Reddit Community Responsible For Infamous Meme Stocks Turns Its Attention To ...
Crypto is by no means a novel concept to Reddit. The social media platform features a number of communities dedicated to cryptocurrencies. While crypto projects operate their own official Reddit accounts to stay in touch with their community. Investing in all manner of assets is also widely discussed on the social media platform. These discussions […]
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The meme-based cryptocurrency has exploded on Twitter over the past 24 hours, mirroring the rapid appreciation in DOGE price. Dogecoin (DOGE), a meme coin created as a joke, has seen a groundswell of Twitter activity in the past 24 hours after attention was thrown on the coin by the now-infamous Reddit group responsible for pumping the share price of GameStop. Dogecoin’s Twitter volume — the number of daily tweets versus the 30-day average — skyrocketed 1,787% on Thursday, according to crypto data provider The TIE. In total, there were 89,991 tweets about DOGE over a 24-hour period.In....
GME and AMC push to greater highs on the back of memes as correlations with crypto begin to emerge. This year, stocks like the movie theater chain AMC Entertainment and video game retailer GameStop (GME) have been the vehicle for individual retail traders to show their dissent against the so-called “free market.” Starting in late January and driven by sentiment from Reddit communities such as r/Wallstreetbets, these meme stocks have seen enormous growth this year. GameStop has shown 1,069.80% year-to-date returns, while AMC has shown 1,919.34% gains. At this rate, they should have 2,440%....
The infamous Internet meme “Pepe the Frog” will be immortalized in non-fungible token (NFT) collectible form by the frog’s original creator Matt Furie. Of course, Pepe has been featured in blockchain art before and a series of cards were created via Counterparty in 2016. However, despite the number of NFT rare Pepes on the web, Furie says when it comes to his famous frog, “Everything else is a bootleg.” Feels Good Man “Nothing beats the real thing,” the creator of the notorious Pepe the Frog Internet meme told the Washington Post (WP) this week.....
As GME plummets and traditional financial media turns its attention elsewhere, where does the retail trading insurgency go from here?
Reddit’s Wall Street Bets is beating hedge funds at their own game. Crypto exchange FTX has listed GameStop, the global videogames retail chain, after the stock became by far the most popular choice on Reddit’s infamous Wall Street Bets, a community dedicated to trading stock market options.The FTX listing on Wednesday morning allows crypto traders to get in on the action as well. The offering comes as part of FTX’s tokenized stocks program, which features both spot and futures markets for popular stocks and indices. This allows crypto traders to get exposure to stocks using crypto and....