Dogecoin (DOGE), the 26th largest cryptocurrency by market cap, has been trending over the past few days after a $1 per DOGE “TikTok challenge” was initiated by a supposed Dogecoin community member.
Jason Williams Showcases Interest in Buying Dogecoin (DOGE)
Virtually every member of the cryptocurrency ecosystem, including a number of crypto big guns, are shifting their attention towards a token that was created out of meme, Dogecoin (DOGE).
The Morgan Creek co-founder, Jason Williams, who is one of the latest of the popular personalities that have shown interest in the sudden turnaround of DOGE, is coming with a desire to hold the cryptocurrency.
Williams recently took to Twitter to inform the crypto community about his decision to buy DOGE. He also called on the Twitter CEO, Jack Dorsey to add Dogecoin’s emoji as it’s added for Bitcoin (BTC) and Tron (TRX).
Jason Williams tweeted, “I’m buying Doge. When emoji? Jack.”
— Jason Williams 🔴 (@JWilliamsFstmed) July 9, 2020
Recap of the Degecoin (DOGE) TikTok Challenge
The viral video that came under the hashtag #DogecoinTiktokChallange was started by a user identified on TikTok as jamezg97. At the time of publication, the video has garnered over 800,000 views on the video-sharing social platform.
Ever since the challenge emerged, the price of the digital token DOGE has not lingered from experiencing a positive trend. This has also aided the meme token to displace a number of tokens in its chain.
Below is the post that started the rally:
“Let’s all get rich! Dogecoin is practically worthless. There are 800 million TikTok users once it hits 1 dollar, you’ll have $10,000. Tell everyone you know,” jamezg97 shared.
There Is 600% Increase in Doge’s Trading Volume from July 6 to July 7
Since the TikTok challenge commenced, every number around Dogecoin (DOGE) has drastically increased.
As the Doge mania gripped the cryptocurrency markets, the trading volumes among venues supporting the digital currency rose to $27 million, which is 22 times the average daily trading volume in 2020. Notably, there was a 600% increase from 6th July to 7th July.
The cryptocurrency now occupies 26th position according to CoinMarketCap. At press time, DOGE is trading at $0.004445, with a relatively 7% price upsurge in the last 24 hours.