i know it may be surprising to ppl but i actually spend a lot of time looking at the market and deciding which coins i believe will run, i bought a lot of memes when i started looking at solana again bc i thought bottom was close and believed onchain would heat up again when it eventually started its uptrend, similarly to what happened prior cycles, some of them were older memes, some of them were newer memes
for a memecoin to do well it needs a community of people who are both good at making content and also good at going viral while also being generally likable to the average person, all three of these things are important, as well as how relatable the meme is to people - there are a few memes who have ppl that are just too negative for the coin to ever do well, and there are some memes that are just not relatable to your average person imo
i did not hard shill any of them and wanted to see which ones would show the most market strength, some did some didn't, a lot of the older memes that people have been holding for awhile are not going to be net new interesting to someone, which is also another key factor in building momentum early because ppl want to feel like they are early to something and newer things always do better than old, there are a ton of memes that have been on the internet forever and dont do well as coins or needed multiple attempts to do so
most of the memecoin volumes are done through pump fun & ppl kept claiming an onchain wallet ppl thought was me was endorsing coins so i made a pump account and attached my X to stop ppl from thinking im doing things im not, somebody else devved this coin that they sent me supply of, i dont know who they are, and i didnt acknowledge any of them for the first week or so instead waiting to see what the market would do, when i posted my account again it was to airdrop a portion of the creator fees that had been sent to my wallet as a stimmy to ppl since i know a lot do not have large onchain balances rn and it is ideal to have a starting balance when bull market is beginning, not to shill any one coin, ppl decided on their own to start buying the coin of which somebody sent me 65% & i acknowledged it after it had done more volume than any other meme in the past few weeks, me having a lot of the supply is a positive thing not a negative thing, because as the coin goes higher i can give it out to ppl who do not have a lot of money rn without causing a lot of sell pressure on the chart, and the black bull meme is easily relatable to anyone who trades markets, whether that is stocks or crypto, also im black and CT is hilariously racist, so theres an entire demographic of ppl who not only wont buy the coin but will hatewatch it go up while talking about it being a scam the entire time, it entices ppl who believe i am a good-intentioned person on here and also ppl who believe i have bad intentions, so it gets attention from all sides of the market and its easy to push because its my actual twitter alias
@himgajria@AzFlin Well, the same applies to banks/fractional reserves in the hypothetical scenario of a bank run. In reality, people sell and buy which gives traders the chance to exit even larger positions over time without dumping the chart to 0.
The problem has always been the wealth effect.
Right now, everybody feels MUCH RICHER than they really are -> Unnecessary buying
As soon as asset prices start correcting, which will inevitably happen, these same people will feel MUCH POORER than they really are -> Panic selling
@himgajria@frankdegods Exactly! Bulls always justify their price targets by looking at future growth but they don’t apply the same logic when it comes to future risk lol
@Veek1122138004@WheelerrDealerr 💯 I miss the times we aped coins without knowing who was in it and you had to do manual on-chain research of the top 10-20 wallets…
@believer12137@DexGemsReal@WheelerrDealerr Ever heard of the thing called "liquidity"? 85M mcap and 950K liquidity. Try taking profits on your 100K+ position without collapsing the chart (which will happen eventually)