Although the temporary restrictions on RobinHood are still in effect, Dogecoin (DOGE) could again be the target of an organized pump.
It all started on the Reddit WallStreetBets community, which now has over 8 million members, with the actions of GameStop (GME) listed on Nasdaq.
Looking at the GME price chart, it is immediately apparent that the pump stopped at some point on Thursday, January 28.
Until January 21 the price had always been below $ 50, but from January 22 it began to rise, with a real boom from January 26 to 28, when it suddenly went from $ 80 to almost $ 500 .
Since the morning of Thursday 28, the growth stopped, the price fell to 126 dollars and then rose again to 350 dollars. The next day it fell again to almost $ 250 and yesterday it fell again to less than $ 200.
Therefore, the Thursday 28 the pump stopped.
That was also the day that RobinHood ad restrictions due to excessive volatility.
Those restrictions remain in effect and they also involve cryptocurrencies.
Meanwhile, speculators' attention has turned to other assets, such as XRP, whose attempt to pump, which also originated from WallStreetBets, failed.
Doubts about the Dogecoin pump with Robinhood
The next attempt seems to be on Dogecoin, but there are some doubts.
Although the interest of the WSB community in DOGE is evident, there is no strong evidence that the same community is organizing a pump for this cryptocurrency.
A few days ago, however, it seemed that they were somehow involved in the previous pump which took the DOGE price from 7.7 thousandths of a dollar to over 70 thousandths in just over 24 hours, so even if they don't seem to be involved they might somehow have something to do with it.
This time behind the initiative of the new pump attempt, scheduled for Thursday, February 4, there are some users of the r / dogecoin community, which has already exceeded 750,000 members.
But the previous pump on January 27 and 28 may also have been hampered by RobinHood's restrictions.
Therefore, there is at least three reasons to doubt that there really is a new pump for him dogecoin price February 4.
- The huge WallStreetBets community may not be behind this attempt, but only the smaller community on the Dogecoin subreddit.
- The restrictions on RobinHood remain in effect.
- The last similar attempt with XRP has practically failed.