How R / WallStreetBets Caused the DOGE Rally – Reasons To Sell Bitcoin

The cryptocurrency market seems surprised by yesterday's season. Dogecoin (DOGE) basically jumped to 5th place among the top 10 cryptocurrencies by market capitalization by throwing everyone out the window. DOGE is trading at $ 0.27, down 20.6% on the daily chart. DOGE with heavy losses on the 24 hour chart. Source: DOGEUSDT Tradingview DOGE reached a record high with $ 0.50 after 500% gain. CoinShares Chief Strategy Officer Meltem Demiros linked Dogecoin's rise to the controversial r / WallStreetBets subreddit. This group decided to lift the ban on cryptocurrency discussions. These were still limited to Bitcoin, Ethereum, and DOGE. However, the group decided to re-enforce the ban within a day due to an article published by Bloomberg as explained in the subdirectory. The article titled "WallStreetBets Bows to Crypto" and the moderator's decision caused some inconvenience to this community. As a sort of "revenge pump" WallStreetBets could launch the DOGE rally. As evidence, Demiros drew attention to the traded volume of the cryptocurrency. At the top of DOGE, the daily trading volume was $ 70,772,770,653, as CoinGecko demonstrated with a market cap of $ 48 billion. By comparison, State Street Global Advisors' SPY ETF recorded nearly $ 25 billion in this statistic during its April 17 session. CoinShares, who also drew attention to Dogecoin's repository on GitHub with many contributions last year, CSO: people talked and people want DOGE. The power of memes is to move markets. You love to see it. It's going to break people's brains and we're just getting started. Greetings to all @ TikTok Investors who are currently $ DOGE millionaires. Coinbase Effect and Bitcoin Price After the bullish momentum that led Coinbase to debut on the stock market, Bitcoin price appears to be in a downward trend. At the time of writing this article, BTC is trading at $ 60,174 with a loss of 1.9% on the 24-hour chart and 3.6% in the past. Read more

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