Bitcoin (BTC), the price appears to have turned back the USD 32,000 level to support as the broader cryptocurrency market saw renewed optimism on Jan. 28.
The most notable winner of the day was Dogecoin (DOGE) die more than 200%.
The popular meme coin became the last beneficiary of the 3 million-member Reddit community behind the incredible GameStop (GME), BlackBerry (BBY) and AMC Theaters (AMC) pump that took place in recent days. In the early morning hours of January 28, a Twitter account called WSB Chairman tweeted:
Many of you are talking about Dogecoin. What is that? A meme crypto?
– WSB Chairman (@WSBChairman) January 28, 2021
Shortly afterward, members of the Wall Street Bets telegram began discussing the possibility of pushing DOGE to $ 1.
According to data from TheTIE, the tweet volume for Dogecoin “surpassed Bitcoin in the last 24 hours,” making this the first time “an altcoin has been tweeted about more than Bitcoin in a 24-hour period.”
In a private conversation with Cointelegraph, Joshua Frank, founder of TheTIE, commented on how “wild” the activity related to Dogecoin has been over the past 24 hours.
“Dogecoin’s tweet volume is up 1,665% today, trading volume is up 1,546% and price is up 209%”
Wall Street continues to embrace cryptocurrencies
Coinbase official revealed his plan to go public later this year. According to Coinbase Blog, the company will directly list its Class A common stock, making existing shares available to the public.
North Carolina asset manager Kingfisher Capital also made headlines after filing documents revealed the company had done just that Purchased 10,667 shares from the Grayscale Bitcoin Trust in recent months.
Several brokerage firms in the United States, including the popular mobile Robinhood, are received backlash for stopping trading on stocks like GameStop (GME) and AMC Holdings Inc. (AMC), the main story of the week after one short squeeze inspired by retail investors r / wallstretbets pushed the prices of each share up by hundreds of percent by members of the Reddit group.
Traditional markets also saw a rebound after a small sell-off yesterday. The S&P 500, NASDAQ and Dow all had positive inflows, finishing the day at 0.98%, 0.68% and 0.99% respectively.
Bitcoins showing strength at the $ 32,000 coincided with a strong rally of many altcoins and currently the majority of the top 100 coins reflect gains of 3% to 15%.
The total cryptocurrency market cap is now at $ 984.6 billion and Bitcoin’s dominance rate is 63.2%.