There appears to be a repeat of what happened with the GameStop (GME) stocks in the action of investors related to the price of Dogecoin and XRP. The rebuttal of WallStreetBets and hedge funds are taking a new turn as investors now deliberately pump up Dogecoin prices as DeFi finds itself in a ramshackle.
In another news, Wall Street did not have a good time this week and according to recent news, it takes a worse shape than the October hit. In the crypto market, BTC did not make any big moves for the past 24 hours but is only down by approximately 0.10%. This downturn comes after the huge price rally triggered by Elon Musk’s Twitter description that was changed to “Bitcoin”.
Ripple And Dogecoin Making Headline With Extraordinary Price Hike
But as we move down the crypto ladder, Ripple and Dogecoin are making extraordinary gains. XRP is up by 31% after a supercharged weekend. The price is almost doubled following this time.
Analysts are coming up with various theories regarding this unnatural price hike but some are of the opinion that these prices are simply being GameStopped. There have been Twitter posts with the caption, “The markets are actually becoming a meme”. This post comes with an image that reads over 55,000 investors are pumping and holding XRP stocks.
Ripple is not the only one with this fate. Dogecoin is also moving up the hike ladder at this extraordinary pace. Price of Dogecoin is up by 40% within 24 hours after the stock became an online trend in several countries.
On the other hand, DeFi is going through a rough week facing a down of 8.6% after breaking records last week. Along with this, Wall Street is making headlines every day with the ongoing sell-off driving the market currently.