Reddit community WallStreetBets’ drama with hedge funds on the high street has now permeated the cryptocurrency sector, and Dogecoin has increased its price by 90% from hours that increase helped DOGE get its old ATH in the charts is approaching

Dogecoin has been in the mainstream media for a number of reasons, including viral TikTok videos or tweets from Elon Musk In fact, the above-mentioned surge could continue if Elon Musk decides to join the party, as is customary

The WallStreeBets name has surfaced across the mainstream media lately as a group of “memers” who all yearned for the most abbreviated stock GME [GameStop] This has resulted in GME stock prices rising over 880% in a week at the time of writing

What is interesting about the rise in GME stocks is that Melvin Capital, a hedge fund that is reportedly at the center of all GME shorts, has covered its short position, which not only contributed to billions in losses, but also contributed to it led major street vendors / hedge funds to be in a bad mood

With the drama about GME shares playing out before our eyes, a Twitter user tweeted with the screen name “WSB Chairman”

This tweet was replied to by many cryptocurrency enthusiasts in the market, many of whom have been excluded from the WSB drama, accordingly, many have started spamming various altcoins However, among those altcoins, Dogecoin was the one that rose to the surface and did the most The lot’s attention caught

A look at DOGE’s maps would suggest that maybe a few whales caught the smell of what was going to happen and jumped on the bandwagon as well. In fact, two pseudonymous traders, RookieXBT and CoinMamba, recorded long positions for a long time before the pump actually started

With Elon Musk already on the WSB train, it wouldn’t be surprising if he tweeted about the current Dogecoin pump when this happens, Dogecoin is not being held back. Levels to watch out for are – $ 00159 and $ 00183 , both price points, which are at 78, fibonacci levels of 6% and 100%

Akash is a full-time cryptocurrency writer and analyst at AMBCrypto He is an engineer with a keen interest in finance and economics Akash is drawn to the chaos of trading and has invested in BTC, ETH and XRP for educational purposes

Disclaimer: The content of AMBCrypto is intended to be informative in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be viewed as a high risk investment Each reader is advised to do their own research before making any decision

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World news – CA – Dogecoin pumps 90% amid the WallStreetBets drama – AMBCrypto

Source: https://ambcrypto.com/dogecoin-hits-new-ath-after-90-pump-amid-wallstreetbets-drama/