Dogecoin plunges after rally, sparking outcry on Reddit

Users on the Reddit thread SatoshiStreetBets -- which describes itself as the "crypto version of WallStreetBets” -- are imploring others to hold on to Dogecoin and not to switch to other cryptos.

DOGECOIN, a Shiba Inu-themed digital coin started as a joke that became the latest obsession for retail traders this week, plunged almost by half Saturday, sparking a flurry of posts on Reddit and Twitter begging coin holders not to panic sell.

The digital coin is down 46% in the last 24 hours and was at $0.02582 as of 4:35 p.m. in New York on Saturday, according to CoinMarketCap data. The plunge came after a blistering sevenfold surge on Friday, when the coin reached over $0.07.