Did Dogecoin Lose Momentum Because Of Joe Exotic's Tiger King Crypto?

Dogecoin DOGE/USD is down over 15% for the week after a major backer of the coin — the YouTuber Matt Wallace — came out in support of another cryptocurrency Tiger King TKING/USD that was launched by Joesph Maldonado-Passage, better known as Joe Exotic.

What Happened: TKING soared a whopping 200.21% in a 24 hour period at press time to $0.00005493. For the week, the coin has shot up 1,871.05%.

The cryptocurrency is up 183.29% and 193.83% over 24 hours against Bitcoin BTC/USD and Ethereum ETH/USD.

In contrast, DOGE traded 5.47% lower at $0.20 over 24 hours at press time and is down 15.20% for the week.
See Also: How To Buy Dogecoin (DOGE)

Against BTC and ETH, DOGE has declined 4.87% and 1.31% respectively.

On Thursday, Wallace tweeted an audio clip supposedly from Exotic, a zookeeper serving a 22-year prison sentence and the main subject of Netflix Inc’s NFLX series “Tiger King.”

Why It Matters: Exotic claimed in the clip that he was the “first real celebrity to launch a cryptocurrency.” The now incarcerated Exotic claimed big names were coming aboard the platform.

This week, Wallace said that he was buying TKING “fast” and that the coin made up one of his three largest cryptocurrency holdings. The YouTuber said he would continue to support Dogecoin but many in the comments section suggested they were now investing in Tiger King cryptocurrency.

Earlier in March, it was reported that Tiger King non-fungible tokens or NFTs were released. The art sale involved Jeff Lowe, a former business partner of Exotic, and his wife Lauren Lowe.

Lauren Lowe claimed at the time that the couple was the only entity in the United States that held the Tiger King trademark, which was signed over to them in 2016 by Exotic.

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