Gains from a fresh viral campaign in support of DOGE on TikTok lead to an appeal to speculators from the @Dogecoin account.
Meme-based cryptocurrency Dogecoin (DOGE) is warning traders against speculation after its price gained 50% in 24 hours.
In a tweet on July 8, the controller of the @Dogecoin Twitter account appealed to buyers to “be mindful of the intentions people have when they direct you to buy things.”
Dogecoin to traders: Stay safe, be smart
DOGE has shot up in recent days thanks to a publicity campaign involving viral videos on Chinese social media network TikTok.
Volume has increased more than 2,000%, while Google Trends confirms a flood of interest in how to purchase the altcoin, now 27th in the world by market cap.
As Cointelegraph reported, the excitement appears centered around trends dubbed “#dogecointiktokchallange” and “dogecointiktokchallenge.”
TikTok users are posting videos of trading and performance, inviting others to join them.