Benzinga | Jun 22, 2021 04:17PM EDT

Tostitos Goes After Dogecoin And Crypto Crowd With New 'Don't Buy The Dip' Promotion

Several companies have launched marketing campaigns aimed at the cryptocurrency crowd. A new campaign timed with the dip in Dogecoin could help boost brand awareness for a company.

What Happened: Dogecoin (CRYPTO: DOGE) has dropped in value over the last several days and is down significantly from its year high of $0.7376 that happened around the time Tesla Inc (NASDAQ:TSLA) CEO Elon Musk appeared on "Saturday Night Live."

A new campaign launched by Tostitos could take advantage of the dip in the price of Dogecoin.

"Today, you don't need to buy *this* dip. Because we might be giving it to you. Comment #TostitosBuyTheDip and you may bet some," Tostitos tweeted along with #buythedip.

A short video features a dog going to the moon on a rocket accompanies by the following script: "Thinking about buying the dip. Don't. Because we may give you the dip. Hodl and #buythedip."

Related Link: If You Invested $1,000 In Dogecoin On Jan. 1, 2021, Here's How Much You'd Have Now

Why It's Important: Tostitos, owned by PepsiCo Inc (NYSE:PEP), has more than 193,000 views on the video posted to Twitter. The video features a jar of chunky salsa called "Crypto Dip," which could be in stores or sent to responders on Twitter.

Tostitos has 46,700 followers on Twitter and could gain new users if it continues to post about Dogecoin and/or other cryptocurrencies.

Slim Jim, owned by Conagra Brands Inc (NYSE:CAG), increased its Twitter followers by 160% in a nine-month period by using Dogecoin memes in its social media. The company also said it had more than 35 million organic impressions on Twitter in a 25-day period.

Slim Jim's account continues to grow with 160,000 followers thanks to a large following in the crypto community.

DOGE Price Action: Dogecoin is trading at $0.1994 at the time of writing.

(Photo: Tostitos Twitter)