Bogs and Wojaks: How Crypto Memes Help Traders Deal with the Downturn

The altcoin markets might be in freefall, ICOs dead in the water, and bitcoin nursing a fixed scowl, but you wouldn’t know it on crypto Twitter. Over the past 48 hours, its leading lights have been more preoccupied with having their profile pics “bogged” than posting charts. The Bogdanoff twins are one of the many memes to have taken over the crypto community, providing welcome relief amidst the growing gloom.

When the Market Dies, the Memes Flourish

Pepe Satoshi

It would be easy to write memes off as the frivolous, ephemera that they are. And it’s true that most crypto memes are so esoteric and asinine as to defy explanation. How to account for the phenomenon that is “bog posting” for example, a bizarre tribute to France’s plastic surgery twins who reputedly have the power to crash the crypto markets with one phone call? Or pink wojak, the permanently distressed trader whose every move goes against him – often thanks to a well-timed call from the bogs themselves?

For anyone new to crypto, the meaning behind the memes and shitposting must be an utter mystery. Even those raised in the crypto trenches would struggle to explain why or how such characters came to be synonymous with the constant pain of being at the mercy of bitcoin whales who manipulate the market. All they could tell you, if pressed, is that in times of turmoil, memes make everything better. The world may be burning and the markets dumping, but so long as there are exploitable memes to share, the pain is bearable…

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