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What's Up With Memes Urging You To 'Buy The Dip'? Jokes About The 2024 Stock Market Crash Explained
The recent stock market crash in Japan and the ensuing fallout in global markets have prompted a slew of memes that urge amateur investors to "Buy The Dip" while they can.
A routine joke often parrotted in cryptocurrency communities and the /r/WallStreetBets subreddit, "Buy The Dip" is both a rousing call for amateur investors, begging them to not lose hope in the face of an abysmal market, as well as a tongue-in-cheek quip about how pointless "buying the dip" can often feel.
But what does it even mean to "Buy The Dip," and is it a sound strategy for those looking to make a buck off falling stock prices? Here's a recap of how the catchphrase is used in online trading communities.
Where Does The Phrase 'Buy The Dip' Come From, And What Does It Mean?
The exact origin of the phrase "buy the dip" is unknown, however, the catchphrase has been popular among investors long before the rise of internet-based trading communities. Some early references to the phrase appeared in finance publications like Forbes and The Wall Street Journal as early as the 1990s, but the motto only came to be associated with ironic meme communities with the rise of crypto and meme stock investors that populated internet-based finance communities in the 2010s.
Essentially, to "buy the dip" is to buy stocks after they have fallen rapidly in the hopes that stock prices will eventually rise again. Buying stocks at a low price and selling them after the market rises again is a standard investing practice, one that has only grown more commonplace with pump-and-dump type meme stocks in recent years.
When Did Jokes About 'Buying The Dip' First Gain Traction Online?
An early meme about how one can turn a profit if they "Buy The Dip" is a 2014 YouTube video by Gerald Pontificus in which a broccoli-themed superhero encourages another superhero to "buy the dip," and presents it as sound financial advice that never fails.
Memes about buying the dup continued to proliferate online in the 2010s, especially on Reddit's Bitcoin-centric communities in the early, more volatile days of cryptocurrency markets.
When Did Ironic 'Buy The Dip' Jokes Grow Popular Online, And Why Is The Phrase Considered A Joke Today?
The volatility of financial markets is no joke, and a common theme seen in investors eager to "buy the dip" is that what they think is "the dip" is simply another leg of a stock's price continuing to tumble downward.
The rise of communities like Reddit's /r/WallStreetBets has led to people making ironic jokes about how lucrative buying the dip can be — oftentimes only when you buy at actual rock-bottom price.
Why Did 'Buy The Dip' Jokes Go Viral In August 2024?
Japan's stock market crashed in a massive way in early August 2024, reaching lows unseen since the "Black Monday" of 1987. The ensuing fallout on the global market led to many people parroting trite jokes about stonks and "buying the dip."
For the full history of "Buy The Dip," be sure to check out Know Your Meme's encyclopedia entry for more information.
