Did you know that Mia Khalifa helped drive up the price of Dogecoin with a single tweet? đ¶đ
On January 29, 2021, former actress and internet personality Mia Khalifa surprised the financial world by announcing on Twitter: "Okay, I caved and bought the dog stocks lmaoooooo," referring to Dogecoin (DOGE), the meme-inspired cryptocurrency. Her message went viral and coincided with a 500% increase in the value of DOGE, which reached an all-time high of $0.078 per unit.
Khalifa's endorsement joined those of other influential figures like Elon Musk and the Reddit community WallStreetBets, who also promoted the cryptocurrency. This collective phenomenon briefly propelled Dogecoin to become one of the ten most valuable cryptocurrencies by market capitalization.
Subsequently, Khalifa shared an image of a $20,000 donation to the Lebanese Red Cross. Although the price of DOGE experienced corrections after the peak, the involvement of celebrities like Khalifa highlighted the power of social media to influence financial markets.