What’s the logic behind the skyrocketing meme currency?
Pepe rose another 20% this morning, breaking a new high
Pepe is just like Shib in the last round, it has skyrocketed crazily, and there is no reason, no reason
Recently, I have observed that none of the new coins this year can outperform MEME. Why are retail investors no longer buying fund coins, but running to play with memes?
1. The origin of meme
In the stock market, the earliest origin of meme is the company GameStop, which has doubled again in the past few days.
In 2021, a YouTube blogger named Keith Gill advocated. He believed that GameStop was undervalued and began buying shares and call options in the company in 2019. As the stock price rose, his investment significantly increased in value.
In January 2021, more r/WallStreetBets investors responded to Gill's actions and collectively bought GameStop stock. This caused the stock price to rise sharply, triggering a short squeeze that forced hedge funds to buy back the stock at a higher price to cover their positions, pushing the stock price even higher.
GameStop's stock price peaked at the end of January 2021, once reaching $347 per share. The situation attracted widespread media attention and spurred widespread discussion about market dynamics, retail investing, and the power of collective action in the digital age.
The event is seen as a landmark moment that demonstrated the impact of retail investors on financial markets, challenging traditional market dynamics and the dominance of institutional investors.
This movement is known as the earliest start of the stock meme. At that time, the rise in GameStop's stock had the greatest impact on DOGE, which soared 18% in one day.
