Bitfinex Lists Dogecoin After TikTok Fad Sends DOGE Price Over $0.005
Dogecoin sees fresh gains before correcting to $0.004 as Bitfinex appears to capitalize on TikTok excitement.
In a Twitter announcement on July 10, Bitfinex said that deposits were already available and that it would begin supporting Dogecoin at 8.30 am UTC the same day.
Dogecoin: Bitfinex â€œreleases the gud boiâ€�
The move caps a bizarre week for Dogecoin, which saw its value shoot up after a spontaneous publicity campaign involving users of social media platform TikTok.
Perhaps directly due to the attention that the campaign generated, Bitfinex stepped into the trading arena â€” Google data suggests that many new consumers are attempting to purchase DOGE as a result.
The move may have been responsible for more noticeable price gains. After TikTok, which led DOGE/USD to almost two-year highs, Thursday saw a fresh high of $0.0052 for the pair.
Since then, a reversal has taken place, with DOGE nonetheless managing to bounce off newfound support at $0.004.
For Bitfinex CTO Paolo Ardoino, there was little more to add. He tweeted:
â€œSuch wow! MegaDOGE on @bitfinex ! Release the gud boi!!!!!!!!!â€�
DOGE/USD 3-month chart. Source: TradingView
Shibes get their mainstream media moment
Meanwhile, Dogecoin even found its way into mainstream media this week, with Bloomberg noting the Google Trends numbers in a dedicated article.
â€œThe whole currency was started as a joke to make fun of the financial system, which is bizarre to think about,â€� the publication quoted Justin Litchfield, CTO of hedge fund ProChain Capital, as saying on Wednesday.
Google search interest in Dogecoin vs. Bitcoin. Source: Google Trends
According to Google Trends, the phrase â€œhow to buy Dogecoinâ€� significantly outperformed â€œhow to buy Bitcoinâ€� over the past seven days.
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