The rise of the leeks - Dogecoin attracts the attention of Wallstreetbets, and surges 50% in one hour

After the hype of the overseas version of TikTok last year caused Dogecoin to soar, Dogecoin (DOGE) was infused with great power by another well-known foreign community today. This time, Dogecoin was paid attention to by the Reddit / wallstreetbets community. WSB, the full name of WallStreetBets, is a Reddit sub-forum with 900,000 members. American retail investors once again "made a name for themselves" and explained what the power of unity and "faith" is in the battle with institutions. The madness of American retail investors' grouping made the big short Citron surrender. Not long ago, GameStop was on the verge of bankruptcy, and retail investors were subverting the cognition of the traditional world with a highly appealing short squeeze plan.

At the time of writing (05:15 UTC), Dogecoin (DOGE), ranked 31st by market capitalization, is trading at $0.01129, having gained 50% in the past hour, 70% in a day and 104% in a month.

Dogecoin (DOGE) price chart today:

Just so happened that this question came up on Twitter today:

The “WSB Chairman” describes himself as the “WallStreetBets Community Leader” and has more than 341,700 followers on Twitter.

After Dogecoin skyrocketed, the author of the post then asked a question: "Has Dogecoin ever reached $1?" During the TikTok incident last summer, overseas Douyin users also aimed to raise the price of Dogecoin (DOGE) to $1.

All the stories about Dogecoin today started with a question from WBS on Twitter: "Does anyone own Bitcoin?" And the famous investor Anthony Pompliano replied: WSB community + Tesla + Bitcoin = Wall Street's nightmare.

Dogecoin started in November 2013 with Jackson Palmer's famous joke mocking the cryptocurrency circle, and soon became one of the most popular tokens in the crypto space, attracting a lot of attention. But Dogecoin itself does not have many functional innovations. What is most unique about it is the vibrant community built around it. Compared with the complex Bitcoin, Dogecoin is designed to be a more friendly cryptocurrency. The main difference between Dogecoin and most other currencies today is that it is an inflationary cryptocurrency, not a deflationary cryptocurrency.