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TikTok Let the Doge Out: Why 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 2,000% in volume. What gives?

For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.

This episode is sponsored by Bitstamp and Crypto.com.

Related: Bitcoin News Roundup for July 9, 2020

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?

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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

Related: Bitcoin News Roundup for July 8, 2020

See also: How the Fed Fans the Flame – The Best of The Breakdown June 2020

TikTok as a launchpad for viral music:

Modern day trading on Fox Business:

Pro-Doge perspectives on TikTok:

Anti-Doge perspectives on TikTok:

For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.

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