GameStop/AMC/Doge Mania

In January 2021, retail investors on Reddit's WallStreetBets coordinated a massive short squeeze on GameStop stock, costing hedge fund Melvin Capital billions and forcing emergency bailouts. The movement spread to AMC and then bled directly into crypto — Dogecoin surged as the same retail energy that fought Wall Street found meme coins. This moment was the origin point for everything that followed in meme coin culture. It proved that decentralized communities could move markets, that memes had financial power, and that retail investors were done playing by Wall Street's rules. Robinhood's decision to restrict buying of GameStop further radicalized retail investors toward crypto, where nobody could shut off the buy button.