facilitates various charity drives, it does not maintain a reputation as a coin with transactional value amongst current market leaders in an ever-growing competitive space. Between there have been 6 Github releases, including one this year. Their repository displays that developers are clearly active, with a few more releases in the pipeline.
Sometimes the Dogecoin can be quite influential and surprisingly push the prices up out of nothing. CoinBeat Follow. CoinBeat is a community-driven, content and media platform providing news of industry innovations and projects to the Blockchain community. Gamedrop 6 update! Start date: 8th January Tokens available: 5, Tokens Won: 3, Tokens Left: 1, registered users: registered.
We built a crypto game and had to add APompliano as one of our skins!! Take a look at the updated Agareum roadmap to see what we have in store for you this year. Join Our Weekly Newsletter. Share Tweet. What is the future of the coin in and next year? Ethereum 2. You may also like. Comments Comments are closed.
CoinBeat Follow CoinBeat is a community-driven, content and media platform providing news of industry innovations and projects to the Blockchain community. Retweet on Twitter CoinBeat Retweeted. Reply on Twitter Retweet on Twitter 1 Like on Twitter 2 Twitter Reply on Twitter Retweet on Twitter 7 Like on Twitter 10 Twitter Reply on Twitter Retweet on Twitter 2 Like on Twitter 3 Twitter Reply on Twitter Retweet on Twitter Like on Twitter 2 Twitter Reply on Twitter Retweet on Twitter Like on Twitter 1 Twitter Dogecoin DOGE showed an amazing progress back in September when the coin was able to collect major gains due to the Dogethereum demo hype.
Back in September, although still away from its all-time high of around 0. However, we can now see the crypto trading at 0.
Additionally, Dogecoin was able to join the top 20 list during its individual rebound back in September when the market was being pressed by generally negative market trends, we can now see it taking the 24 th spot on the list. Can dogecoin reach 10 cents? In the worst case scenario DOGE could go below the value of 0. If DOGE survives the bearish trends duringthe next year should come with an opportunity for redemption.
Although the main dev team had left the Dogethereum development to another team that is set to bring this project to life, the project could still, boost the price of DOGE in case the final product is ready by In that case, Dogecoin could go up to the price of 0. Dogecoin has a strong community that is working for the general adoption and development of Dogecoin as an alternative method for transacting value.
Dogecoin dev team has a lot of plans even outside Dogethereum, regarding adoption of the currency, which is already being used as a payment method in various retails and online stores.
Dogecoin is a fun, new and rapidly growing form of digital currency. Cryptocurrency is completely anonymous, decentralized, and extremely secure. You can use it to buy goods and services, or trade it for other currencies both other cryptocurrencies or traditional currency like US dollars or Euros. Step 1: Get A Dogecoin Wallet. Step 2: Get Some Dogecoin at the best Dogecoin exchange. Step 3: Use Your Dogecoin. Step 4: Stay Up-to-Date. It could take several minutes before you get a share though.
It could take minutes before you get a share though. Mining Dogecoins with your GPU is the way to go nowadays. There are people who have several graphic cards set up to mine Dogecoins at the same time, so it might take you several days to get a considerable amount of Dogecoins with a single GPU.
You can experience how GPU mining works on your card by executing the corresponding file though. Write instead the names of the workers you created on your pool of choice and its URL:port so as you can mine Dogecoins for yourself this URL:port information is given to you when you make an account on a mining pool.
If you do not know how to join a mining pool then this may be a problem. Wait until you are fully synchronized with the network. Your computer resources will begin mining Dogecoins. It could take you a LOT of time before you find a full block. Or maybe you are extremely lucky and find one in one minute. Other miners exist which might suit your hardware better and increase your mining speed. Note 2: some antivirus programs consider all cryptocoin miners malware.
They are not! When they were found, antivirus companies labeled them as malicious software. Can Dogecoin reach 1 dollar? Can Dogecoin be the future of payments? Will Dogecoin ever go up ?A group of teenagers on the extremely popular but recently beleaguered social platform TikTok decided to use their voice and audience to move the price of dogecoin up. Why is this relevant? Because it is an irresistibly fluffy yet alarming symptom that trust is fundamentally broken in markets.
You can subscribe here. And much like the day traders picking stocks from a bag of Scrabble tiles, this does raise questions about the role of facts in our interpretation of value. We could be in the creative destruction phase that will give way to a new wave of innovation.
And in that wave, new types of assets could have a respectable place in new types of portfolios. Meanwhile, however, the untethered nature of current price logic is disconcerting, and a reminder that creative destruction can be vicious to those caught in the transition. Uncertainty is not good for trust, and a lack of trust is not good for progress. Maybe sanity will have been restored. These rumors are not new, but they have suddenly taken on a renewed relevance.
Earlier this week, Reuters reported on the plans, citing sources familiar with the matter. And Coinbase has called an investor meeting, sparking speculation as to why. Should this happen, it would be a big deal for the cryptocurrency industry, but not necessarily the boost many seem to think.
It would be a big deal for three main reasons:. This could put crypto, albeit indirectly, within reach of any investor, retail or institutional, and possibly give it a home in pension funds, exchange-traded funds, k s, etc. How would this boost the cryptocurrency markets? Increased mainstream attention could encourage more people to learn about cryptocurrency fundamentals, and possibly trigger a wave of new investment. Also, new funding from an initial public offering could mean further growth for Coinbase through a broader reach or a more extensive service.
Rather than an IPO, the move could merely represent a handsome exit for the initial investors through a direct listing. Even if so, however, it would set up a pipeline for further financing, which could influence growth further down the road.
And, this is even more important, a public listing of a significant company such as Coinbase would not necessarily encourage mainstream crypto exposure.
Investment would be going into a company, not the cryptocurrency market. True, the investment in that private company could encourage more investment in the cryptocurrency market further down the line, but the effect would not be linear.
It could even be a self-defeating proposition. The net effect of a Coinbase listing, or any other significant cryptocurrency business heading to the frothy stock markets, could be net positive for crypto assets. But it may not be the investment trigger many are hoping for. The hashrate metric is significant in that it is a proxy for network security — the higher the hashrate, the more computational power is spent on validating transactions and maintaining the network.
So, the hashrate reaching all-time seven-day average highs is being taken as a bullish signal by some. As we can see, usually after a hashrate peak, both price and hashrate fall over a seven-day and day timeframe.
But not always. But it should not be used as a trading signal without a lot of caution and additional information. I kid you not. The market has been alternating between fits of euphoria and depression.
With the highs higher than the lows, the net effect is up.The current price of Dogecoin is 0. The price of Dogecoin may drop from 0. The change will be See above. According to our predictions, this won't happen in near future.
According to our analysis, this can happen. Not within a year. Medad — Looking for a great 5 year investment opportunity in the smaller less expensive crptocurrencies with potential of massive upsurge in future. Can anyone help me Well done! Already a member? Sign in. Not a member?
Toggle navigation. Home Cryptocurrency Forecast Dogecoin. Current Price. Get It Now! Dogecoin predictions are updated every 3 minutes with latest prices by smart technical analysis. See Our Other Forecasts. At Walletinvestor. If you are looking for virtual currencies with good return, DOGE can be a bad, high-risk 1-year investment option. Dogecoin price equal to 0. Start NOW! Chart Pattern Recogniton Identify the most profitable chart patterns in seconds!
Set a candle. Dogecoin Target Price Dogecoin price target in 14 days: 0. Highest and lowest possible predicted price in a 14 day period.
Dogecoin Price Prediction - Dogecoin (DOGE) Price Forecast
Ads by Cointraffic. Pivot, Resistance and Support Levels. Calculation For Trading:. Bullish or Bearish? Based on the last 30 days. Will Dogecoin crash? Will Dogecoin hit 1 USD in a year? Will Dogecoin hit 5 USD in a year? Will Dogecoin hit 10 USD in a year? Bitcoin Price Prediction. Ethereum Price Prediction. Litecoin Price Prediction.Are you currently holding some Dogecoins and want to know what the future holds for the project?
This Dogecoin price prediction will begin by briefly explaining what Dogecoin actually is. This will be followed by the future of Dogecoin. Dogecoin is a peer-to-peer P2P open source cryptocurrency. It is classified as an altcoin and was founded in December with a Shibu Inus Japanese dog as its logo.
Will Dogecoin Be a Good Investment in 2020?
Dogecoin appeared informal in its method but is gaining wide approval for online transactions. It is a decentralized digital currency and uses P2P technology to accomplish its performances. Dogecoin is scrypt based i.
Dogecoin price seems to show correspondence to that of bitcoin in that it rises and falls with BTC.EVERYTHING You Need To Know About DOGECOIN
Its most distinct feature, however, is its mascot. It was introduced as a joke, but who knew it would become so significant in the crypto world. It is also used by retailers to receive payments.
The crypto has been in circulation since It is a great achievement for any altcoin as most of them lose their luster within a short span. Dogecoin has enjoyed low trading in its infancy. As we can see, till July ; the altcoin was changing hands at a low rate. Dogecoin has experienced some instabilities through its years of experience. At the end of JanuaryDogecoin reached a historical high of 2 cents its All-time High, and its capitalization exceeded one billion dollars.
The coin took an interesting turn in January A couple of less significant peaks happened in July and December. At the start ofthe popularity was around the same level as it was in the same period ofwhich is a major accomplishment in terms of the industry crisis, happening today. However, inthe cryptocurrency traded sideways for most of the year.
Dogecoin is very popular in the industry. Though it started as a joke coin, it has managed to hold its ground.
With the positive trend, DOge might be a good investment idea. The technical analysis using the algorithm says that the price of Dogecoin DOGE will not decrease or fall or drop in the long term.
Moreover, the coin may face turbulence, but the chances of a crash are less likely. According to technical analysts, the coin will definitely experience price fluctuations but, volatility will not impact this coin to a major extent.
Hence, the assumption is that for a long term basis, DOGE can be a good investment. What is your prediction on the Doge price?The bro influencers of TikTok, released into the wild with sick iPhone hacks and dropshipping tips but a few years ago, have matured from pups to the Wolves of Social Media. The plan is kinda paying off: As of this morning, Dogecoin had risen The leader is jamezg97, who started posting about the bid on June 28, and subsequently began the DogecoinTiktokChallange.
What if everyone watching this video bought some Dogecoin? Could they really stop us? Could they stop us all? A second videoposted five days ago and now with nearly half a million views, issues a bolder missive:. Dogecoin is practically worthless. There are million TikTok users. Tell everyone you know.
Krishnamsetty pointed to recent suspected schemes by experienced traders, who may have been baiting inexperienced Robinhood buyers by inflating stock prices of doomed companies but could argue that they simply believed the stocks were undervalued. But you can get rich, maybe. The A. Whitney Kimball. Filed to: tiktok. Whitney Kimball Posts. Share This Story. Get our newsletter Subscribe.
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