Dogecoin is a cryptocurrency which was originally started as a joke.
If you have been online at all the last few days, you must have noticed a lot of posts with the words Reddit, GameStop, Wall Street, hedge funds and stock market. If you don’t fully understand what is happening in the stock market, you are not alone. To put it very simply, the huge buzz was generated after popular subreddit WallStreetBets raised the stock price of GameStop – causing hedge funds to lose money.
“The saga that is GameStop Corp. has turned into nothing short of a national sensation,” states a Bloomberg report. “For parts of the hedge-fund industry, it’s an existential crisis… It’s at least part of the reason the entire stock market tanked on Wednesday.”
Ever since the GameStop saga began, Twitter has been able to discuss little else. Jokes, memes, expert commentary and long explanations have flooded the microblogging platform. Here are some tweets that are laugh-out-loud hilarious even if you don’t fully understand what is going on in Wall Street:
Me disguising myself as a hedge so that I can get funds pic.twitter.com/QFsO8L8iSW
— Joe Gunn (@joegunn) January 28, 2021
GameStop sitting amongst Tesla and Amazon after reddit users make it a Fortune 500 company pic.twitter.com/AVUtcjs6gl
— Jordan Deeb (@Jordan_Deeb) January 27, 2021
Wall Street right now pic.twitter.com/LmmrQdc7jI
— Paul Lawson (@PaulLaw10) January 27, 2021
How the times have changed
Quarantine 2020: I learned how to make bread!
Quarantine 2021: I am the Wolf of Wall Street.
— Full Frontal (@FullFrontalSamB) January 28, 2021
Pandemic Day 25: I made bread 🙂
Day 95: I sure do miss my friends
….
Day 310: The White House appears to be under the control of a shirtless man in a Viking helmet
Day 330: Reddit’s coordinated attack on Wall Street is going as planned
— Bird Facts (@SupramanTrax) January 27, 2021
One of the biggest fallouts of the GameStop rally was free trading app Robinhood’s widely-criticised decision to freeze GameStop trading.
https://t.co/AreM4goHg0pic.twitter.com/CAoeOLKMgB
— GameSpot (@GameSpot) January 28, 2021
Meanwhile, Reddit frenzy also caused the value of cryptocurrency Dogecoin to surge steeply. The digital currency, which was started as a joke, spiked up to 80 per cent.
Me trying to convince everyone to buy #dogecoinpic.twitter.com/V1JZeizSmf
— Osama Bin Ballin (@CRek6) January 28, 2021
Yesterday: “Why you putting so much into #dogecoin it’s a literal meme”
My friends now: pic.twitter.com/gFgykpTfE0
— Stephen A. Smith Burner (@SASBurnerAcct) January 29, 2021
But if you are totally done with stocks markets and hedge funds and short selling, there are memes about that as well:
ok we talked about stocks for two days I think that’s plenty let’s move on
— Sophia Benoit (@1followernodad) January 28, 2021
stocks this! stocks that! When is someone going to invest in ME???
— a (@alejandroo1200) January 28, 2021
my brain trying to add up GameStop + stock market + Reddit + robinhood + hedge funds + Wall Street angry + AMC + eat the rich pic.twitter.com/bdLX8wognH
— Echo Akerman (@echo_shiann) January 28, 2021
On Wednesday, actress and comedian Avalon Penrose took it upon herself to explain the GameStop saga in layman’s terms, and her hilarious explanation has gone viral with a whopping 15 million views in two days.
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