The return of “Roaring Kitty” has boosted several so-called meme stocks in the U.S. markets this morning.
Around this same time, traders began piling into Dogecoin, which was trading under $0.01 a share in January 2021 and crossed the $0.50 mark that May before falling back. DOGE currently trades at $0.15. “Crypto is often criticized for not having use cases for the average Joe, and that is a fair comment,” Bus said during a speech at BUIDL Asia in Seoul In March. “But memecoins actually have been successful, consistently, in bringing people on-chain.”
Today, crypto makes up a significant portion of Robinhood’s business. In the first quarter of 2024, crypto trading volumes increased 224% year-over-year to $36 billion. Equity trading volumes rose 40% year over year to $225 billion.
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