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?

July 8, 2020

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Host

CoinDesk

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