The Ticker Is Momo？TikTok refugee wave will push Xiaohongshu to the top of the download chart, and meme coins are also crazy in Chinese terms.

The 1/19 ban on TikTok is imminent, and the US government has demanded that ByteDance sell TikTok's US business to a US buyer before this deadline, otherwise it will be banned. This has also given rise to a new term: TikTok Refugee. These TikTok refugees are mainly flocking to Xiaohongshu, making it the top download, and even the left-wing magazine The Advocate has devoted a special article to 'What is Xiaohongshu.' This has also stirred up a wave of Xiaohongshu meme trends in the narrative-sensitive crypto world.

(TikTok ban imminent, Chinese government considering Elon Musk's intervention for acquisition?)

It is reported that Musk and other billionaires are interested in acquiring TikTok

In discussing the part of American buyers, Musk, Frank McCourt, and Kevin O'Leary have all been rumored to be interested in buying TikTok's US business. It is rumored that this part is valued at 40 to 50 billion US dollars, which is not a small amount even for billionaires. Musk previously spent 44 billion US dollars to acquire Twitter in 2022. Will he now acquire TikTok, including how to obtain funding, is also of market concern. He previously stated that although the ban on TikTok is beneficial to Twitter, he does not agree with the ban on TikTok in the United States due to freedom of speech.

(Sharks smell blood and enter the market: Shark Tank angel investor Kevin O'Leary prepares to buy TikTok)

Xiaohongshu tops the download list, and TikTok refugees emerge

In the case of uncertainty about whether a buyer can be found before the 19th, the term TikTokRefugee has also emerged, with many users who have migrated to other social platforms adding the TikTokRefugee tag. The biggest beneficiary is undoubtedly Xiaohongshu, which also comes from China. The download volume skyrocketed to the top of the Apple Store download list.

The LGBTQ+ magazine 'The Advocate' also featured a special article on Xiaohongshu, stating that RedNote is a short video platform as well as an e-commerce website, providing shopping functions and allowing users to comment on products. This is an alternative to the Chinese version of TikTok. However, due to the company's headquarters being in China, it may face a ban similar to TikTok in the future.

The magazine also pointed out that Xiaohongshu seems to prohibit low-cut clothing and other attire. In addition, a black person's selfie wearing clothes similar to their skin color was removed.

As for the legal aspect, the magazine cited a 2021 study by the Citizen Lab at the University of Toronto, which found that TikTok's data collection methods are almost identical to those of Facebook or Instagram. According to The New York Times, the CIA's investigation into the application also did not find concrete evidence of the Chinese government's abuse of user data. At least based on public evidence, it is difficult to see TikTok as a security threat.

In theory, after being removed from the app store on January 19th, individuals who have downloaded TikTok can still use the app on their personal devices. However, without the ability to receive updates, the app will not be able to operate in the long term, as ByteDance will no longer be able to release new versions. To avoid issues, TikTok has stated that it will begin to gradually shut down its operations in the United States after the ban takes effect.

The Momo Legion of Xiaohongshu leads Chinese terms onto the crypto world.

The TikTokRefugee trend has also spread to the crypto world, and various terms and phrases from Xiaohongshu (Little Red Book) and China have become popular cryptocurrencies today. For example, there is a coin called momo, which has gained popularity due to the anonymous accounts on Xiaohongshu using the pseudonym momo. This has led to the formation of the momo army.

In addition, mascots like the Captain of Snow Miku, Rednote, etc. of Miku Bingshengcheng have also become popular targets. Although many people think that Xiaohongshu, TikTok, etc. belong to speed dopamine, seeing them too much will lower their IQ. However, under the phenomenal trend, it may be necessary to spend some thought to understand the trend of Generation Z.

This article The Ticker is momo? The TikTok refugee wave pushed Xiaohongshu to the top of the download list, and the meme currency also went crazy with Chinese terms, first appeared on Chain News ABMedia.