Reddit Recap: Meme, Dogecoin, Bitcoin, and Crypto Growth in 2022

[ad_1]

Pavlo Gonchar / SOPA Images / Shutterstock / Pavlo Gonchar / SOPA Images / Shutterstock

Social media platform Reddit, which was on the rise in 2021, recently posted a year-end “Reddit Recap”. The recap covers a few surprises regarding the platform, including the fact that redditors have expressed more interest in investing in Dogecoin than in Bitcoin.

See: Reddit Confidential Files For IPO – Could It Become Memes Stock? Find: Tesla memes are raging on Reddit’s WallStreetBets after stock fell 5% on Monday

Reddit has been at the center of this year’s market volatility saga – in part because of very active and savvy retail traders on the r / WallStreetBets subreddit – and also announced in December that it had confidentially submitted documents to the Securities and Exchange Commission (SEC) for an initial public offering (IPO).

“Over the past year, Reddit has become the place where people have felt empowered and inspired to share their opinions, experiences and stories and connect with each other to take action and positively impact their communities,” Reddit said in a blog post.

It’s no surprise that among the most viewed topics in 2021, crypto is the number one topic, preceding gambling.

“In 2021, there have been a lot of conversations on Reddit, but none are more important than cryptocurrency. For over 10 years, Reddit has hosted over 500 cryptocurrency communities. As more and more redditors join the conversation, whether it’s for information, help, or to share major successes, Reddit continues to be the hub of cryptocurrency enthusiasts, ”says the summary.

Notably, Dogecoin garnered more interest than Bitcoin on Reddit in 2021: The five most viewed crypto communities in 2021 were r / dogecoin, r / superstonk, r / cryptocurrency, r / amcstock, and r / bitcoin.

Additionally, the blog post notes that r / superstonk’s subscriber growth increased the most among crypto communities on Reddit, growing 917K% year-over-year. There had been 6.6 million mentions of “crypto” on the platform in 2021, as of the date of the recap’s release.

Most popular posts on Reddit

In terms of the most voted posts among crypto communities, Dogecoin reclaims the top spot, with a post titled “Who Still Holds $ DOGE?” with 80,300 positive votes.

Related: Bitcoin Yields Reach Over 70% In 2021, Outperform Gold, Stock Market For Third Year In A Row

This was followed by articles titled “All the Confirmation Bias I need, here in a tweet,” from r / superstonk and “You hear about the kid who put $ 500 in a memecoin and made 100,000, but you don’t hear about it from the hundreds who put in $ 1000 and end up with $ 0.1 ”, from r / cryptocurrency.

Other topics of interest include AMC and Tesla, with the articles “AMC YOU IN JAIL, CHEATERS” and “Tesla buys $ 1.5 billion in Bitcoin and seeks to accept crypto as a form of payment in the near future. », Rounding up the list of the most popular threads.

Reddit expands and opens new offices

In addition to the planned IPO, Reddit said it continues to expand globally by announcing new offices in Canada, Australia and Germany, reaching new redditors around the world.

“The number of shares to be offered and the price range of the proposed offering have not yet been determined. The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions, ”Reddit said. “We are in a period of calm, and for regulatory reasons we cannot say anything more.”

Also: Dogecoin, Stimulus Check and more of Google’s 2021 most searched financial terms

Peter Cohan, a senior lecturer at Babson College and author of “Goliath Strikes Back,” told GOBankingRates at the time that since this is a confidential file, it is unclear whether the business is growing. quickly or earn money.

“At the same time, I could see it becoming a memes store because it hosts WallStreetBets which is the ultimate memes incubator,” Cohan added.

Reddit makes headlines, produces ads

Reddit also noted in its 2021 recap that it aired its “very first 5-second Super Bowl commercial (or as we call it, Superb Owl).” We’ve provided new features – Reddit Talk, Predictions, and CryptoSnoos – that have given redditors more ways to connect and engage with each other.

Learn: Valkyrie Launches Balance Sheet Opportunities ETF With Bitcoin Exposure, Targets “Growing Demand For Crypto Investments In A Simple Way” Explore: Yahoo Expert Predicts 2022 To Be An Even Bigger Year For Crypto

Reddit grabbed the headlines earlier this year as retail traders on r / WallStreetBets, who intended to take down hedge fund short sellers by buying heavily shorted stocks, sent those actions – including GameStop, AMC Entertainment, and Bed Bath & Beyond – skyrocket… then crash. In turn, market volatility has drawn the attention, and sometimes anger, of regulators.

More from GOBankingTaux

About the Author

Yaël Bizouati-Kennedy is a former full-time financial journalist and has written for several publications, including Dow Jones, The Financial Times Group, Bloomberg and Business Insider. She has also worked as a vice president / senior content writer for large New York-based financial firms including New York Life and MSCI. Yaël is now a freelance writer and more recently she co-authored the book “Blockchain for Medical Research: Accelerating Trust in Healthcare”, with Dr Sean Manion. (CRC Press, April 2020) She holds two master’s degrees, one in journalism from New York University and one in Russian studies from Toulouse-Jean Jaurès University, France.

[ad_2]