Dogecoin has gone through a weird week, with its price skyrocketing by over 80% due to an unexpected promotion campaign using Byte dance owned social media platform TikTok.
It may be possible that Bitfinex has taken interest in Dogecoin due to the popularity it broughtforth. Goolge data indicates that several first time crypto investors are taking steps to buy Dogecoin.
The initiative seems to be the main reason for considerable price gains. After TikTok, which drove DOGE/USD to nearly 2-yr highs, yesterday witnessed new peak of $0.0052 for the crypto pair.
Afterwards the price has started retreating. At the time of writing this article DOGE coin was trading at $0.0037, reflecting a loss of 20.6% in the past 24 hours.
. @Dogecoin is listed on Bitfinex!
MDOGE deposits are now open. Trading will start in one hour, at 8:30 am UTC.
Visit #dogecoin deposits page at ⬇️https://t.co/FUVxUJxBQs pic.twitter.com/uVDJUwXJds
— Bitfinex (@bitfinex) July 10, 2020
Paolo Ardoino, CTO of Bitfinex, there are some more details to be mentioned. He tweeted:
Such wow! MegaDOGE on @bitfinex !
Release the gud boi!!!!!!!!! https://t.co/JfhDJRpaRs— Paolo Ardoino (@paoloardoino) July 10, 2020
In the meantime, Dogecoin also hogged the limelight in mainstream media earlier this week when Bloomberg published a report on Google Trends.
The media outlet cited Justing Litchfield, CTO of ProChain Capital, a hedge fund, as telling “The whole currency was started as a joke to make fun of the financial system, which is bizarre to think about.”