The Dogecoin Price Just Keeps Going Up
The asset’s price has doubled over the past few days from $0.0023 to $0.0046, and it appears to have all begun with a simple TikTok video. TikTok user James Galante has put out a series of videos discussing the currency and telling all his followers to “get rich.”.
Despite all the positive hype and powerful price maneuvers that Dogecoin has been undergoing at press time, not everyone is convinced that something good will come of the situation. The TikTok videos urging people to bid up the doge price remind me of some of the world’s most blatant pyramid schemes, where the sales pitch typically goes, ‘Look, we all know this is a pyramid scheme that will collapse eventually, but you will be one of the winners who rakes in the cash, while only the later entrants will lose money… With no fundamentals to support it, the price of Dogecoin will only go up so long as the early buyers who are cashing out have new buyers to sell to.
DOGE |
$ 0.21721
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