Dogecoin Shoots Up 62% As SatoshiStreetBets Looks To Emulate WallStreetBets Success With GameStop

See also: How to Buy Dogecoin

Dogecoin (DOGE), a cryptocurrency that originated as a joke, has surged 62% at press time to trade at $0.0132 early Thursday.

The surge comes despite the overall bearish cryptocurrency sentiments, with Bitcoin (BTC) trading 0.6% lower at $31,558.26 at press time.

See also: Today’s Dogecoin Price

Reddit community r/SatoshiStreetBets is calling for users to pump the joke cryptocurrency in a manner similar to r/WallStreetBets’s short squeeze of stocks like GameStop Corp. GME, AMC Entertainment Holdings Inc. AMC, Nokia Oyj NOK, and BlackBerry Ltd. BB.

See Also: Ethereum, Dogecoin And Other Cryptocurrencies You Can 'Create' Using Your Laptop

This isn’t the first time that the joke cryptocurrency would be surging through such coordinated efforts. Tesla Inc. TSLA CEO Elon Musk has often sent the cryptocurrency soaring with his tweets.

An adult film star tweeting about Dogecoin earlier this month also led to a 125% surge at the time.

DeFi cryptocurrencies are also shooting for record highs, despite the Bitcoin slump.

Read Next: WallStreetBets Gets Shoutouts From Cuban, Portnoy, Musk, AOC: Who's Saying What

Photo by Dogeloverforever on Wikimedia