After Dogecoin soared 10 times, how many "skyrocketing coins" are there?

In the past few days, U.S. retail investors have exploded in GME, causing Wall Street's short-selling institutions to fail miserably. Wall Street brokers have begun to "play tricks" and banned GME from buying one after another, causing GME's stock price to begin to fall. However, retail investors still did not give up, and began to target other investment targets that brokerage firms could not prohibit, including Dogecoin.

Under the vigorous buying of retail investors, the increase of Dogecoin reached 10 times in a very short period of time, which shocked the entire currency circle.

Friends who are new to the currency circle may not be familiar with Dogecoin. This coin is a very early altcoin. It is basically a replica of Bitcoin, but there are two main modifications on the basis of Bitcoin: one is to greatly speed up the block generation time, and the other is to increase the upper limit of circulation. Set to unlimited, there will be 5% inflation every year.

The reason why the designer of this coin designed such a coin was that the price of Bitcoin at that time was too high and not suitable for popularization, so he designed this coin with a large circulation and much cheaper price, which is convenient for everyone to widely adopt, and can be used like Tips are also rewarded on social media such as forums and blogs.

At the beginning of Dogecoin, this concept was quickly supported by a group of fans, but later when more and more digital currencies came out, Dogecoin became less and less distinctive, and gradually lost the attention of investors.

At the tail of the last round of bull market, it reached its all-time high price of $0.015 on January 9, 2018, and then began to plummet, and hovered around $0.002 for a long time. Dogecoin was basically eliminated by the market.

However, the reward culture created by Dogecoin has left a strong mark in the history of digital currency development. Because of this, it still has a group of very loyal fans, especially on some old European and American forums and social media. Musk of Tesla is a loyal fan of Dogecoin, and he will mention Dogecoin from time to time when talking about digital currency.

One of the most important reasons for the sharp rise of Dogecoin this time is that those veteran fans have played the role of opinion leaders and led the majority of retail investors to start the buying and buying mode of Dogecoin. The price of Dogecoin increased by 10 times.

In this surge of Dogecoin, the early fans are probably the ones who benefit the most, because only they will hold this coin at a low price. If no one introduces newcomers and friends, few people will understand it, let alone buy it. This coin is gone.

In my opinion, the rise of Dogecoin may not last long, and it may not be easy for Dogecoin to maintain its current price. Therefore, from an investment point of view, this variety is not suitable for chasing high.

In addition to retail investors venting their emotions and expressing their dissatisfaction with Wall Street, I think there is another very important reason for the sharp rise of Dogecoin this time: the crazy money-sprinkling action of the US government has begun to take effect, and the funds have flooded to The money in the hands of retail investors began to flee.

Now that retail investors in the United States have free money in their hands, they will definitely look around for a way out of funds. This fund that gathers the power of retail investors is also a force that cannot be underestimated. It is very likely that there will be more such unimaginable surges in investment products in the future.

Only one month has passed in 2021, and the White House has been besieged, and retail investors beat institutions like this for a long time. Next, we are likely to see more "see you soon". The more such things happen, the more it portends that the world is in extreme turmoil. And this kind of extreme turbulence met the flood of funds, it was like a thunderbolt, and it hit it off. I am afraid that we will see more exciting historical events in the future. Fasten your seat belts and wait to witness history.