It looks like the altcoin, Dogecoin, has to overcome a lot of things to finally hit the level of 1 USD. However, the stock market is not in the right mood, apparently, to be doubtful about the abilities of r/Wallstreetbets, the subreddit platform for the participants to make discussions on the stock market and issues of options trading.
The volume of trading for Dogecoin has increased to over 800% as it witnesses a surge in publicity with a source that is familiar to it. Just within a day, the altcoin was up 80%.
Dogecoin Through The Eyes Of Experts
Data acquired from certain reliable sources showed the transformation that was seen in the Dogecoin. The sources include Tradingview, Cointelegraph Markets, and CoinMarketCap. According to them the change in the ecosystem of the altcoin was an overnight one. It took place on the 27th of January. The DOGE/USD hit the rate of 0.0138 USD.
The pair made the addition of more than 80% on the spot price, that too just within hours. This incident took place on Thursday. The spot price was added before making any correction. It is also to be noted that while ding so, the support of 1 cent was still being held when the writing took place.
There is a common feature between Dogecoin, the altcoin, and $GME. Bot of these assets has witnessed tweets made by the richest man in the world, Elon Musk, who is also the CEO of Tesla. This took place sometime in the past weeks. According to the reports of the Cointelegraph, the endorsement made by the CEO of Tesla with regard to Dogecoin was enough to cause the inducement of price action, that too a serious one.
