DOGE’s enormous growth surprised everyone!
The WallStreetBets movement has set its sights on Dogecoin (DOGE) after GameStop, and it seems like they got what they wanted. DOGE rose over 900% in less than 24 hours.
The WallStreetBets Movement That Elevates DOGE
WallStreetBets started out as a group on Reddit and was actually a group discussing stock and options trading. However, the group, which grew and increased its participants, caused a huge increase in GameStop shares in the past days. The group that targeted Dogecoin after GameStop achieved its goal.
The members of the group are often young individual investors who ignore basic investment practices and risk management techniques, and therefore their activities are considered gambling. In addition, the community is often known for its abusive and dynamic nature, and they often call themselves “autists” and “degenerate”.
Dogecoin was originally launched as a “meme coin” , a kind of joke coin, but things did not work as expected and DOGE somehow managed to hold on to the market. In addition to these, the tweets shared by Elon MUSK, who has the title of the richest person in the world, about DOGE caused increases in the price of DOGE from time to time. However, no increase has been greater than the last 22 hours. For detailed information about Dogecoin, “What is Dogecoin?” You can find in our text.
DOGE has increased by more than 900% in the last 24 hours. DOGE, which was traded at $ 0.73 at the time of publication, was trading at $ 0.0075 just 24 hours ago. As mentioned above, WallStreetBets (WSB) is behind this rise.
As the price of DOGE rises to $ 0.0875 with the effect of this increase, WSB’s next target is eagerly anticipated.
John Bondy is a Market specialist working for Globe Live Media since 2020. He stays up to date with all the recent movements in Market, Finance, and Business field. Usually, the Finance section is covered by Samuel Edwards, but John Bondy is no where behind when it comes to quality finance reports.