Disclaimer: This article is not intended as investment advice. Seek a duly licensed professional for investment advice.
The meme coin Dogecoin is back in 2020. TikTok user @ jamesgalante created the following video which has now gone viral. Dogecoin is trending on TikTok and Twitter which has increased the price of Dogecoin by 100% over the past 24 hours. The video is encouraging TikTok users to pump and dump Dogecoin to $1 which is the best thing that has happened in the cryptocurrency world in all of 2020. TikTok has 800 million active users and 41% of TikTok users are aged between 16 and 24. Robinhood is the trading app of choice for young traders.
Robinhood currently supports 17 cryptocurrencies and Dogecoin is one of them. This is the first pump that has been powered by the viral power of Tiktok and the easy access to cryptocurrency that Robinhood provides.
This is the first major exposure that Generation Z has had to a cryptocurrency pump. Generation Z have used digital technology their entire life and are familiar with social media and the Internet. Generation Z could be the missing link between cryptocurrency and mainstream adoption of cryptocurrency. The current Dogecoin pump is an interesting phenomena that will expose an entire generation of people to cryptocurrencies and blockchain.
Where to buy Dogecoin?
Dogecoin could be bought on the Robinhood trading application or on Binance.