CoinShares CSO Meltem Demirors says Dogecoin's rapid rise is just the beginning

CoinShares Strategy Director Meltem Demirors said the recent Dogecoin (DOGE) boom is a sign that cryptomania is just beginning. In a new expanded headline, Demirors attributed its resurgence to the WallStreetBets (WSB) subdirectory and members' reaction to the press around the group, analyzing why Dogecoin soared by over 400% in just two weeks. crypto policy. Demirors said, “On Wednesday, before the COIN (Coinbase) listing, WSB moderators were three cryptocurrencies – Bitcoin, Ethereum and… you guessed it… DOGE. As you can imagine, the WSB community went crazy … not 24 hours later, the mods broke that decision and announced that they would ban all crypto chats on the forum indefinitely. According to some reports, the ban came in response to this Bloomberg Business article claiming that WSB mods are under pressure. Now, if we've learned anything about good people at r / wsb, they don't like being told what to do. So is this a revenge pump? Demirors aren't sure exactly whether the above events led to Doge's surprising rise, but caution that the asset has more 24-hour trading volume than SPY, an ETF aimed at tracking performance. From the S&P 500. “All I know is this: SPY, the most owned and most traded ETF, traded around $ 25 billion yesterday. The popular cryptocurrency DOGE (sorry Dentacoin) has traded nearly $ 70 billion in the last 24 hours. This is ******* CRAZY CITY. The CSO tells its 160,000 subscribers that the pump is unlikely to be related to the core features Dogecoin has, as the latest development on Github took two months. sent. Take a look at the DOGE repository on GitHub … Sometimes things go against expectations. We are currently in an absolutely interesting market cycle. The trend is your friend Read more

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