Dogecoin, which is popularly known as meme cryptocurrency, has recently seen a surge of 90%. It is now about to hit a new all-time high as it is very close to its old all-time high. Analysts believe that the WallStreetBets drama has contributed to this rapid surge in DOGE price.
Along with this, there are several other factors as well due to which Dogecoin has been in highlights for quite some time now. Viral TikTok videos and tweets from Elon Musk have also contributed to this. However, WallStreetBets (WSB) is the major reason behind such a major surge, within a few hours.
WallStreetBets was in the highlights for quite some time now, and this has caused a huge surge in GME price. After this, it has been seen that Dogecoin has gained huge attention through a tweet by WSB Chairman. The tweet stated:
This tweet has got several replies, and it has been seen that a lot of users have started spamming about different altcoins in the replies. Among all other coins, Dogecoin was the one that has grabbed most of the attention. Within 90 minutes of this tweet session, Dogecoin was able to rise by 85%.
As Dogecoin can gain quite great attention, it has been seen that analysts have started predicting a bullish outlook, waiting ahead. It is believed that if Elon Musk tweets about the recent Dogecoin surge, then it will grab the mainstream attention, and then there is no going back. The price of this particular altcoin will surge to a very great extent in the near future if it can gain sufficient attention. People are also eyeing a new all-time high, and hence it could be assumed that a bull rally is about to continue.