Dogecoin is now ranked among the top 10 biggest cryptocurrencies based on market capitalization for the first time since 2015.
The last time dogecoin was among the top ten crypto assets was back in 2015. The pump is believed to be done by a Reddit group.
The meme-coin in less than two days pumped about 1000% from a low of $0.0078 to record a new all time high price of $0.078 surpassing its previous all time high of $0.0185.
The sudden pump of DOGE is an organized pump done by members of the Reddit group r/WallstreetBets, who also are behind the recent triggered international suspension on trading of Gamestop shares. Robinhood among other stock exchanges suspended trading of Gamestop shares.
There was also a coordinated shilling of DOGE on Crypto Twitter (CT) spearheaded by Tesla’s CEO, Elon Musk. Musk was voted as Dogecoin’s CEO in 2019.
— Elon Musk (@elonmusk) January 28, 2021
Dogecoin is a meme coin depicting a dog specie known as the Shiba Inu. In 2014 the dogecoin community collected donations to build wells in Kenya, and also during the Sochi Olympics donated money towards the Jamaican bobsled team. This cryptocurrency project has a strong supportive community behind it.