Jay Hao — CEO of main crypto alternate OKEx — made optimistic remarks about meme cryptocurrency Dogecoin (DOGE).When answering Cointelegraph’s curr
Jay Hao — CEO of main crypto alternate OKEx — made optimistic remarks about meme cryptocurrency Dogecoin (DOGE).
When answering Cointelegraph’s current inquiry regarding new Dogecoin-related OKEx options, Hao made it clear that he has a fairly optimistic view of the cryptocurrency. He mentioned:
“Regardless of exhibiting the lighter aspect of cryptocurrency, it isn’t a joke and has proven wholesome growth and longevity.”
Hao defined that Dogecoin, which was born of a Litecoin (LTC) fork in 2013, is among the oldest cryptocurrencies. He additionally mentioned the best way DOGE is “used for tipping on Reddit and Twitter has proven that it will possibly obtain instantaneous switch for micropayments in a approach that not many main cryptocurrencies can.” Hao even acknowledged the advertising and marketing prowess of Dogecoin’s group:
“The group and the sophistication of its advertising and marketing is admirable, in actual fact, that any altcoin can command a lot consideration exhibits a deep understanding of consumer psychology.”
Hao approves Dogecoin’s controversial TikTok marketing campaign
Hao’s reward for Dogecoin’s community-driven advertising and marketing efforts follows a TikTok DOGE pump marketing campaign carried out earlier this month. The most well-liked video below the marketing campaign’s #DogecoinTiktokChallange mentioned:
“Let’s all get wealthy! Dogecoin is virtually nugatory. There are 800 million TikTok customers. Make investments simply $25. As soon as the inventory hits $1, you may have 10 grand [$10,000]. Inform everybody you understand.”
Barstool Sports activities founder, Dave Portnoy, just lately outlined the marketing campaign as a pump-and-dump, and referred to as Dogecoin “bubbly rosé.” Hao, then again, exhibits nice appreciation for the hassle:
“Any such advertising and marketing is actually extraordinary and exhibits how decrease market cap cash are so much simpler to skyrocket the worth. {That a} quick video with somebody saying ‘Let’s all get wealthy’ can double the worth in simply three days is basically fairly astounding. However that mentioned, altcoin costs hovering is definitely a matter of frequent incidence and I am not stunned by it anymore.”
Hao beneficial buying and selling sensibly and solely make investments the amount of cash that one can afford to lose, however admitted that “with bitcoin’s lack of volatility in the meanwhile, individuals wish to altcoins to comprehend buying and selling features.” Only a couple days in the past, OKCoin’s chief advertising and marketing officer, Haider Rafique, mentioned that he believes the marketing campaign has run its course.