Who could have predicted that a seemingly run-on-the-mill Twitter post from a particular indirectly-linked WallStreetBets trader could propel the market price for the meme-based crypto, dogecoin (DOGE), to more than double within a single day? None, but that is what exactly happened recently.
The particular Twitter account called: “WSB Chairman” quickly amassed over 400,000 followers after his now-popular yet straightforward tweet regarding DOGE, wherein he simply asked what the crypto is exactly. Almost immediately after he published said tweet, DOGE’s market price surged from $0.0075 to as much as $0.0136. More interestingly, the so-called “meme coin’s” price has now proven even – trading 1:1 – to some of the world’s national fiat currencies, such as the Russian ruble.
While the precise reason that sparked the price jump isn’t really determined as of date, many believe that this development is yet a product of the community having fun at its expense/benefit. This notion is then evidenced by the slew of meme-centric tweets from the community, unknowing whether they truly are in defense of the lesser-known crypto or just chiming in for the fun of it.
This development also proves reminiscent of the same crypto’s previous sharp rise last year, which is actually just sparked by several TikTok videos promoting the crypto.