85% Dogecoin rally shows Wall Street Bets aren’t done with DOGE yet By Cointelegraph

85% Dogecoin rally shows Wall Street Bets aren’t done with DOGE yet
85% Dogecoin rally shows Wall Street Bets aren’t done with DOGE yet

After gaining the spotlight due to a 980% pump on Jan. 28, Dogecoin (DOGE) briefly entered the top 10 ranking by market capitalization for the first time since 2015. Once the massive pump lost momentum and traders quickly took profits, it seemed that investors would move on past the meme-based cryptocurrency and find something else to invest in.

The pump initially started when exchanges prevented retail traders from buying more GameStop (NYSE:) and AMC stock on Jan. 28. Fueled by the Reddit discussion group r/Wallstreetbets, the army of investors turned their attention to silver and a selection of ‘cheap’ cryptocurrenceis.

DOGE/USDT 1-hour chart. Source: TradingView
Wall Street Bets’ crypto sub-Reddit. Source: Reddit
Dogecoin price vs 30 day average Tweet volume. Source: TheTie

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