After the TikTok pump last year, dogecoin (DOGE) is now seemingly being pumped by another online community. This time, it might be related to the r/wallstreetbets subreddit, with 4.6m (was around 2m yesterday) users, responsible for the GameStop pump this month. (Updated at 15:50 UTC: updates throughout the entire text.)
Updated on January 29: Dogecoin Blasts Into Top 10, And Leaves
Early Thursday morning (UTC time), DOGE skyrocketed by around 75% in less than two hours, hitting USD 0.0136, before crashing to USD 0.0106 (07:36 UTC). However, later, the rally started again and pushed the price to its new all-time high of USD 0.024 before starting to move down again.
At the time of writing (15:43 UTC), DOGE, now the 17th largest (was the 33rd earlier today) cryptoasset by market capitalization, trades at USD 0.0219 and is up by 191% in a day.
DOGE price chart:
The rally coincided with this question on Twitter:
@WSBChairman Get $DOGE to the moon Mr. Chairman person man.
— Goldenboy (@GoldenboyFTW)
“WSB Chairman” claims to be the “Chairman of WallStreetBets” and has over 485,100 followers on Twitter (it was 341,700 several hours ago).
After DOGE skyrocketed, the author of the post followed with a question: “Has Doge ever been to a dollar?” During the TikTok pump last summer, the goal was also to push up the price of DOGE to USD 1. DOGE reached its all-time high of USD 0.01759 in January of 2018, per Coingecko.com data.
The TikTok pump last summer vs. the first hours of the pump today:
And all this DOGE story started with a question: “Anybody own bitcoin?”
@WSBChairman WSB + Tesla + Bitcoin = Wall Street nightmare
— Pomp (@APompliano)
Which was followed by more BTC-related conversations:
@tyler Does Bitcoin fix this?
— WSB Chairman (@WSBChairman)
@WSBChairman A short squeeze on #Bitcoin is the way to break the fiat system.
— Robert Breedlove (@Breedlove22)
BTC trades at USD 31,918 and is up by 7% in a day, trimming its weekly losses to less than 10%.
lol so now WallStreetBets is trying to pump $DOGE…has the whole world gone mad?
— Riccardo Spagni (@fluffypony)
$DOGE will lure WSB to Bitcoin
— Brandon Quittem (@Bquittem)
The cheapest coin on Robinhood is $DOGE which Wall Street Bets is pumping the shit out of right now
— LilMoonLambo (@LilMoonLambo)
We are reaching the meme singularity tbh https://t.co/pjY5B8CSOJ
— Cantillon (@Cantill03506196)
I have never EVER won a doge trade so I’m not fucking playing. Have fun staying profitable without me you fucking dicks FUCK
— KING CO฿IE (@CryptoCobain)
— Loma (@LomahCrypto)
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