A Twitter user with 380 thousand subscribers spoke about the cryptocurrency in his account, after which its price began to skyrocket. Earlier, he actively reported on the growth of shares of Gamestop, which rose in price 11 times in a month.
On the night of January 28, the Dogecoin (Doge) token showed a sharp rise. Within two hours, the cryptocurrency rate rose by more than 90%, from $ 0.0078 to $ 0.0145. After that, it corrected and the asset is worth $ 0.011, according to coinmarketcap.com.
A possible reason for the growth was the activity of Twitter users. A few minutes before the Dogecoin price skyrocketed, WSB Chairman asked 386,000 subscribers who held Bitcoin. Users began to discuss cryptocurrencies, naming various altcoins. This message got 15 thousand likes and 2.5 thousand shares.
The WSB Chairman then noted that his followers are talking the most about Dogecoin. After that, the rapid growth of its course began.
WSB Chairman, according to his Twitter posts, is one of the active participants in the recent "pump" of shares of various companies, including the network of video game stores Gamestop. Over the past month, their quotes have grown more than 11 times. One reason for this dynamic has been the hype on social media, especially on Reddit.
Its users in the WallStreetBets thread began to select the stocks of the companies for which the most massive short positions were opened and actively buy them. However, the WSB Chairman emphasized in his account that he is not directly related to this discussion on Reddit.
A similar story with the Doge token happened in July. Then its price increased by 140% during the day. This happened after users of the popular TikTok application began to urge each other to buy a coin as part of a challenge.
