After Tesla founder Elon Musk uploaded a tweet, "One word: Doge" on his Twitter page in December 2020, DOGE cryptocurrency, began to be the focus of investors.
A recent report revealed that the currency inspired by the Internet meme, the shiba inu saw a jump of over 250%, from $ 0.0074 to $ 0.28 in less than 12 hours.
At the time of writing, DOGE is trading at $ 0.036, up 385% in 24 hours with total market capitalization reaching over $ 4 billion.
Apparently, the small investors on the R / WallStreetBets Reddit site who are closely linked to the huge losses of Wall Street institutional investors in GameStop (GME) stock trading activities during the day have shifted to the crypto sector.
The cause started with the Twitter account owner @WSBChairman (believed to be unrelated to r / WallStreetBets), has uploaded a metaphorical tweet saying, "Has Doge ever been to a dollar?".
Following that, most of the subreddit users have uploaded various postings, encouraging investors to buy DOGE after the New York Stock Exchange (NYSE) stopped trading GME.
DOGE is also indirectly the first altcoin to overcome Bitcoin (BTC) based on the total number of tweets on Twitter, with an overall record reaching 1,787% which is around 89,991 tweets in 24 hours.
Based on CoinMarketCap, Dogecoin is currently ranked 13th after successfully overcoming Uniswap (UNI), Aave (AAVE), EOS and Tezos (XTZ).
