The impact of the Reddit subreddit r / Wallstreetbets appears to have spilled over into the cryptocurrency territory after the new coin topped the CoinMarketCap ranking on Friday.

The new coin, called WallStreetBets (WSB), appears to have surged over 130% in the last 24 hours, with a daily trading volume of $ 100 million.

However, the new coin appears to be the latest in a series of jokes that the CoinMarketCap team has made. The following message is on the CMC Currency page:

“All UR MeMes Rs belong to us and Charmander Mart !! 11. We are looking for Professors Alpha and Beta. Please note that this is a joke and that there are no such assets. If you see projects with similar names, be careful and stay out of the way. ”
The link for Charmander-marth links to a YouTube video where Social Capital Chamat Palihapitiya CEO is interviewed by CNBC about the successful trading in GameStop stocks during a short clip initiated by r / Wallstreetbet’s subreddit.

The CMC Coins page offers a brief timeline of the GameStop saga, describing the briefing journalistic tactics and the aftermath of it on the Robinhood trading app, which halted the sale of GameStop and several other stocks, including AMC, Nokia, and Blackberry.

By clicking on the official coin document, you reach the MuzlM_Trader Twitter page, whose tweet also drew attention to Chamat Palihapitiya’s appearance on CNBC.

The effect of the subreddit on the cryptocurrency region was also noticed in a price jump initiated by Dogecoin (DOGE), which quickly entered the top ten in the market capitalization after the spot rate increased by 570%. DOGE’s rise in popularity was also driven by Reddit.

Source: CoinTelegraph