Principally, there are a bunch of individuals on TikTok encouraging others to purchase Dogecoin. What’s Dogecoin, you ask? It’s a cryptocurrency — sort of like Bitcoin, solely Dogecoin was initially began as a joke. The identify itself is a reference to Doge, the Shiba Inu canine you’ve in all probability seen in meme kind everywhere in the web (relying on how outdated you might be).
Traditionally, Dogecoin has not been a really high-value cryptocurrency, though its worth has skilled some notable jumps over time. However in response to TikTok cryptocurrency followers, its low worth is precisely what makes it ultimate for investing proper now.
The thought is that whereas Dogecoin is affordable, a bunch of individuals can buy it, driving up the general market worth. As soon as Dogecoin worth hits $1 (if it hits $1), individuals plan to promote, making themselves some straightforward money with little or no effort. That’s sort of how cryptocurrency works, though it’s probably not as simple as some TikTok customers are making it sound. (Additionally, lots of people are referring to Dogecoin as a inventory, which is totally different from a cryptocurrency. So, that’s a little bit of a purple flag.)