Avid Dogecoin (DOGE) and Litecoin (LTC) supporters are likely responsible for the crash of a Canadian social platform website after the company announced its investment in DOGE and LTC mining. Dogecoin remains the epitome of the meme coin amid social media support from well-known personalities like Elon Musk and Mark Cuban.
Hello Pal website suffers from temporary downtime according to Dogecoin Mining News
According to an official announcement from Hello Pal on Thursday (March 11, 2020), the company’s website had to be temporarily taken offline due to the large number of visitors. The increase in traffic followed an announcement by the company to acquire a 15% stake in a mining company that exclusively mines Dogecoin and Litecoin.
In its press release, the Canadian social networking, e-learning and travel platform revealed that the DOGE / LTC mining farm is the largest in the world dedicated to mining these two cryptocurrencies. The data center reportedly has an output of around 70 megawatts and is home to over 90,000 oil rigs. The facility also reportedly accounts for between 3 and 5 percent of the LTC / DOGE hash rate.
Following the announcement, Hello Pal said website traffic had increased more than 1,000%, overwhelming its capacity and causing a temporary outage. However, the company’s streaming platform and app service did not experience any similar failures despite massive online activity.
Aside from the equity stake, Hello Pal has also reportedly increased its mining inventory and acquired 51% of the 12,500+ mining equipment for Litecoin and Dogecoin.
KL Wong, the CEO of Hello Pal, commented on the incident and focused on the positive aspects.
“The sharp increase in activity on our website and in the Hello Pal app confirms the clear position we have taken on both Dogecoin and cryptocurrency in general.”
Hello Pal’s mining investments in Dogecoin and Litecoin also represent an expansion of the crypto company. The Canadian company already offers its users a proprietary cryptocurrency wallet service.
The power of the meme
It may not come as a surprise to see a company announcing its stake in Dogecoin, which is sparking increased online visibility for the company. Although Dogecoin is a “meme coin,” it continues to enjoy cult following in the crypto arena and beyond. Celebrities outside the industry like Mark Cuban are tweeting about the Shiba-Inu-inspired cryptocurrency.
While Elon Musk is a well-known Dogecoin shill, the Tesla CEO recently raised concerns about the apparent centralization of cryptocurrency by owners. In the meantime, the large crypto ATM manufacturer CoinFlip has supported DOGE on 1,800 of its ATMs.
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