Cryptocurrency exchange OKEx launched saving accounts and margin trading for meme cryptocurrency Dogecoin (DOGE).
According to an announcement shared with Cointelegraph on July 9, OKEx announced that leveraged spot trading, perpetual swap contract trading, and saving features will launch tomorrow for the meme-based cryptocurrency, Dogecoin.
OKEx did not answer Cointelegraph’s inquiry by press time.
Exchanges capitalize on the Dogecoin crazie
The announcement follows a recent Dogecoin viral marketing campaign conducted by its fans on social media video platform TikTok. The campaign apparently caused the coin’s price to surge by over 124% in just two days, according to data from Coin360. Volume at the time increased over 20 times and Google Trends revealed an increasing number of searches for methods to buy the altcoin.
The campaign used the “#dogecointiktokchallange” and “dogecointiktokchallenge” hashtags on TikTok. Following the surge, Barstool Sports founder, Dave Portnoy, went so far as to call the Dogecoin marketing campaign a pump and dump.
The Binance cryptocurrency exchange also announced that it will launch Dogecoin perpetual futures contracts tomorrow. Those contracts will allow up to 50 times leverage on DOGE trades.
Joseph Spezzano received a Masters Degree in computer science from The University of Massachusetts. Joseph has been working as a full-time blockchain programmer for the past 5 years. In his spare time, Joseph enjoys writing for CryptocurrencyInvestments.com and traveling.