The price of Dogecoin dropped suddenly this week, losing about 20% of its value in just a couple of days. Its fall coincides with the rise of another altcoin – Tiger King cryptocurrency.
Everything started after Youtuber Matt Wallace, famous for being a huge Dogecoin proponent, announced he’s invested in Tiger King crypto (Tking).
Within hours from his announcement, the price of the new cryptocurrency went up in value by as much as 1,000%.
Doge or Tiger King – What’s Better?
Unlike Dogecoin that’s been around for several years, Tking is a brand-new cryptocurrency that’s only started its journey in May. Soon after it launched, the crypto was endorsed by an unconfirmed Twitter account, claiming to be “the official account for Joe Exotic.”
The endorsement didn’t do much for the novel crypto coin. In fact, its price only took off when Matt Wallace shared his opinion about it.
Wallace did switch his focus from Dogecoin to Tiger King coin, albeit only briefly. According to the man himself, he has no intention to sell his crypto possessions.
“I am still holding my dogecoin and bitcoin despite the recent drops,”Wallace said about his cryptocurrency plans.
The YouTuber also reaffirmed his position that Dogecoin is the future of crypto, saying that he believes it will become the future cryptocurrency of Earth.
The reason why he’s started buying Tking is that he sees it as a fantastic short-term investment. Wallace believes that its price is going to get even higher in the upcoming months.
Matt Wallace Expects a Tiger King Coin Craze in Near Future
Wallace’s reasoning is that Tking is going to skyrocket as soon as the second installment of Netflix’s documentary series hits the screens.
Although there’s still no official confirmation that the series 2 will see the light of the day, the chances are that it will happen next year. The reason for this is that the public demand for the Joe Exotic story is huge.
And it’s not just about the documentary series – the saga about the controversial tiger breeder will also see its fictionalized version. Actually, there are going to be (at least) two TV series telling the story of Joe Exotic, one of which is supposed to star Nicolas Cage.
The real Joe Exotic is currently in a prison, serving a 22-year sentence for animal abuse and attempted murder. The person he targeted for murder is his archenemy Carole Baskin, who’s also in the big cat business. Same as Joe Exotic, Carol Baskin also has her own cryptocurrency.
Named $CAT, Baskin’s cryptocurrency was launched in early May. The purpose of the cryptocurrency is to enable fans to buy merch from Big Cat Rescue, an animal sanctuary in Florida that’s run by Baskin.
According to Baskin herself, the $CAT cryptocurrency isn’t about investing. Instead, it’s meant to be a service for allowing people to give money to charity.