Benzinga - Dogecoin (CRYPTO: DOGE) may benefit from the GameStop-induced rally, according to a trader that made a name for himself thanks to daring eight-figure trades on meme coins.
What Happened: Unipics, also known as “Bonk Guy,” expressed bullish sentiment on Dogecoin, citing GameStop‘s (NYSE:GME) stock surge as an indicator of increased risk appetite for meme coins.
Bonk Guy notes that Dogecoin is the most popular meme coin among retail investors and pumped 800% in a single day in the 2021 GameStop frenzy. The trader predicts that Dogecoin is likely the first cryptocurrency that GameStop enthusiasts would buy.
i longed $doge herethesis:
– $GME stock up 100% today = risk on for memecoins
– $doge is the most popular memecoin among retail. it pumped 800% in one day during the last GME mania
– doge is the first crypto the GME folks are likely to buy pic.twitter.com/1DVBzPjAmh
— Unipcs (aka 'Bonk Guy')