An Oklahoma-based company just announced a global initiative to build a network of developers around DogeLabs’ blockchain research project. The press release went on to say that "DogeLabs.io announced a new initiative calling on development teams who may wish to partner with us in building a sort of decentralized network of Doge development teams across the globe." Shares of AppSwarm Inc. (OTCPK:SWRM) rallied on the news as traders speculated on the potential gains the company has within the space.
AppSwarm is an application development firm, which is engaged in acquiring and marketing applications for various devices. It offers complete, end-to-end services for mobile application development across all major platforms including Apple iPhone, RIM's BlackBerry, Google's Android, and Microsoft's Windows Mobile.
The company has developed a screening process called The Swarm. This selective screening process encompasses various stratums and allows the company to review each application idea it receives. Geographically, operation of the group is functioned through the United States and it derives most of the revenue from the source of app purchase, advertising, subscriptions, and sponsorship.
Traders were extremely bullish on the news as shares hit an early session high of $0.145/share (+31.82%) following the news. Based on the trending popularity of Dogecoin and the recent mentions by Tesla’s Elon Musk, this move could be an indication of things to come for this micro cap.
