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BREAKDOWN: TikTok Doge Is Everything About 2020 Finance In One Story
After a week of viral videos on TikTok, Dogecoin is up 35% in price and 2000% in volume. What gives?
Listen or watch all the new CoinDesk podcast episodes wherever you want.
ABOUT
This episode is sponsored by Bitstamp and Crypto.com.
What’s old is new again!
What happens when you combine a mostly hibernating memecoin with the world’s most powerful (and controversial) meme platform, and throw in a new generation of daytraders that have become convinced that they can drive the price of anything up?
The great TikTok Doge pump of 2020, of course.
In this episode, NLW breaks down:
- The history of Dogecoin
- How TikTok became one of the most popular, influential, and controversial apps in the world
- Why the r/WallStreetBets, Davey Day Trader Global Global, and Robinhood Rally day trader movement perfectly set up this pump
- How #TikTokDogecoinChallenge began to trend
- What has happened to Dogecoin since the trend started
- Why this all makes a weird sort of cynical sense
Excerpts/Clips in this episode
- Rockefeller Street
- Savage Love
- Roses
- Old Town Road
- Dave Portnoy talks trading
- Let's Get Rich - Doge on TikTok
- kindashortidiot - More Doge on TikTok
- VirtualBacon - Doge realism on TikTok
HOST
CoinDesk
CoinDesk is the world leader in news, prices and information on bitcoin and other digital currencies.
We cover news and analysis on the trends, price movements, technologies, companies and people in the bitcoin and digital currency world.
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