Dave Portnoy, founder of Barstool Sports, a company which was recently acquired by Penn National Gaming for a whopping $450 million, called out the move in a short video he shared on Twitter.
In the video, he laconically asked: “What's going on with Dogecoin?!” He continued by arguing that the pump and dump created a new bubble. Meanwhile, the TikTok community has been putting a lot of effort to bring the value of $DOGE to $1, as if trying to make owners rich quickly.
With a 90% increase in the value of DOGE over the past 24 hours, this is not a healthy nor stable growth, and puts the crypto sector under a bad light. The downside to the gaming industry is that Dogecoin is one of many usable tokens at crypto casinos.
Following the recent mass-purchase, we can probably presage a severe crash in its value, prompting smart Dogecoin owners to exchange their tokens now while the pricing offers a good rate.
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Dogecoin's heady increase is bound to find a sudden, abrupt crash at some point, and Mr. Portnoy is right to call out the oddity in the pricing of the currency in public.
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