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Dogecoin, a digital token that started as a joke, spikes 140% after traders in a crypto-themed Reddit forum trigger Wall Street Bets copycat rally

Posted On: Feb 25, 2021   |   Posted By: Business Insider

Dogecoin, a digital token that started as a joke, spikes 140% after traders in a crypto-themed Reddit forum trigger Wall Street Bets copycat rally

Summary List Placement
Day traders on a crypto-themed subreddit helped drive the price of Dogecoin up by as much as 140%.
Members of the "SatoshiStreetBets" forum called on others to buy the meme-based cryptocurrency.
The Wall Street Bets short-squeeze frenzy has stretched into the world of cryptocurrencies.
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The short squeeze mania around Reddit-fueled stocks has extended to the cryptocurrency world, specifically for the digital asset based on the popular "doge" meme, Dogecoin.
Dogecoin surged as much as 140% to $0.176 on Thursday, according to data from trading tracker TradingView. The coin hasn't received as much love as its rivals in the crypto-verse: Bitcoin and Ethereum .
Emulating the same frenzy set off by r/wallwtreetwets traders, users on a forum called SatoshiStreetBets promoted the cryptocurrency in an attempt to replicate the astonishing gains for GameStop, AMC, BlackBerry, Bed Bath & Beyond, and other highly shorted...

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