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October 4, 2022
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Dogecoin for 1 dollar? Reddit turns to DOGE after GameStop rose 1.600% in 2 weeks

DOGE for $ 1?

Cointelegraph Markets information, CoinMarketCap and Tradingview confirmed a metamorphosis taking place within the DOGE ecosystem in a single day on January 27, with DOGE / USD reaching $ 0.0138.

In a matter of hours on Thursday, the pair added more than 80% to its cash value before the correction, however, holding 1 cent assistance at the time of writing.

The positive factors accompanied a similar increase in curiosity on social media, with Twitter increasing by more than 300%. The offer, it seems, is identical to the Reddit group, which sparked a dramatic but extremely controversial run in the stock value of GameStop, the US electronics purchasing agency.

A fake Twitter account impersonating the r / Wallstreetbets moderator asked:

“Doge ever gone for a dollar?”

Subsequently, the hashtags #dogecoin and # dogecoininto1dollar began to be a trend among customers in America, referring to a long-standing dream among many altcoin buyers.

Can Dogecoin benefit from the GameStop moment?

Dogecoin already has something in common with GameStop, each of the belongings having seen advertising tweets from Tesla’s CEO and the world’s richest man, Elon Musk, in the current weeks. As reported by Cointelegraph, Musk’s ironic endorsement of DOGE was sufficient to induce the critical movement.

At Reddit itself, customers tried to insert tips for investing meme-based altcoin, regardless of whether dedicated posts are eliminated by r / Wallstreetbets moderators.

As concern about the repercussions increases on GameStop’s efficiency, meanwhile, cryptocurrency proponents argue that Reddit customers who combine forces to overcome unprepared establishments are only participating in the fundamentals of capitalism.

Source: technicalripon

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