Post
Topic
Board Economics
Re: after gamestop's short squeeze, reddit turns to doge. 600%+ today
by
wxa7115
on 31/01/2021, 18:57:44 UTC
I doubt it was the work of WSB, it was probably the crypto traders, just like when Elon tweeted about Doge. Just like in 2017 Bitcoin allowed alts to soar, now other shorted stocks and things that just get mentioned by influential pages, get launched to the moon because traders expect a pump, turning it into a self-fulfilling prophecy.

I'm definitely going to buy some DOGE after it will crash, it seems like the ultimate pump coin - it's very prone to pumps whenever someone famous mentions it, so buying it when it's down is not such a bad idea.
It could be interesting to know what were the reason for the recent increase in the price of dogecoin, the price reached a high today of 0.078 and in some exchanges this was even higher, and since it skyrocketed out of nowhere the only explanation this is a manipulated move so I would have the tendency to believe the reddit investors in WSB were somehow involved.

However I wonder is this not just another pump and dump scheme? Yes they made the price of those stocks go higher but then the price went down as the demand could not be sustained and most likely some of those in the group sold their stocks for huge profits, to me anyone that participates in that group is taking a risk as wall street is not going to allow this to continue.