Jay Hao — CEO of main crypto alternate OKEx — made constructive remarks about meme cryptocurrency Dogecoin (DOGE).
When answering Cointelegraph’s latest inquiry regarding new Dogecoin-related OKEx features, Hao made it clear that he has a reasonably constructive view of the cryptocurrency. He mentioned:
“Regardless of exhibiting the lighter facet of cryptocurrency, it isn’t a joke and has proven wholesome improvement and longevity.”
Hao defined that Dogecoin, which was born of a Litecoin (LTC) fork in 2013, is without doubt one of the oldest cryptocurrencies. He additionally mentioned the best way DOGE is “used for tipping on Reddit and Twitter has proven that it might probably obtain prompt switch for micropayments in a method 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 reveals 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 campaign conducted earlier this month. The preferred 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 will have 10 grand [$10,000]. Inform everybody you recognize.”
Barstool Sports activities founder, Dave Portnoy, just lately defined the campaign as a pump-and-dump, and referred to as Dogecoin “bubbly rosé.” Hao, however, reveals nice appreciation for the hassle:
“Any such advertising and marketing is really extraordinary and reveals how decrease market cap cash are quite a bit simpler to skyrocket the value. {That a} brief video with somebody saying ‘Let’s all get wealthy’ can double the value in simply three days is basically fairly astounding. However that mentioned, altcoin costs hovering is definitely a matter of widespread incidence and I am not shocked by it anymore.”
Hao advisable 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 for the time being, folks 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 campaign has run its course.
