🍌Haven't done a @BoredApeYC chart in awhile and with all the recent news, here is a look at what is possibly happening. Social sentiment on the project were at peak lows last month but recently, there has definitely been a shift and trend reversal.
If true, then it looks like we finally hit bottom last month and finally printed the c wave of major wave 2. It is norrmal for major wave 2 to last longer and retrace anywhere from 61.8% or more. In this case, BAYC had a 90% correction. With volatile assets like NFT's, we have seen almost every project retrace at least 70% from their all time high during their wave 2 journey.
Thus far, 95% of meme coins or NFT projects will die after their wave 2 and will not recover. If there was a project that will recover form this on the NFT side, it would have to be BAYC. Because if they cant do it, which NFT project would even have a shot?
And this is the main reason why everyone should be cheering for the apes.
I've outline where I think some of the major resistance lines are (A-D) when BAYC goes back up. There's really not a lot of resistance until 25-20 eth area (point A) so I can see that as the target for the first movement up. Perhaps a retracement right after to help form an inverse triangle pattern before the next leg up to point B which is around the 60 eth area.Its always incredibly hard to predict the timing but the cryptobull is upon us and NFT bull cycle will follow afterwards.
It is my believe that the apes that were previously in the club only for a quick buck are now out and those who are currently in, are here for the community and for the right reasons. Because of this, the shift in social sentiment should help propel and promote the upcoming wave 3. It will take some time but the FOMO and the hype will return.
Stay Bored
🍌
فيديو | رحل أمير الشعر.. بدر الفن وحسنه إشراق الأدب وإبداعه.. وفاة الأمير الشاعر #بدر_بن_عبدالمحسن عن عمر ناهز الـ 75 عاماً
https://t.co/M2ntKgzmbR
#جريدة_الرياض
Imagine selling the bottom of $FRIEND instead of buying clubs so you can now talk to the same redards (like me) in telegram, discord and NOW @friendtech
Omar et Jérôme dans un bar ? Qui scandent votre nom ? C'est possible ! 📢
Ne manquez pas l'opportunité de rejoindre l'ambiance électrique du stade lors de #PSGTFC en rejoignant le canal de diffusion @All et si vous entendez votre nom scandé, un rêve deviendra réalité. 📺
Rejoignez le canal ➡️ https://t.co/xTjwwyXuL2
Never ever focus on one thing only in web3
-> @CC2Ventures is furious because of LayerZero‘s sybil filtering and their airdrop potentially ruined
-> @Blast_L2 is inflating gold supply (no surprise) and gold price goes down
Always always bet on more than one thing.
Farm more than one airdrop. Bet on more than a single narrative.
Learn about more than one single thing.
Don’t be the gaming maxi who is blind to restaking. Goes the other way round too
Don’t be the Solana maxi who never touches ETH or BTC and vice versa.
Personal comment: CC is obviously farming more airdrops and already diversified by doing so.
Personally annoyed by layerzero for calling all merkly users sybils
Push a button, lose $71m.
Today a scammer was able to use "address poisoning" to trick someone into sending him $71mn worth of WBTC.
More below.
The space can be so insanely unforgiving.
Big shoutout to @Pratik_in_Web3 and @thecolonyxyz for their Beta launch and smoooth UX/UI 🍾🎉
I’m a big believer that tokenization of RWAs is going to change the way us collectors do our shopping, and for that I Had to pick up my first one, and safely store it at @Brinks.
🐝