May 15, 2021

Why Dogecoin Grew 250% In Two Days

The most memorable cryptocurrency continues to gain momentum, with an army of fans growing every month. IN February we talked about why Dogecoin became so popular. Now this funky meme project is challenging established cryptocurrencies, breaking into the TOP-10 in terms of capitalization.

Why Dogecoin Grew 250% In Two Days

Image source: coinmarketcap.com

The popularity of the cryptocurrency was added by a joint action with the company Conagra Brands, which owns the Slim Jim brand. In a new advertising campaign, snacks have been added the image of ShibaInu.

Why Dogecoin Grew 250% In Two Days

Image source: coindesk.com

The army of Dogecoin fans could not pass by: there were calls in social networks to buy meat sticks and thus support the general excitement around the cryptocurrency.

Why Dogecoin Grew 250% In Two Days

Image source: www.reddit.com/r/dogecoin

After the inclusion of Shiba Inu in the advertising campaignConagra Brands' social media subscribers grew 160% in the quarter, and tweet views to an all-time 35 million. As CEO Sean Connolly admitted, the Dogecoin community played a big role in the rise in popularity of Slim Jim snacks in March.

Why Dogecoin Grew 250% In Two Days

Image Source: StormGain Cryptocurrency Exchange

And if Slim Jim's sales growth was driven by fansDogecoin, the coin's price skyrocketed after the publication of this story by Coindesk. In two days, the value of the cryptocurrency increased 2.5 times, and the annual growth exceeded 4300%.

The success of this collaboration will lead to the desire to use the Shiba Inu meme in other marketing campaigns, which will increase Dogecoin's awareness and drive the price of Elon Musk's favorite coin to new highs.

Analytical group StormGain