OKEx CEO Jay Hao commented that DOGE enjoys healthy longevity and development and has features that cannot be found in many older altcoins, which is why the coin is not a joke. In our latest Dogecoin news, we take a closer look at his statements.
The OKEx CEO, Jay Hao made positive remarks about the popular meme cryptocurrency. While talking with Cointelegraph, he made clear that he has a positive view of the cryptocurrency despite it being a meme cryptocurrency:
“Despite showing the lighter side of cryptocurrency, it is not a joke and has shown healthy development and longevity.”
Hao explained that DOGE was born from a Litecoin fork in 2013, which makes it among the oldest cryptocurrencies. He also said that DOGE is used for tipping on Twitter and Reddit which prove that it can achieve speed transfers for micropayments which many cryptocurrencies cannot do still:
“The community and the sophistication of its marketing is admirable, in fact, that any altcoin can command so much attention shows a deep understanding of user psychology.”
Hao even approved the latest TikTok DOGE pump which was conducted earlier this month. The most popular video under the hashtag #DogeCoinTiktokChallenge had thousands of views and eventually led to a price increase in the asset. Hao said:
“Let’s all get rich! Dogecoin is practically worthless. There are 800 million TikTok users. Invest just $25. Once the stock hits $1, you’ll have 10 grand [$10,000]. Tell everyone you know. This type of marketing is truly extraordinary and shows how lower market cap coins are a lot easier to skyrocket the price. That a short video with someone saying ‘Let’s all get rich’ can double the price in just three days is really quite astounding. But that said, altcoin prices soaring is actually a matter of common occurrence and I’m not surprised by it anymore.”
Jay Hao recommended that you should trade sensibly and to invest in the amount of money that you can afford to lose but he did say that “with Bitcoin’s lack of volatility right now, people are looking to other altcoins to realize gains.” A few days ago, OKCoin’s chief marketing officer, Haider Rafique, explained that he believes the campaign already runs its course.
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