a close friend of mine shilled this to me at 6 mil MC and I jumped in, did not expect it to pull what it has so far so doubled down. gonna let it run. Kind of like the meme and the B in bitcoin sideways does resemble a butt somehow #BUTTCOIN
The biggest streamer in the world, bought $MLG , a 100mil MC meme, live infront of 80.9k viewers and your not bullish on it?
High level convection on this. $popcat $WIF level of convection before they ran. Easiest multibil meme if there ever is another meme run.
while the entire alt market bleeds none stop especially sol memes, base memes have been up only for days. $Toshi is up 4x since coinbase listing with a -4% funding on bybit. makes you wonder.
@realjeighty3 It just might have. With Powell confirming only 2 rate cuts this year I expected a bleed chop till 2026 but man I foresaw a meme run before everything goes to shit. If only that Melania meme didn't drop..... oh well. It is what it is
My understanding of what's going on with $RUNE right now:
- Validators have used a multikey to pause Thor Lending repayments.
- Regular cross-chain DEX operations of Thorchain remain functional -- nothing else of than *Lending repayment specifically* is impacted.
- Why? Repayments mint $RUNE (to buy back collateral), which depresses $RUNE, which scares more loan-holders into repaying, which mints more $RUNE to sell for collateral redemption, etc.
- The fear is that a run on the $RUNE redemptions will be catastrophic.
- Will it? The size of Thor Lending is pretty small compared to the rest of the chain functions -- it could probably actually handle a full run at present, all things being equal. (There is debate on this, but my guess is that this statement is true)
- ... But if Bitcoin price suddenly jumps to say $500K, that means it's now 5x the $RUNE (at current price) that must be minted and sold to buy the collateral to return to the loan repayer. THAT might be too much for the system to handle.
- So. The idea is to pause things so as not to interrupt the cross-chain DEX part of Thorchain, which is working great and is very profitable, and restructure the Lending on Rujira, the upcoming, side-chain DeFi app layer of Thorchain.
I am all for this idea, I think it's wise to pause it for system and chain safety.
$GOAT case in point. Exhibit 2. Almost a full retrace after the bullish news+ a break out. VERY hard to make a bullish case on any alt mid term, keep in mind all this red is while btc is pushing 105k. All its gonna take for alts to make news lows is for BTC to sneeze below 100k
It's crazy to me how volume straight up died in the alt market. With Stargate announced, i expected AI tokens to shoot up or atleast sustain a proper run but barely any moved and most dumped to newer lows. This really told me all I needed to know about current market conditions
It's crazy to me how volume straight up died in the alt market. With Stargate announced, i expected AI tokens to shoot up or atleast sustain a proper run but barely any moved and most dumped to newer lows. This really told me all I needed to know about current market conditions
The only way memes don't run as hard as I expect them to is if celebs get onboarded again and every single one of them starts launching their own token. If that starts to happen I'm reducing risk quick.
I genuinely believe this next meme run up will be the biggest run up and also might be the last for while. Deposited alot more to bid memes in general and add to my already existant bags that are down. Also rotated half my $TRUMP bag into memes among other things.