Home Coins Litecoin (LTC) Dogecoin Is 'Not a Joke,' Says OKEx CEO Jay Hao

Dogecoin Is ‘Not a Joke,’ Says OKEx CEO Jay Hao

Dogecoin Is Not a Joke Says OKEx CEO Jay Hao

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 options, Hao made it clear that he has a reasonably constructive view of the cryptocurrency. He stated:

“Regardless of displaying the lighter aspect of cryptocurrency, it isn’t a joke and has proven wholesome growth and longevity.”

Hao defined that Dogecoin, which was born of a Litecoin (LTC) fork in 2013, is among the oldest cryptocurrencies. He additionally stated the best way DOGE is “used for tipping on Reddit and Twitter has proven that it might probably obtain immediate switch for micropayments in a approach 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 truth, that any altcoin can command a lot consideration exhibits 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 marketing campaign performed earlier this month. The preferred video underneath the marketing campaign’s #DogecoinTiktokChallange stated:

“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 may have 10 grand [$10,000]. Inform everybody you understand.”

Barstool Sports activities founder, Dave Portnoy, lately outlined the marketing campaign as a pump-and-dump, and known as Dogecoin “bubbly rosé.” Hao, alternatively, exhibits nice appreciation for the hassle:

“This kind of advertising and marketing is actually extraordinary and exhibits how decrease market cap cash are lots simpler to skyrocket the worth. {That a} quick video with somebody saying ‘Let’s all get wealthy’ can double the worth in simply three days is actually fairly astounding. However that stated, altcoin costs hovering is definitely a matter of frequent incidence and I am not shocked by it anymore.”

Hao really helpful buying and selling sensibly and solely make investments the sum of money that one can afford to lose, however admitted that “with bitcoin’s lack of volatility for the time being, folks want to altcoins to appreciate buying and selling beneficial properties.” Only a couple days in the past, OKCoin’s chief advertising and marketing officer, Haider Rafique, stated that he believes the marketing campaign has run its course.

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