When Bitcoin plunged on Tuesday, El Salvador’s President Nayib Bukele tweeted a version of the three words that have become a mantra for meme stock traders: Buy the dip.
This past year, those three words have ricocheted across social media any time a meme asset slumps. AMC shares in freefall? “Buy the dip,” Redditors insist. Crypto taking a slide? Cue a flock of “buy the dip” tweets. A celebrity SPAC is spiraling downward? Telegram groups alight with prods from hopeful buyers.