Dogecoin Rises Up To 80% In A Day And Trading Volume, Spikes More Than 800%

Dogecoin (DOGE), the crypto meme coin, has risen up to 80% in a day and trading volume has spiked more than 800%, as it sees a publicity surge with a familiar source.

It has been reported that CoinMarketCap and TradingView showed a transformation taking place in the DOGE ecosystem overnight on January 27 (Wednesday), with DOGE/USD hitting $0.0138.

The GameStop madness looks to have spread to the famous altcoin, $DOGE. Can the Wall Street Bets crowd make a massive push for a $1.00 Dogecoin? — Cointelegraph (@Cointelegraph) January 28, 2021

However, in a matter of hours on January 28 (Thursday), the pair added over 80% to its spot price before correcting.

The report said that the gains accompanied a similar surge in interest on social media, with Twitter activity up by more than 300%. A parody Twitter account posing as the moderator for r/Wallstreetbets queried:

“Has Doge ever been to a dollar?”

Likewise, the hashtags #dogecoin and #dogecoininto1dollar began trending among users in the United States, referencing a long-held dream among the altcoin’s investors.

Thus, Dogecoin already has something in common with $GME, both assets having seen publicity tweets from Tesla CEO and world’s richest man, Elon Musk in recent weeks.  

Gamestonk!! — Elon Musk (@elonmusk) January 26, 2021

Source: Cointelegraph


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