Dogecoin (DOGE), a cryptocurrency that emerged as a joke, rose 62% at press time, to trade at $ 0.0132 on Thursday morning.
The rise comes despite general cryptocurrency sentiment, with Bitcoin (BTC) trading 0.6% lower, at $ 31,558.26 so far.
The Reddit r / SatoshiStreetBets community is calling on users to pump up the cryptocurrency joke in a manner similar to the short compression of r / WallStreetBets shares, such as GameStop Corp. (NYSE: GME), AMC Entertainment Holdings Inc. (NYSE: AMC), Nokia Oyj (NYSE: NOK), and BlackBerry Ltd. (NYSE: BB).
See too: Ethereum, Dogecoin and other cryptocurrencies that you can ‘create’ using your laptop
This is not the first time that the cryptocurrency joke would come about through coordinated efforts. Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk often sends the cryptocurrency on high with his tweets.
An adult movie star tweeting about Dogecoin earlier this month also led to a 125% increase at the time.
DeFi cryptocurrencies are also reaching record levels, despite the fall of Bitcoin.
Read below: WallStreetBets receives screams from Cuban, Portnoy, Musk, AOC: Who’s Saying What
Dogeloverforever’s photo on Wikimedia
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