Dogecoin is Listed on Bitfinex as TikTok Based Promotion Takes Price to $0.005

Popular cryptocurrency exchange Bitfinex is listing Dogecoin (DOGE) as enthusiasm about the meme-inspired altcoin keeps increasing. In a tweet, Bitfinex stated that deposits are already allowed and trading Doge based crypto pair is possible from 8.30am UTC.

Dogecoin has gone through a weird week, with its price skyrocketing by over 80% due to an unexpected promotion campaign using Byte dance owned social media platform TikTok.

It may be possible that Bitfinex has taken interest in Dogecoin due to the popularity it broughtforth. Goolge data indicates that several first time crypto investors are taking steps to buy Dogecoin.

The initiative seems to be the main reason for considerable price gains. After TikTok, which drove DOGE/USD to nearly 2-yr highs, yesterday witnessed new peak of $0.0052 for the crypto pair.

Afterwards the price has started retreating. At the time of writing this article DOGE coin was trading at $0.0037, reflecting a loss of 20.6% in the past 24 hours.

Paolo Ardoino, CTO of Bitfinex, there are some more details to be mentioned. He tweeted:

In the meantime, Dogecoin also hogged the limelight in mainstream media earlier this week when Bloomberg published a report on Google Trends.

The media outlet cited Justing Litchfield, CTO of ProChain Capital, a hedge fund, as telling “The whole currency was started as a joke to make fun of the financial system, which is bizarre to think about.”