Let's Face It — 2024 Was a Weird Year

One trend, in particular, has made headlines over and over again: the rise (and inevitable fall) of meme coins tied to celebrities, viral moments, and internet hype.

Let’s face it—2024 was a weird year. Between trying to figure out whether TikTok’s algorithm is controlling our every move, dealing with the never-ending student loan drama, and watching as new crypto scams pop up like clockwork, it feels like the universe is just shaking its head at us.

One trend, in particular, has made headlines over and over again: the rise (and inevitable fall) of meme coins tied to celebrities, viral moments, and internet hype. From Hailey Welch’s crypto drama to the meteoric rise and fall of TRUMP and MELANIA meme coins, it’s become painfully clear that the lack of financial education is costing people—big time.

The problem: Hype-driven crypto and financial illiteracy

Let’s zoom out for a second. These meme coins, while entertaining to watch, are part of a much larger pattern. Young adults today—often fueled by social media and FOMO—are diving into crypto with little to no understanding of the risks involved. One minute, they’re posting about their latest “picks,” and the next, they’re watching their investments evaporate faster than a trending TikTok sound.

Take the TRUMP meme coin, for example. It skyrocketed to a staggering $14 billion market cap within 48 hours of its launch, raking in $50 million in trading fees on its first day alone. But like many hype-driven investments, the crash came just as quickly. The coin plummeted over 50%, wiping out billions in market value.

The MELANIA meme coin suffered an even harsher fate. After reaching a peak of $13.05, it lost 80% of its value, leaving latecomers with massive losses.

And then there’s Dogecoin (DOGE)—the OG of meme coins. While it started as a joke, it gained real traction thanks to celebrity endorsements and viral hype. But without a clear use case or long-term stability, it remains a rollercoaster ride for investors who often jump in without truly understanding what they’re buying into.

It’s a tale as old as time—hype lures people in, and a lack of financial knowledge leaves them vulnerable to significant losses.

Moving forward: 2025 financial focus

It’s a new year, and although the Monopoly board of life still doesn’t offer $200 for passing Go, financial education is still the best way to navigate the game.

Because while everyone else is trying to make a quick buck on the next viral crypto coin, those who take the time to understand how money works are the ones actually winning.

Financial literacy isn’t a luxury—it’s a necessity. And in a world full of hype-driven investments and too-good-to-be-true promises, it’s the best tool we have to protect ourselves.

That’s why credit unions play such a crucial role in bridging this knowledge gap. By equipping people with the right education and tools, we can help prevent another round of get-rich-quick heartbreaks.

Zogo is one way credit unions are doing just that. It’s a research-backed, interactive platform that simplifies personal finance and investing with expert-driven, jargon-free content. Unlike social media hot takes, Zogo delivers factual, reliable education—no speculation, just real financial literacy. Because the best investment anyone can make is in their own financial knowledge.

Request a demo for your community today.