Limitless Charm! Dogecoin Soars, Founder of Lending Protocol "Compound" Also Jumps In
In recent times, projects such as DeFi and governance tokens in the cryptocurrency market have attracted investors' attention as if they come with their own spotlight. However, an unexpected veteran cryptocurrency - Dogecoin - has emerged from the market, surging over 100% since July 6th, even prompting the founder of Compound to succumb to the magical meme power of Dogecoin and publicly announce on Twitter that he too has bought some Dogecoin.
Reflecting on the initial report on the 7th of this month, at that time Dogecoin's 24-hour surge had already exceeded 20%, reportedly sparked by a TikTok user named "James Galante" who posted a video 5 days ago with the title "Let's Get Rich Together." As of now, the video has garnered over 910,000 views, 73,000 likes, and over 5,900 comments.
Table of Contents
Compound Founder Also Joins In
The founder of Compound, Robert Leshner, publicly announced on Twitter yesterday that he has invested in Dogecoin. It is unclear whether he was joking, but Leshner mentioned that he will now pay attention to the possibility of assets rising due to TikTok promotion.
In addition to Leshner's statement, major mainstream exchanges have also rushed to list this trending altcoin, including FTX, OKEx, and Binance launching DOGE/USDT perpetual contracts. Bitfinex even listed MDOGE (MegaDogecoin), where one MDOGE token equals one million Dogecoins.
Justin Sun, the founder of TRON, who is always active in hype, also declared on Twitter the day before yesterday that he is determined to move to the TikTok platform in the future: "From now on, we will focus more on content creation on TIKTOK. Please continue to pay attention to #TRON short videos that will soon go viral."
Speculation and FOMO Should Be Cautiously Handled
Although he has also invested in Dogecoin, Compound founder Robert Leshner still reminds everyone: "Dogecoin is extremely volatile, do not engage in trading with high leverage multiples, otherwise you will regret it. The amount I purchased is just a daily entertainment expense that you can also afford."
In fact, many altcoins saw an increase of over 10% yesterday, and the crazy surge of Dogecoin even prompted the well-known trader Joe007 to comment humorously: "In my opinion, the Alt season (altcoin bull market) is really here, even these TikTok kids are buying this meme coin Shitcoin."