Dogecoin Fans Send DOGE To 7 Cents To Spite Novogratz
Although it’s celebrity social media fanbase has been quiet as of late (Dogecoin had celebrity endorsement from Musk and Cuban in the beginning of the year), everyone’s favorite memecoin Dogecoin had managed to stay above the 5 cents range for a while now.
In the past few weeks it even traded in the 6 cents lane. Currently, Dogecoin is trading above $0,07 and rose 5%.
Dogecoin reminds me of GameStop
It looked like the spikes and pullbacks were gone and Dogecoin had almost become boring. Technical analysts predicted that DOGE would need to break clearly above 6 cents in order to make a run for higher territory and perhaps this Sunday was finally that moment.
I mean, the doge dudes are pretty obsessed.— CryptoYetti (@YettiCrypto) April 10, 2021
The Shiba Inu coin has a lot of fans on social media, and perhaps the obvious reason why they decided to send the coin so high on Sunday is to spite Mike Novogratz.
Interviewed by CNBC this week, the Galaxy Digital CEO and founder Mike Novogratz claimed that:
Dogecoin reminds me a lot of GameStop. It was funny for a little bit, but now it’s at a market valuation where people are going to lose lots of money in Doge.
Bitcoin has a real purpose, Ethereum has a real purpose. Doge is kind of a meme, a joke.
Reddit’s Dogecoin fans were furious and vowed revenge. They even called upon WallStreetBets to help them.
Others stated that Elon Musk’s cryptic going to moon very soon tweet of 10 April was also a clear reference.