It looks like WallStreetBets (WSB), the group of redditors that recently flipped off Wall Street by pumping GameStop’s stock, have now got “meme crypto” Dogecoin in its sights. In just one day, DOGE has already surged by up to 80%, according to crypto metrics platform CoinGecko.

“Has Doge ever been to a dollar?” tweeted “WSB Chairman” earlier today.

Around the time the message was posted, DOGE’s price surged from $0.0075 to as high as $0.0136 today. At press time, the coin is trading at around $0.0125, up 58% on the day.

Subsequently, the “meme coin’s” price has caught up with some national fiat currencies across the world. For example, DOGE is now trading at a nearly 1:1 exchange rate against the Russian ruble on various trading platforms. On Binance, for instance, one Dogecoin is currently worth roughly 1.025 rubles.

While there is no clear ideological reasoning behind DOGE’s pump today—unlike in GameStop’s case—today’s shenanigans are still spreading like wildfire as users seem to be having fun just for the sake of it.

“in #dogecoin we trust … and our chief elonmusk. Let’s make it worth something .  doge is us, we are doge,” one user tweeted.

As Decrypt reported, the WSB’s pump of GameStop’s stock resulted in huge losses for some Wall Street firms who were shorting the asset and struggled to get out of the trade. The same may have happened to Dogecoin traders—if any of them were shorting it.

The testnet for Diem, the Facebook-backed stablecoin project, reached over 50 million transactions yesterday, data from blockchain explorer inDiem shows. The development comes a little over a month after Diem was rebranded from the erstwhile “Libra” project.

Diem is a stablecoin—a type of cryptocurrency pegged on a 1:1 basis with fiat currencies, the US dollar in this case—aiming to disrupt the traditional payments market with its low-fee, scalable, and fast settlement features. It is run by the Diem Association and a consortium of other members, such as crypto exchange Coinbase and ride-sharing giant Uber.

Currently running in the testing phase—or the “testnet” in crypto industry lingo—Diem reached over 50 million transactions in the late hours yesterday. Such testing allows developers to mitigate faults within the network, if any, before a public release.

Data shows the Diem testnet operates at an average throughput of over 3 transactions per second (tps). While sounding fast, this is much slower than transactions on both Bitcoin (4.6 tps) and Ethereum (15 tps), and much slower to the speeds on upcoming networks like Solana (65,000 tps). However, Diem may not be operating anywhere near capacity.

In terms of testnet users, over 221,000 individual addresses have interacted with Diem in some capacity. Of those, a single address holds over 100 million LBR (the tokens that run on Diem), while over 53 of those hold exactly 820 LBR.

In all, 57 of the top 100 wallets hold upwards of 29 LBR, while the others hold a single LBR each—likely for testing the network in various ways at various times of the day.

With testing in full flow, a public launch (albeit a so-termed “limited launch) for Diem is expected later in 2021, as per earlier reports. Meanwhile, the stablecoin has already found its takers, with music app Spotify said to already be beefing up its payments division in anticipation.