Dogecoin is going to the moon because the internet said so

White everyone was focused on GameStop' stock price, Dogecoin took off on its own trip to the moon with a 400% daily return.

@pumcypuhoy
Published Fri, Jan 29 2021 12:53 AM CST   |   Updated Thu, Mar 4 2021 11:50 PM CST

As trust in retail trading implodes over the r/Wallstreetbets $GME saga, people are looking at cryptocurrency, but it's not Bitcoin making the significant gains today. Doge is now the 8th largest cryptocurrency with a market cap of over $8.4 billion.

Dogecoin is going to the moon because the internet said so 01 | TweakTown.com
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Usually, what "the internet" says doesn't really work as a collective mouthpiece, but sometimes enough people rally around an idea that it feels like a consensus; like the GameStop stock fiasco that's going on right, which has celebrities,

politicians, and billionaires alike rallying against hedge funds. Well, if you were caught up in the GME excitement today, you might have missed that the meme-based cryptocurrency, Dogecoin, has shot through the roof today.

Dogecoin is going to the moon because the internet said so 02 | TweakTown.com

Dogecoin fans are trying to emulate the GME stock pump in some way without fully understanding the reasons behind GameStop's price explosion. Still, Dogecoin is on a monumental run to uncharted territory.

Until Thursday, Dogecoin had never exceeded 1.4 cents, but as of writing this, Dogecoin is trading at 6.3 cents, and it peaked at around 7.3 cents. The show might be over soon, though, as the excitement seems to be waning. Dogecoin fanboys are saying it's still going higher. We'll see if the momentum continues. Much Doge. Such Wow!

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Kevin joined the TweakTown team in 2020 and has since kept us informed daily on the latest news. Kevin is a lifelong tech enthusiast. His fascination with computer technology started at a very young age when he watched a family friend install a new hard drive into the family PC. After building his first computer at 15, Kevin started selling custom computers. After graduating, Kevin spent ten years working in the IT industry. These days, he spends his time learning and writing about technology - specifically immersive technologies like augmented reality and virtual reality.

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