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

Jay Hao — CEO of main crypto change OKEx — made optimistic 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 relatively optimistic view of the cryptocurrency. He stated:

“Regardless of displaying 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 likely one of the oldest cryptocurrencies. He additionally stated the best way DOGE is “used for tipping on Reddit and Twitter has proven that it may possibly obtain immediate switch for micropayments in a means 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, actually, 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 campaign conducted earlier this month. The preferred video beneath 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 will have 10 grand [$10,000]. Inform everybody you understand.”

Barstool Sports activities founder, Dave Portnoy, not too long ago defined the campaign as a pump-and-dump, and referred to as Dogecoin “bubbly rosé.” Hao, however, exhibits nice appreciation for the hassle:

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

Hao beneficial trading sensibly and solely make investments the sum of money that one can afford to lose, however admitted that “with bitcoin’s lack of volatility in the intervening time, individuals need to altcoins to understand trading features.” Only a couple days in the past, OKCoin’s chief advertising and marketing officer, Haider Rafique, stated that he believes the campaign has run its course.

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