Wall Street Bets has been the most entertaining thing ever in finance. I was one of the millions of people who recently joined the Wall Street Bets subreddit. I had previously viewed the thread with my brother 2 days ago when there were "only" 2.5 million followers. Yesterday we witnessed the thread get disabled while there were 3.5 million followers. Today Wall Street Bets is back up and now I am officially one of the 4.6 million followers, or degenerates as they call themselves.
The short squeeze these degenerates pulled off on GAMESTOP has made massive waves and has been incredibly fun to watch. Its amazing to watch these wild price swings. GAMESTOP wasn't the only play these dengerates made. They also made plays on AMC, Bed Bath & Beyond, and Nokia.
The first thing I noticed when I joined the Wall Street Bets subreddit was in their list of rules. One of their rules is no discussion of cryptocurrencies. I suppose this is likely an outdated rule now that cryptocurrencies are traded on Wall Street, but I still found it quite interesting.
This rule is being disregarding as the community is now pumping DOGE coin with great success. At the time of my writing, DOGE coin is currently up over 400% on the day. I found it funny when they pumped the stock of unprofitable businesses with enormous success. Now I find the pumping of a joke coin with no utility absolutely hilarious.
I will certainly be watching DOGE coin in the coming days, which is something I never thought I'd ever say. I'm not giving financial advice here and I wouldn't buy DOGE coin with your money, but I wouldn't be surprised if this pump continues.
Wall Street Bets has brought a lot of attention to the stock market in the past few days. Hopefully now their pump of DOGE coin can bring further attention to the crypto markets. With so many people in the world still not knowing about Bitcoin, I can't imagine how many people don't know that DOGE coin exists.
Again, this is not financial advice. Always know the risks when investing. If 400% gains in a day are possible, it stands to reason the downside risks could be significant as well.
Thanks for reading! Have a nice day!
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Hey brother, I see the upvotes, thank you very much. I really appreciate
Great post volcano,
Dogecoin was brought to my attention due to the fact that I follow Elon Musk and his adventures on social media.
the Meme-ification of the stock market has me thinking that this coin and other meme-like coins and stocks will benefit from this. only time will tell.
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I love this word Meme-ification. The effects of Meme-ification should not be underestimated!
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wow, I never thought DOGE, would rise so high, it's one of the coins I know of that I don't keep.
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That makes two of us
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We need to get eyes on hive and leo. I have been on the subreddit for a while they did not like crypto because it would pump and they thought it would bring legal action.
Well I'm personally glad they are jumping into cryptos. I believe it should bring those eyeballs to Hive and Leo. It's only a matter of time. We are all here at the beginning of the party.
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Dogecoin is a lesson for many maixmalists in crypto. Don't underestimate a strong community, should be the narrative. Don't own any DOGE anymore but this move of it signals one thing for me: altcoin season. I have no doubt now that it was the trigger. It's either DOGE or ETH that are triggering altcoin seasons.
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You are totally right about a strong community. A coin is only a strong as the community that backs it.
I certainly welcome the coming of altcoin season.
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No doubt what is happening is a lesson for Wall Street's financial elite.
I do enjoy this stick it to the man movement. There are lessons to be learned by all here.
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I was surprised with the pumped price of Doge. This must be quite powerful group that has raised the value of DOGE coin to this much percentage. I have never imagined that DOGE can ever reach even to this much price, but this is crypto world, and you are right, this could go much more higher with the current trend.
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You weren't the only one surprised. There has been a lot of huge surprises this week.
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My coin faucets that I use has given me quite a few doge that I’m very happy to own now hahaha. Let’s see how high it can go!
Is there proof behind the wallstreet gang pumping doge? I haven't heard of anything on that front. It just got listed on a DeFi market which is sure to cause a sudden pump. I'm leaning more towards that then some wallstreet reddit group.
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The Defi aspect is interesting and could be playing a role here. But if you look at the WSB reddit or discord, you will see many promoting DOGE.
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This is something new to me. Only today I came to know about wallstreetbets. I saw a discord server overwhelming with new users and that is when I came to know about all these things.
It is a clear thing that Doge pump is not an organic one. They are continuously pumping it and no wonder if this continues it will easily surpass Hive price soon and might as well reach 50 cents.
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You are totally right about DOGE's possibility to beat Hive's price. I would be sad to see this, but it really may happen.
When I look at the number of people in the WSB discord and subreddit, I just keep thinking what it would do for Leo and Hive if we could just get 1% of those people to join here. They need a decentralized platform and I'm sure they wouldn't mind getting rewarded for using it.
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It was also helped by a tweet from Elon Musk.
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Elon is a huge factor here as well. He is the reason that DOGE is even on their radar. WSB fans are huge fans of Elon.
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Can you point me to where they rally for Doge? I thought it was just Elon himself pumping again.
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Check out the WSB subreddit and discord. If you watch any random minute in their discord, you will see dozens of messages with a rocket ship next to the word DOGE.
Elon played a massive role in this pump as well. WSB fans love Elon and probably never would have bought any DOGE if it weren't for him.
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Time to show our solidarity and buy some, I just placed an order now :)
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It's that kind of solidarity that has lead to these amazing pumps. It goes to show what we can accomplish when we unite!
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It is crazy what's happening! Will I buy it now? Too risky for me.
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I can't imagine anything riskier! Some taking these huge risks are reaping huge rewards. I'm personally watching from the sidelines, but it still is fun to watch.
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I agree about the fun part!
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Next Is #XLM
What Do You Think?
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That's an interesting question. XLM might actually have some of its own reasons to pump. I can't imagine what could happen if the WSB crowd starts to pump something that is useful. Their crypto ticker in their discord only lists 4 cryptos: BTC, ETH, LTC, and DOGE. If it lists XLM as the 5th, it is sure to moon. But I haven't seen any evidence that they will pump XLM yet.
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Three new cryptos have been added to their ticker in the few minutes since my last comment: XRP, XLM, and LINK.
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Now 30 minutes later all 3 of the newest coins added to their crypto ticker have been removed.
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Now a few minutes later these 3 coins are back on the ticker
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Upon further investigation I think you are right. It does look like XLM is next. I better go make some popcorn as this is going to be fun to watch!
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If you do manage to get some doge post it in my comments here and ill tip you some extra doggies
2 days ago I would have said, why would I want doggies?
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LOL and now we all want doggies
About 8 hours later and it was ranked 7th for a moment...
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This ride is absolutely insane! WSB is changing the game!
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If you are checking again... you will be wishing to post again! LOL
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Haha ya I could write a post pretty much every hour about these insane movements!
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Note: I am still playing dcity =)
There was an insane movement yesterday =)
Heheheheh
Thank you for your info
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You are welcome. Thanks for reading!
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Doge to the moon!
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Who better to lead DOGE to the moon than Elon himself?
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Doge is the best, I love how everything is changing.
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Love it or hate it, the game is definitely changing!
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I think they will make huge profit since the price of doge is very low.
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Huge may be an understatement. I would define these kind of instant profits as insane!
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I haven't used my reddit account in such a long time. Think I'm going to use it again and join this subreddit to stay up to date on what this bunch of mavericks decide to pump next.
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I actually made a reddit account just to join WSB. I'm sure I'm not the only one either. The user total is now up to 6.3 million users!
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I agree this has been my entertainment for the last 2 days and has been one of the best shit shows I have seen for some time.
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I'm hoping the entertainment keeps on going!
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I think we all are looking forward to that happening. More twists and turns exposing the next bunch of institutional traders. I honestly had no idea this was how they were making their money and they have been doing this for so long.
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doge hodlers here
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Very nice!
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Congratulations @themightyvolcano! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :
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STOPCheck out the last post from @hivebuzz:
At this time, the price dropped. I bought at quite higher price, too bad I lost some. However, it might be a great time to buy. We cannot say. Nobody even expected the recent surge.
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Thank you for the recent upvote, I really appreciate the support. Speaking of strong community I'm trying to make awesome Leo memes that people can share and hopefully we can get more exposure.
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DOGE and now Silver. It's great to see the hedge funds being taken for a ride. When the big players get smacked down they seem to have a big whinge though. Hopefully there is no bailout for them. You play the game expect to lose. Most of the little guys have over the years! Great post.
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Congratulations @themightyvolcano! You received a personal badge!
You can view your badges on your board and compare yourself to others in the Ranking
Sir I dunno who you are, but thanks for that upvote. It actually motivated me now to keep on writing.
Peace
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