TikTok is the new destination for those who invest in bitcoin and cryptocurrencies

The hit and run video social network hosts communities interested in the future of cryptocurrencies. And right on Tiktok the Dogecoin has doubled in a short time its prices

Photo Pixabay If a few days ago you were on TikTok, it is likely that you have seen some videos on Dogecoin, a minor cryptocurrency born from a Litecoin rib, whose logo graphically refers to the dog Shiba Inu (an internet meme). The unusual thing is not so much that there are videos on a cryptocurrency on TikTok, as the fact that those videos have pushed the dogecoin prices to double (from 0.002 to 0.005 euro cents), consequently increasing the volume of its transactions of 2000%.

The challenge

Conceived as a challenge, a challenge to the tiktokers so that by purchasing dogecoin they would raise its value towards the 1 dollar share (#dogecointiktokchallange and #dogecointiktokchallenge), the campaign was based on the publication of viral videos by some users, who, in real time showing the good performances of the currency, pushed others to participate, generating the typical cascading effect of social media.

Now, that a criptovaluta double his price with a viral campaign on the social is a fact quite new. Even the bitcoin never arrived to so much. Indeed, one can say that the social web has even penalized, since between 2017 and 2018, is booming, Google and Facebook banned advertising related to the criptovalute contributing to the bursting of the bubble. In addition, the campaign has made splash in the high prices of dogecoin was not created by someone close to his community, so much so that by the account @dogecoin Twitter party alert: “ beware of the real motivations that lead people to tell you to buy the goods. None of them has expertise in the financial field. Make the right choice, do not pay attention to the Fomo (Fear of missing out, ndr) of others or to the manipulation attempts. Be cautious, use your brain ”.

Therefore, to pump the dogecoin may have been a group of speculators wishing to sell their own currencies at the right time, so to gain from it. Goal-centered: the video brought to dogecoin even more on luck of the endorsement of Elon Musk, who in April 2019 twittava: “ Dogecoin may be my criptovaluta favorite. It is a blast ”. Despite its authority, Musk has not had the same effect of TikTok.

New investors

The question is not trivial because it is about social that according to the experts, shake it concealed the army of the future investors in criptovalute. According to a report published in the provider industry indices Stack Funds a change in the demographics of the investors may, in fact, take soon the price of bitcoin to new levels. Using data from the Coin Dance , a site that specializes in the statistics of the bitcoin, the report found that 50% of the investors in bitcoin are millennial . “ The generation of millennial – reads – is entering the age of maturity of the investments, and technology experts will be leading a significant change in the demographics of investors, increasing the propensity to invest in bitcoin “.

To give assistance to this theory, there is also a poll of investment bank Morgan Stanley , according to which over 80% of investors in millennial wants to do it in a way that is socially conscious, that is, prefer to invest their money in projects that have a positive impact on the world and on society . And TikTok, who for now has not closed the doors to the criptovalute may be the social from which to educate new investors, focusing in particular on the generation Z , who now seemed to be less sensitive to the seduction of the virtual currencies. It is not a coincidence that TheWolf of bitcoin , one of the mini-influencer in the industry, on Instagram should settle for a little more than 40 thousand followers, while on TikTok has more than double and some of her videos exceed one million views. Even without the ballet.