Dogecoin, the dog-themed cryptocurrency, has witnessed an astronomical rise in the past few days, promoting industry insiders’ attention.
However, celebrities and crypto newbies are also keeping an eye on the asset, with multifaceted media personality Mia Khalifa announcing that she had bought into it.
Mia Khalifa, Pro Investor
Khalifa, who has transitioned from adult movies to content subscription service OnlyFans, took to her Twitter page to announce that she “caved and bought the dog stocks.”
Okay I caved and bought the dog stocks lmaoooooo
— Mia K. (@miakhalifa) January 29, 2021
The announcement continued what appeared to have been a stock-purchasing spree from Khalifa. Yesterday, she tweeted that she was “playing with pennies,” showing a screenshot of several stocks that had been pushed by Wall Street Bets – the same subreddit that caused the stock price of GameStop to skyrocket earlier this month.
At this point, everyone is familiar with Wall Street Bets. The subreddit gained notoriety after revealing that New York hedge fund Melvin Capital had shorted GameStop, causing a buying spree that led to the stock surging by over 600 percent.
Wall Street Bets Pumps DOGE
Sources appear to believe that the subreddit could now have turned its attention to DOGE. Yesterday, a parody account posing as the Wall Street Bets subreddit moderator asked if the asset had ever been worth $1. Since then, social media mentions for DOGE have gone through the roof.
Crypto data provider The TIE noted that Dogecoin’s Twitter volume – the number of daily tweets weighed up against a 30-day average – had jumped by 1,787 percent on Thursday.
Dogecoin tweet volume has surpassed Bitcoin over the last 24 hours.
This is the first time we have on record that an altcoin has been tweeted about more than Bitcoin over a 24 hour period.
— The TIE (@TheTIEIO) January 28, 2021
In total, 89,991 tweets about the asset had surfaced in the 24 hours prior. The TIE’s data also suggested that this would be the first time any altcoin will surpass Bitcoin in Twitter volumes.
Along with surging Twitter volumes, DOGE has also seen a significant price gain. Data from CoinMarketCap shows that the asset is up 342 percent in the past day. DOGE has also broken into the top 10 digital assets by market cap – a feat it last achieved in 2015.
Sadly, the renewed interest in DOGE is also causing some problems for the market. Poloniex, Yobit, and Bittrex have all suspended withdrawals for the asset as investor interest in the asset swells.
$DOGE withdrawals are suspended for maintenance. Trading and deposits are active.
— Binance.US 🇺🇸 (@BinanceUS) January 29, 2021
Binance.US also announced a suspension on DOGE withdrawals, although those appeared to have been part of a larger problem for the exchange. All operations have since resumed on the platform.