Dogecoin may have seen its all-time-high when Tesla billionaire Elon Musk promoted the cryptocurrency last month only to decline to its current level of 5 cents, but it’s not out of the running yet as it continues to find new adopters.
The Canadian-based tech firm Hello Pal, which announced buying an initial 15% interest in a dedicated mining facility for Litecoin and Dogecoin, said Thursday that its website had become overloaded with traffic due to the announcement.
The company, which brands itself as a “live-streaming, language learning and social-crypto platform” on its press release, announced an acquisition of a mining facility dedicated to the two cryptocurrencies and a 51% stake of at least 12,500 mining rigs, reports Coindesk.
"The sharp increase in activity on our website and the Hello Pal app validates the clear position we have taken on dogecoin as well as on cryptocurrency in general," said KL Wong, founder of Hello Pal.
Despite a decline in interest to Dogecoin since its February spike, its memetic qualities, the rise of WallStreetBets, and conversations about blockchain-based technology have helped to propel other forms of cryptocurrency into the limelight.
On Wednesday, GameStop stock saw a resurgence due to efforts by investors on Reddit's WallStreetBets community who conducted a "mega squeeze" of the stock in their on-going war with Wall Street hedge funds.
Join and support independent free thinkers!
We’re independent and can’t be cancelled. The establishment media is increasingly dedicated to divisive cancel culture, corporate wokeism, and political correctness, all while covering up corruption from the corridors of power. The need for fact-based journalism and thoughtful analysis has never been greater. When you support The Post Millennial, you support freedom of the press at a time when it's under direct attack. Join the ranks of independent, free thinkers by supporting us today for as little as $1.
Remind me next month
To find out what personal data we collect and how we use it, please visit our Privacy Policy
