The Wall Street Bets subreddit has started a movement. After seeing what they did with Gamestop, AMC and other numerous shorted/undervalued stocks, other Reddit communities are doing their part to rally cryptocurrencies. Most notably, Dogecoin has seen its trading volume spike 6300% in a 24 hour period. This market movement isn't by chance, the Satoshi Street Bets subreddit the crypto equivalent of WSB is responsible.
If you head into that sub right now, every single post is about Dogecoin, with talk of sending it to $1. While, of course, Doge is currently only worth a few pennies, is it possible for Doge to hit $1? I mean, it's a longshot, but sentiment always goes a long way in crypto. We have seen what were once considered longshots takeoff. Remember when they said Bitcoin would never reach $1000?
While Hive has yet to introduce native tokens or contracts, we are priced low enough that a rally (whether fuelled by memes or not) takes us back over the $1 mark. Investors are empowered to see what they could do to a large hedge fund. Moving the traditional stock market is no easy feat, so to think that Doge could never hit $1 based on sentiment and community power, you would be wise to bet against that.
Could the Hive community do something similar, band together and each invest a few hundred dollars and hold? Considering our position on Coin Market Cap, I think if we produced enough movement, momentum would kick in and drive the price up even if only because of memes and nothing else.