Welcome back to the breakdown, an everyday analysis breaking down the most important stories in Bitcoin, crypto, and beyond.

This episode is sponsored by BitStamp and Crypto.com.

The breakdown is produced and distributed by CoinDesk. And now here's your host,

NLW. Welcome back to The Breakdown. It is Saturday, July 11th, and this is the weekly recap.

I think when the story of this week gets written, it's

certainly hard not to point to Dogecoin and TikTok as one of the more remarkable episodes,

right? You saw this asset, which as we talked about a few days ago on our show that was all

about this, is effectively

a dormant meme coin. People were very upset that I called it a dead meme coin. I'm sorry,

Doge fans. We can at least call it a dormant meme coin, right? That was pumped in a significant

way by a campaign on this hugely viral platform in the form of TikTok, right?

This hugely viral meme platform.

And we saw significant impacts on the Doge market because meet illiquidity.

It went up something like 35% at its peak.

As of the recording, I'm recording this on Friday and it's down 15% in the last 24 hours.

So it's clearly gone down.

But the volume went way up as well.

The volume went up something more like 2,000%.

You had Frank Shapiro from the block reporting that there were OTC desks that he knew who were fielding calls about this thing.

And, you know, there's so much, I mean, if you want to go explore more about what the real significance

of this was, you can listen to that full episode, but I do think it's very telling of what you're

going to see when this new category of day traders who came into these markets through Robin Hood,

...