Forget dance challenges, TikTok users have moved onto a more serious subject, now urging others to invest in Dogecoin and increase its value.
Some of January’s most popular TikTok challenges have been the Buss It trend, Sea Shanties and the viral Silhouette Challenge, and they continue to take over the app.
But over the past day, a new type of video has taken TikTok by storm, and everyone is now talking about Dogecoin. Gen-Z has turned into investors, and are urging everyone on the app to buy into the stock market.
So what is Dogecoin? And why is everyone talking about it on TikTok? Let’s find out…
Dogecoin is taking over TikTok
The latest big TikTok trend is something pretty unexpected. No, it’s not a dance challenge or a new food hack, TikTok users have suddenly become financial advisors and are urging everyone on the app to invest their money into Dogecoin.
Dogecoin is a cryptocurrency that was started in the United States as a joke, based on the ‘doge’ meme that became popular in 2013. The meme is a picture of a Shiba Inu dog, and it’s become the face of the currency.
Over the past day, Dogecoin has taken over TikTok. Suddenly, every caption you see says the word “Dogecoin” in it, usually alongside a series of rocket emoji’s and the phrase “take Dogecoin to Mars”, and the hashtag #dogecoin is being used everywhere.
What has happened to Dogecoin?
As it was created as a joke, Dogecoin was always practically worthless. But, if thousands of people suddenly invest, its share prices would start to increase, which is exactly what has happened.
Dogecoin surged more than 800% on Thursday (January 28th) to roughly $0.082 per coin. That gave it a market value of $7 billion, meaning anybody that held shares in Dogecoin would have made some money.
However, in the grand scheme of things, that price is still pretty low, and the price would need to surge to at least $1 per coin for everybody to actually get rich.
So, as its stock price continued to increase, Gen-Z took to TikTok in their thousands to urge others to invest and make its value skyrocket even further, which is why Dogecoin has taken over TikTok.
Twitter users react to Dogecoin TikTok
As TikTok users watched Dogecoin take over their ‘For You’ page, a number of people have taken to Twitter to react.
One person tweeted: “I Like ONE Tik Tok Video About Stocks, Now EVERY SINGLE VIDEO THROUGH MY FYP ARE NOTHING BUT STOCKS, DOGECOIN, GAMESTOP, ROBINHOOD, Etc.”
Others think the best way of encouraging TikTok users to invest in Dogecoin and make its price soar would be to turn it into a TikTok challenge.
With 500 million users worldwide, TikTok is one of the most popular social media platforms right now, and users are certain that if Dogecoin continues to go viral on the app, enough people will invest to increase its value.
Will it actually work? Only time will tell.