During the days of the challenge launched on TikTok to boost the price of Dogecoin, Justin Sun also seems to want to board the running train.
In a tweet, the CEO of TRON has announced that he will focus much more on TikTok, where he will upload videos ready to go viral.
— Justin Sun (@justinsuntron) July 8, 2020
Justin Sun did not overlook the success of the campaign. Sure, Dogecoin is still far from worth $1, as intended by the user who launched the challenge. However, the impact was significant, with the price of DOGE actually rising from 2 to 4 thousandths of a dollar.
Actually, during the night of July 7th, Dogecoin was worth 5 thousandths, half of its absolute all-time high of one cent, which was reached during the speculative bubble in January 2018.
For sure Dogecoin gained one thing, although not measurable: unexpected popularity. Not that Dogecoin was unknown, but in these days it has become a trend on Twitter and TikTok, and has seen its searches on Google soar, as shown by the data on Google Trends.
Like Dogecoin: Justin Sun’s crypto on TikTok
Perhaps impressed by the 818 thousand views of the hashtag #dogecointiktokchallenge, Justin Sun is ready to use the social network for his products as well.
First and foremost Tron, but a tweet today suggests that BitTorrent may soon ride the TikTok wave too.
— Justin Sun (@justinsuntron) July 9, 2020
It was the exchange Gate.io that launched the challenge and asked users which crypto would soon go viral amongst Stellar, Cardano, BitTorrent and Holochain. It was inevitable that Justin Sun would side with BTT.
Cardano, on the other hand, doesn’t need social networks considering the price increase of these days. A vertical rise resulting mainly from new infrastructure developments rather than massive promotional campaigns on social networks.
Is it worth buying a cryptocurrency just because it’s trending? Not really.
It is no coincidence that the Dogecoin team itself has distanced itself from this campaign with a tweet that encourages users to be careful.
And in fact, the growth in value of cryptocurrencies is determined by many factors. It’s certainly not enough to launch a challenge on TikTok.
After all, the value of Dogecoin, while still benefiting from the challenge, already seems to “deflate”. If yesterday its increase was 50%, today it registers a 10% rise, certainly impressive but that presages the end of the pump effect.
There remains an indisputable factor, one that Justin Sun is chasing now: virality, which is not measured in money.