This is all reminding me a lot of the end of the previous NFT cycle.
Initially meme coins were a fun idea and there was only a handful of them so liquidity could funnel into these and pump them hard (doge and shib were the OGs and still nothing has surpassed them including the president coin)
Then came the first wave of marginal increase in new coins - Pepe, bonk, wif etc. liquidity was focused enough that these could still get pumped hard.
Then, pump fun was created, I view this similar to when Blur was launched and it unlocked hyper capital efficiency and removed the friction to creating new coins.
Ever since then we’ve seen a lateral increase in meme coins but no vertical increase (none of these new memes can surpass the market caps of the last basket of runners) since very little new new casino money has entered.
And now today, trump coins has cleared the way for literally anyone to launch a coin and marginal increase in coins is now accelerating significantly and net new casino money can’t keep up to offset it.
This will accelerate now further and the rotations will accelerate further and the pumps smaller until everyone gets destroyed as the number of coins continue to increase laterally.
Have fun, good luck.
if i wasn't on ct, and was just looking at macro conditions and the btc coiling up into late jan, i'd be happy and excited. everything looks great.
ct is literally nonstop worry/doom and gloom 24/7, my DMs literally full of people going "[mybag] coming back??"
get me out of here
It's hard to get too bearish when Trump is buying crypto every day
However.... how much have his team bought in the last week, mid 9 figures? Yet, prices have gone down, which shows weakness in the market
I mean, if someone told you a year ago, Donald Trump bought hundreds of millions of $ worth of crypto in a short timespan, you'd think 'Wow imagine the pump that caused'... but alas, market is weak, not great
Market bit wobbly + the above isn't great... but overall, Trump buying loads of crypto, positive crypto admin in USA for first time ever, can't get too bearish rn imo
After the past few weeks I’m more convinced than ever that 80-90% of you guys should get off CT.
Especially if you’ve been here for a while.
Get off socials for a month.
Think and trade for yourself.
Compare results. You might be surprised at how much you get influenced.