UPDATE: Dogecoin Now a Top-7 Crypto After Reddit-Fueled Pump

Binance 2021-01-28 21:54 DOGE +105.56%
[UPDATE as of 4:10 AM UTC today]
Meme-based cryptocurrency Dogecoin (DOGE) is now the 7th-biggest cryptocurrency in the world, fueled by an unprecedented campaign by a Reddit group.
As of 4:10 AM UTC today, DOGE grew by 837% over the past 24 hours, with $26.8 billion in trading volume across major exchanges, according to CoinMarketCap. The cryptocurrency, which is based on a famous meme of a Shiba Inu dog, is currently worth about $0.08 on Binance, an all-time high by leaps and bounds, after being worth as low as $0.0025 as of early January.
The Reddit-based trading community known as WallStreetBets, which discusses stock and options trading, is widely believed to be behind the sudden rise of Dogecoin. A Twitter account named WSB Chairman, which denied associations with the Reddit group, nonetheless tweeted, “A lot of you are talking about Dogecoin. What’s that? A meme crypto?” and “Has Doge ever been to a dollar?” In response, members of Reddit group SatoshiStreetBets were egging on the DOGE action.
The WallStreetBets Reddit community has recently focused on GameStop, driving its share price up nearly 900% in five days. The group’s actions, including sudden price hikes for AMC Entertainment Holdings and First Majestic Silver Corp., have led to major losses to some short-selling hedge funds and potential regulatory scrutiny.

Buy DOGE on Binance

#Dogecoin #Reddit #CoinMarketCap

Start trading now by joining #Binance #1 Crypto Ecosystem

Support us by joining with our referral link below and invite your friends by sharing our link we appreciate supporting us to help and reach more people adopting crypto industry


#cryptocurrency #blockchain #crypto #binance #bitcoin #blackrock #institution