Dogecoin Surges as Reddit Traders Push to Make It the Crypto GameStop

Re:Dogecoin Surges as Reddit Traders Push to Make It the Cry... by gus_massa on Thursday January 28, 2021 @11:17AM (#25944200)

IIUC the trick with GameStop is that some big traders are shorting it, and eventually they will have to buy it at whatever price it is. But ... who is shorting Dogecoin?

Disclaimer 1: I didn't invest in neither. I'm here just for the popcorn.

Disclaimer 2: This is not financial advice.

Disclaimer 3: Never invest more than you can afford to lose.

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Re:Dogecoin Surges as Reddit Traders Push to Make It the Cry... by gnicholas on Thursday January 28, 2021 @11:23AM (#25944304)

The article doesn't say anyone is shorting Dogecoin — just that the people buying/encouraging are referencing the GameStop short squeeze.

As far as I can tell, it's just people trying to flex their muscles and see if they can do the same thing with Dogecoin (both for the lulz and to make some money in the process).

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Re:Dogecoin Surges as Reddit Traders Push to Make It the Cry... by gruez on Thursday January 28, 2021 @12:42PM (#25945482)

So basically a pump and dump.

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Re:Dogecoin Surges as Reddit Traders Push to Make It the Cry... by realPubkey on Thursday January 28, 2021 @01:05PM (#25946008)

Yes.

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Re:Dogecoin Surges as Reddit Traders Push to Make It the Cry... by whatshisface on Thursday January 28, 2021 @11:54AM (#25944760)

The lack of a 150% short interest on Dogecoin limits the extent to which it can go like the other one.

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Re:Dogecoin Surges as Reddit Traders Push to Make It the Cry... by TYPE_FASTER on Thursday January 28, 2021 @10:25PM (#25953439)

Reading the Dogecoin subreddit, when Robinhood stopped allowing users to buy AMC/GME, they just bought DOGE instead.

Or, those posters are DOGE-whales, if such a thing exists, who are pumping it.

Or both. Who knows.

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Re:Dogecoin Surges as Reddit Traders Push to Make It the Cry... by scaraffe on Friday January 29, 2021 @01:10AM (#25954587)

pump and dump at a global scale, because GME was mostly US market. They are hoping the global numbers can replicate the short squeeze.

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