apecoin ($APE) hit 100% circulating supply, turned deflationary via apechain and otherside burn mechanics, and a hyperliquid wallet turned $174k into $2.45m on a single 5x long in under 24 hours. $71m in liquidations on april 24 alone. this token fell 99.7% from its peak to $0.08 and everyone deleted it from their watchlists. yuga labs hired a professional CEO, opened a miami clubhouse, launched a merchandise marketplace generating transaction fees, and a whale minted 450 bored apes in one session. the tokenomics completely flipped from perpetual unlock dilution to active supply destruction and nobody updated their models. a token with zero future emissions and burn mechanics trading at $177m market cap backing the largest NFT IP franchise in crypto. the last time APE had this kind of volume it was trading at $7
When you start your own memecoin, it launches at $120mn, and you get half the supply....
but then lock that supply til your 100th birthday in 20 years.
The main new development is that market participants are now moth-like. They actively rush into these scams, mostly knowing that they are scams, because the goal is to flip the scam for a 3x to somebody else.
There is no skepticism left for these buyers, they just want to hit a runner and leave crypto.
Their goal is to get rich in 2 weeks instead of in 2-4 years and this makes them very easy marks.
There were 100 ways to tell that Libra was not legit and yet people bid it in a straight line to $4bn, and non-agency managed KOLs bullposted it at the top in support of their own buy.
Everybody obviously knows that it is worth nothing, but they have seen something worth nothing go up a lot, and they want to hit one of those too.
It has become a game of chicken for obvious scams wherever attention is directed in a half-convincing way. So shaming won’t work because the buyers are begging for the opportunities, despite knowing they’re scams, because they think they might be able to win then next one.
Yap early, yap only, yap often.
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