#dogecointiktokchallenge is a viral internet meme challenge that originated on TikTok and Twitter. The challenge encourages users to buy Dogecoin to get rich should the coin's price hit $1.00 USD. ^{[2] [1] [6] [14]}

TikTok user James Galante began urging his followers to buy Dogecoin in June 2020, claiming they could all get rich if enough viewers invested $25 in the coin. Since then, one of his videos has garnered more than 537,000 views,search interest increased, the challenge began trending on Twitter, and the crypto coin briefly hit its highest level since October 2018. ^[2]

"Let's all get rich!" Galante stated in a TikTok video he posted on July 2, 2020. "Dogecoin is practically worthless. There are 800 million TikTok users. Once it hits $1, you'll have $10,000. Tell everyone you know!" ^{[2] [3] [4] [5] [6]}

On Wednesday, July 8, 2020, DOGE's 24-hour trading volume reached over $878 million by 12:05 p.m. ET, marking a 683% leap from the coin's average volume over the past year. Its price surged as much as 71% on Wednesday as the hashtag #dogecointiktokchallenge gathered more attention. ^[2]

The Dogecoin's market capitalization went from under $295 million on July 6th to over $668 million on July 8th an increase of over $373 million and a percentage increase of over 136%. ^[10]

The challenge has also been called a pump and dump tactic. ^[2] The trend was even addressed by the official Dogecoin Twitter account on July 8, 2020. The account warned against impulsively joining the viral challenge and urged followers to be smart.

"Be mindful of the intentions people have when they direct you to buy things.

None of them are in the spot to be financially advising,".

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