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Dogecoin Joke Cryptocurrency Spikes As r/WallStreetBets Redditors Troll Hedge Funds Newsweek 1/28/2021 Jason Murdock © Yuriko Nakao/Getty In this photo illustration, visual representations of digital cryptocurrencies, Dogecoin and Bitcoin are arranged on January 4, 2021 in Katwijk, Netherlands. The value of a meme cryptocurrency called Dogecoin rose on Thursday morning amid speculation on Reddit that it could benefit from a surge of interest in financial trading sparked by the r/WallStreetBets community this week. Price trackers logged a sudden upwards trajectory between January 27 and January 28 as Dogecoin s value increased by more than 70 percent, reaching a peak of $0.0138 before falling to approximately $0.01, in the space of about two hours.

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