SatoshiStreetBets HODLing Dogecoin “For The Lolz”

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Last Updated on 23 March 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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CNBC, CNN, the New York Times and even the Washington Post are all finally learning Chanspeak (for the lolz) after WallStreetBets took over mass media this week with the GameStop debacle. In fact, the article that the New York Times published about WallStreetBets member Roaring Kitty was in that respect a must read.

The Chans and Redditors have even managed to take down some hedge funds, which was always their main goal.

By now, New York Mets owner and illustrious hedge fund manager Steve Cohen has had to close down his Twitter account after drowning in negative comments.

Advertentie.

Portnoy versus Mets owner

Cohen manages the Point72 Asset Management hedge fund and was one of the guys (together with fellow hedge fund Citadel run by billionaire Ken Griffin) who came to the rescue of Melvin Capital Management for the tune of $2.75 billion this week, after his former protegé got crushed in a short squeeze.

In order to make sure that they wouldn’t be disturbed as they closed out their short positions, they ordered Robinhood to stop traders from selling shares of GameStop for a 24-hour period. They also limited trading in crypto as they noticed a mass outflow from classic finance to the cryptosphere

Dave Portnoy, who has a massive following on social media, got into a public fight with Cohen over it after which the latter decided to close down his Twitter account.

SatoshiStreetBets

Over at Reddit itself, another group has joined the discussion as SatoshiStreetBets (the WallStreetBets group for crypto) seems determined to take Dogecoin to $1. Whether they’ll succeed without any hedge funds shorting on the other side is unsure, but that it’s fun to watch is certain.

Although some streamers and celebrities seemed to have gotten in on the high and are now experiencing their first crypto dump, the meme coin is still up more than 220% for the week.

They got helped by Tesla CEO Elon Musk, who tweeted a Dogecoin meme earlier this week. Since then, the illustrious memecoin has been rising to heights unseen before, at a certain point even by 800%.

SatoshiStreetBets is calling upon their 160,000 followers to take DOGE to $1. Looks like the WallStreetsbets saga isn’t over just yet and has found a crypto companion. Even the WallStreetBets Chairman, who has almost a million followers on Twitter by now, is joining in and tweeted a simple Woof.

Fun times for sure.

winst2014 / Depositphotos.com