Indeed, according to the cryptocurrency data provider The TIE, the volume of DOGE tweets increases, almost 1800% in the last 24 hours. Which has led to a massive increase in the price of the coin.
In addition to noticing an increase in Twitter activity, Dogecoin (DOGE) has also seen a similar increase in transaction volume.
The volume of tweets about DOGE increases
Ultimately, Dogecoin (DOGE), a meme coin created as a joke, has seen a huge wave of activity on Twitter in the last 24 hours.
Specifically, according to cryptocurrency data provider The TIE, the number of daily tweets versus the 30-day average this Thursday soared by 1,787%. In total, there were 89,991 tweets about DOGE in a 24-hour period.
In fact, surpassing the previous marks set by Bitcoin on January 2, 2021 and December 22, 2017.
Likewise, The TIE highlighted the appreciation of the price of Dogecoin, the volume of Twitter and the trade volume.
To this end, in addition to seeing a spike in Twitter activity. Dogecoin (DOGE) experienced a similar increase in trade volume. At the same time, the price of the digital currency soared 223% in that 24 hour period.
Let’s get to know a little about Dogecoin
Indeed, Dogecoin was created in 2013, by software engineers Billy Markus and Jackson Palmer. Who decided to create an instant payment system, fun and free of traditional bank fees.
To do this, the coin featured the friendly face of the Shiba Inu dog from the popular “Doge” meme as its logo.
It was initially created as a joke. But, since then it has found a community.
The price of DOGE goes up
In reality, DOGE’s price seems to have risen thanks to worldwide attention on the r / WallStreetBets subreddit. The Reddit group that has successfully caught Wall Street traders in a short squeeze. By acquiring a large number of shares in GameStop and AMC.
To better understand, GameStop, is an American store that sells games, consoles and other electronic products.
Precisely, Reddit users on other channels left subtle clues to invest in the cryptocurrency. Although the moderators of the subreddit tried to eliminate any attempt to raise the value of DOGE.
As a curiosity, Elon musk, CEO of Tesla, tweeted an image of a dog posing on the cover of a magazine. A likely nod to the rise of DOGE?
By way of closing, according to CoinMarketCap, the value of Dogecoin (DOGE) continues to rise. Outperforming a host of other cryptocurrencies.
I say goodbye with this phrase from Godfried Boogaard: «In the past you were what you had. Now you are what you share».