- DOGE pumped 1,000% in 36 hours as the WallStreetBets crowd turned their attention to crypto
- The WSB community has been making global headlines after their run ins with short selling hedge funds
- Their markets were intentionally shut down, leading many to crypto, and to DOGE in particular
DOGE has enjoyed a monstrous 1,000% pump in the last two days, largely in part to the WallStreetBets (WSB) Reddit crowd who have turned their attention to the cryptocurrency following their efforts with traditional stocks. In a turn of events that made last year’s TikTok run seem like a warm up, the WSB gang sent DOGE stratospheric as they channeled their money (and their fury at the manipulators of the institutional markets) into the cryptocurrency.
WallStreetBets Falls in Love With DOGE
Having had great success with the likes of AMC, GME, and NOK before the plug was pulled by the billionaires who pull the strings in traditional markets, the WSB crowd turned to the cryptocurrencies available on their trading apps, prime among them DOGE. This resulted in a couple of smaller pumps on Wednesday before Thursday saw it double in value within three hours before going on a rampage and storming from $0.008 to $0.087 within 24 hours:
The stunning move is reminiscent of a similar pump that DOGE enjoyed back in July when it was the subject of a TikTok campaign to push it to $1, although the pump on that occasion was a mere 150% which was dwarfed by the most recent action as the WSB brigade ploughed their AMC and GME earnings into DOGE.
A Sign of Things to Come?
The massive DOGE pump could also prove to be a turning point in the crypto cycle, as traditional market traders within the WSB community realize that cryptocurrency markets are truly democratized, or at least the decentralized ones are. This could lead to an influx of retail traders from the traditional markets into the cryptocurrency markets much earlier than anticipated in the cycle, which would be good news for those already holding bags.