The Wall Street “chairman” asked about Dogecoin on his Twitter profile and this alone saw the price of DOGE surging 85% right after as we can see more in today’s Dogecoin news.
The price for the meme coin, Dogecoin went surging today as the cryptocurrency skyrocketed by 90% in a few hours after the Wall Street “Chairman” tweeted about it. A few hours ago, the “chairman” asked about whether or not DOGE has even been trading at $1. After the tweet went live, Doge’s price skyrocketed by 85% in a matter of hours and reached $0.0145 but ever since it corrected but it appears that there’s still momentum on the market. The reason for this excitement is the same thing that happened with the stock prices of GameStop.
Has Doge ever been to a dollar?
— WSB Chairman (@WSBChairman) January 28, 2021
The Wall Street Bets group on Reddit got more than 2 million people joining it with the cause of purchasing the GME stock against the trades of Wall Street hedge funds that were shorting it. Not so long after that, the price skyrocketed up to 600% causing a mess on Wall Street and even getting one big hedge fund out of its position that was reported as a huge loss. The entire mess saw the CEO of Nasdaq say that they will stop trading in case of increased social media chatter:
“When we evaluate how we would manage through a situation where you see a significant run-up with a stock that is not based on news or fundamentals, we have technology that evaluates social media chatter, and if we see a significant rise in the chatter on social media channels and we also match that up against unusual trading activity – we will potentially halt that stock.”
As reported earlier, The crypto markets are bouncing back from a week of losses while Wall Street records the worst day since October. BTC and the rest of the market seem to have rebounded from a few days of losses and the defi projects are booming as more sophisticated products are emerging online. Wall Street records its worst day since October as the GameStop controversy forced short sellers to pay and maintain their positions. On Wall Street, S&P500, The Dow, and Nasdaq were all down for what was seen as the biggest drop since October 2020. On the S&P500 communication, financial, healthcare and services were the biggest losers on the stock market. Maerck, Boeing, and Disney were the worst performers with 4% losses each.
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