Coinciding with the surge is the hashtag #DogecoinArmy, which is trending in several countries including Pakistan, the United States, and the United Kingdom. The trending hashtag follows days of organised effort from Doge investors on Reddit.
The move to coordinated trading efforts to pump the price was similar to the GameStop-style meme success from r/WallStreetBets this week.
On r/WallStreetBets, grassroots investors conspired to frantically buy GameStop’s shares to push up its stock prices, forcing hedge funds to buy up even more.
Today’s surge is the continuation of the Dogecoin hype that started earlier this week. But that hype was sharply interrupted when Dogecoin fell by 39.74% in the past 24 hours.
Dogecoin started out as a ‘meme coin’ intended to poke fun at Bitcoin knockoffs, but the coin is so popular that its market capitalization is $9.3 billion, making it the 14th largest cryptocurrency by market cap, according to metrics site CoinMarketCap.
Russian individuals and groups are using Kyrgyzstan’s cryptocurrency ecosystem to evade international sanctions, according to research from UK-based blockchain intelligence firm TRM Labs.
Publishing its findings in a blog, TRM Labs reported that Kyrgyzstan appears to be serving as a front for cryptocurrency platforms and services linked to Russian exchange Garantex, which was shuttered in March after an international operation.
New TRM analysis shows how Russia is turning to Central Asian natio...
Public Keys is a weekly roundup from Decrypt that tracks the key publicly traded crypto companies.
ETHA hits warp speed
BlackRock’s iShares Ethereum Trust, which trades under the ETHA ticker, just became the third-fastest ETF to reach $10 billion.
It reached the milestone in 251 days. And was beat by BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund—which did it in 34 days and 53 days, respectively.
There was much hand wringing and head scratching on Wall Street when the...
Sen. Elizabeth Warren (D-MA) has slammed the recently passed GENIUS Act, saying the American people will “pay the price” for the groundbreaking crypto legislation.
The act, which was signed into law by President Donald Trump earlier this month, provides legal clarity for stablecoins. It establishes a framework for issuing and trading stablecoins, which has prompted increased interest in them from banks and major retailers.
In an interview with Vanity Fair, Warren acknowledged the U.S. needs “str...