This Cryptocurrency is Dogecoin and Reddit users turn to DOGE after GameStop surges 1,600% in 2 weeks
A transformation taking place in the DOGE ecosystem overnight on Jan. 27, with DOGE/USD hitting $0.0138.
In a matter of hours on Thursday, the pair added over 80% to its spot price before correcting, still holding 1 cent support at the time of writing.
The gains accompanied a similar surge in interest on social media, with Twitter activity up by more than 300%. The source, it appears, is the same Reddit group that sparked a dramatic but highly controversial bull run in the stock price of U.S. consumer electronics firm GameStop.
A parody Twitter account posing as the moderator for r/Wallstreetbets queried:
“Has Doge ever been to a dollar?”
So what this means is that at the present price of $0.0124 for a coin, if Dogecoin reaches $1 for a coin thats a mouth-watering increase of 8,000%. Can Reddites do this and how soon?
Subsequently, the hashtags #dogecoin and #dogecoininto1dollar began trending among users in the United States, referencing a long-held dream among the altcoin’s investors.
Dogecoin price licks GameStop’s heels
Dogecoin already has something in common with $GME (Gamestop’s), both assets having seen publicity tweets from Tesla CEO and world’s richest man, Elon Musk in recent weeks. As Cointelegraph reported, Musk’s tongue-in-cheek endorsement of DOGE was enough to induce serious price action.
This may be a good time to start accruing more Doge in your Crypto accet portffolio. What do you think?