Dogecoin, a cryptocurrency created in 2013 on the popular “doge” meme, has soared over 800%. According to CNBC, the surge was sparked by a Reddit board that talked about making it the cryptocurrency equivalent of GameStop.
- Dogecoin’s price stood at $0.070755 at around 12.01 p.m. in Singapore, slightly below the 24-hour high of $0.072330 earlier in the day.
- Users inspired by the dogecoin surge termed it the “crypto gme” in relation to GME, the stock ticker of GameStop, which also rose on Reddit frenzy.
- Reddit users are encouraging Dogecoin investors not to sell it and “keep pushing.”
- Degoin is also inspired by Tesla’s Elon Musk, who tweeted and suggested in April 2019 that it is his “fav cryptocurrency.”
- On Thursday, Musk tweeted a picture of a magazine cover of “Dogue” with many Twitter and Reddit users interpreting his support for the cryptocurrency.
- Started as a joke, Dogecoin now has a market capitalization of $8.2 billion, making it the ninth-largest cryptocurrency.
Dogecoin is currently gaining. DOGEUSD is up 41.82%