Dogecoin (DOGE), a joke created as a joke, has seen a huge source of Twitter activity over the past 24 hours after the newly infamous Reddit group responsible for pumping up GameStop’s share price on the coin tossed.
The Twitter volume of Dogecoin – the number of daily tweets versus the 30-day average – shot up 1778%, according to crypto data provider The TIE on Thursday. In total, there were 89,991 tweets about DOGE over a 24-hour period.
The data from The TIE suggests that this is the first time that altcoin outperforms Bitcoin in terms of volume.
Dogecoin tweet volume has surpassed Bitcoin over the past 24 hours.
This is the first time we have recorded that an altcoin has been tweeted over more than Bitcoin over a period of 24 hours.
– The TIE (@TheTIEIO) 28 January 2021
The TIE highlighted the price valuation, the Twitter volume and the trading volume of Dogecoin in the following picture:
In addition to the increase in Twitter activity, Dogecoin has experienced a similar increase in trading volume. The price of the digital currency rose 223% during the 24-hour period.
The DOGE price seems to have risen as a result of global attention on r / WallStreetBets, the Reddit group that successfully caught Wall Street sellers in a short time by devouring shares of GameStop and AMC. Although the moderators of the subreddit attempted to remove any attempts to pump up the DOGE price, Reddit users on other channels left subtle hints to invest in the crypto-currency.
A Twitter account called ‘WSB chairman’ (albeit with the disclaimer ‘NOT ASSOCIATED WITH r / WSB’) left a non-subtle hint just after midnight on Thursday:
Has Doge ever been in a dollar?
– WSB Chairman (@WSBChairman) 28 January 2021
At the time of writing, DOGE is valued at $ 0.024 for a total market capitalization of just under $ 3.1 billion. It surpassed the cryptocurrencies Tezos, Monero and EOS after its latest rise.