TikTok hype triggers 100% Dogecoin rally-and Tron's Justin Sun wants in

Published on by Cryptoslate | Published on

Dogecoin has been on a hell of a rally over the past few days.

What's fascinating about this isn't Dogecoin's price performance, it's what triggered the brunt of the rally: TikTok.

Users of the social media application, which has grown to be one of the most famous in the world, have created the so-called "Dogecoin TikTok Challenge."

The premise of the challenge is to get everyone on TikTok to buy DOGE, thus increasing the price of the cryptocurrency by hundreds, maybe thousands of percent.

The TikTok challenge has spurred Youtuber Jake Paul, Bloomberg, Barstool Sport's Dave Portnoy, Keemstar, Gizmodo, and many other entities with large audiences to talk about Dogecoin as well.

The latest entrant: Tron.Tron and Justin Sun want in on the TikTok crypto craze.

There's no doubt that Tron and its founder, Chinese entrepreneur Justin Sun, are big on social media.

Although TRX could see an influx of mainstream popularity with the right TikTok trends and campaigns, the effect the social media platform had on Dogecoin's price action may be a one-time thing.

There's also the fact that Dogecoin is one of the only 18 cryptocurrencies on Robinhood, which is the only crypto platform that many TikTok users have easy access to.

Plus, DOGE has a culture around it that invites these weird challenges and social media mentions.