Dogecoin Gets Pumped 55% As Reddit’s WallStreetBets Turns To Crypto

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Last Updated on 28 January 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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The Reddit Flashmob WallStreetBets which scares both Wall Street and global stock markets, has all of a sudden turned its attention to crypto after various Twitter accounts claiming to be linked to the group started asking whether Dogecoin has ever been to $1?

At the time of writing, the spike in Dogecoin’s chart was quite clear already with the small crypto up some 55%.

A Twitter account named WSBChairman has become the main focus of attention of all youngsters in the US and Europe eager to make a quick buck. After Reddit made the message board which yesterday brought several hedge fund to its knees invite-only, Discord did the same when the group moved there. As no one knows where the official WallStreetsBets guys are currently located, attention has turned to the Twitter account of WSBChairman.

Some 6 hours ago, the account, which saw a whopping 400k followers added overnight, asked:

Has Doge ever been to a dollar?

Ever since then, some 75,000 tweets carrying the Dogecoin hashtag have been launched.

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TikTok and Elon Musk

Dogecoin, which is currently one of the cheapest crypto one can buy via the mass trading app Robinhood, of course has already a long history of social media pumps. Last summer a TikTok account asked everyone to buy the small crypto and hold it until it hits 1 dollar. The clear spike in the chart was quite obvious. The mob that got into the trend left it after a few days of course.

In the fall, Tesla CEO Elon Musk got in onto the joke as well and tweeted in favor of Dogecoin twice. Given that he boosts some 43 million followers on Twitter alone, the spike in the price of the small crypto was obvious.

Whether WallStreetBets has truly moved onto crypto or whether this account is simply trying to take over the role is unknown at this point, but the hedge fund owners on Wall Street, who are probably turning to their lawyers and lobbyists by now to check what they can do against this group, must be sighing a breath of relief that crypto is up next.

If Elon would be tempted to tweet about Dogecoin just as he did about Gamestop today, all bets as to where Dogecoin’s chart will end are clearly off.