BREAKDOWN: TikTok Doge Is Everything About 2020 Finance In One Story

CoinDesk Podcast Network

CoinDesk

Cryptocurrencies, Cryptocurrency, Dlt, Tokenization, Coindesk, Distributed Ledger, Blockchain, Tech News, Business News, Ethereum, Bitcoin, News, Digitalassets, Daily News, Decentralization, Defi, Crypto, Business

4.8 • 689 Ratings

🗓️ 8 July 2020

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

Click on a timestamp to play from that location

0:00.0	Gather round, friends, as I tell you the tale of the single most 2020 financial story imaginable.
0:08.7	It is the tale of a virtually dead internet meme coin from 2013, resuscitated by an internet meme
0:16.8	feeding platform that is at the center of a geopolitical conflict between China and the United States.
0:23.9	Yes, this is the story of TikTok and Doge.
0:31.2	Welcome back to The Breakdown, an everyday analysis breaking down the most important stories
0:36.6	in Bitcoin, Crypto, and Beyond.
0:40.3	This episode is sponsored by BitStamp and Cipher Trace.
0:44.5	The Breakdown is produced and distributed by Coin Desk.
0:49.4	And now, here's your host, NLW.
0:57.1	Welcome back to the breakdown, guys.
0:58.9	It is Wednesday, July 8th, and yes, we are telling the story of TikTok and Doge today.
1:04.9	As you might guess, I think this has much more to say about the moment that we're living through
1:10.1	than just some headline
1:11.6	grabbers, so I want to give you my take on what makes this story so relevant for this moment.
1:16.6	So to understand this story, we have to start with the background of Doge itself.
1:21.6	So the meme for Doge started before the coin. The meme was based on a 2010 photo and became popular in 2013. The original
1:31.2	meme was a picture of Shiba Inu with Comic Sans font featuring the Doge's inner monologue. It was
1:38.4	Know Your Mem's top meme of 2013. Doge coin then started as something of a joke or at least just a fun, playful
1:48.3	experiment in cryptocurrencies. So in December 2013, Billy Marcus, who was a programmer,
1:54.5	wanted to explore a broader, more fun appeal for cryptos and started talking about Dogecoin.
2:00.3	Because of Twitter, Jackson Palmer,
2:02.5	who was then a software developer at Adobe, learned about it and helped build out the landing page
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CoinDesk, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CoinDesk and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.