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Bull Thesis Incoming: $CHENGU - The Lord Supreme Chad Rises!
Chad + Pengu = CHENGU.
No Abs, No Entry.
CHENGU isn’t just a meme coin, it’s the premiere cult coin of @AbstractChain. For the past two months we’ve weathered tough times, including six weeks of low liquidity on Abstract as the market awaited BTC’s bullish breakout. But the Chadhood never quit, instead we grew stronger and onboarded more chads to our cause. This resilience birthed the Chadset, with Rule 1 (“A Chad stays committed - No Abs, No Entry”) as our creed.
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Here’s is the bull thesis for @ChenguGotAbs to hit Chenguillions:
✳️ 1. Every Chain Needs a Chad
Abstract Chain demanded a leader, and CHENGU answered. Look at Giga Chad’s historic run on Solana for proof of this.
✳️ 2. Unbeatable Branding
Chad + Pengu = Chengu. No Abs, No Entry.
This tagline and namesake dominate Abstract’s meme scene. Our narrative and IP is unique and unbeatable.
With Pengu’s mainstream success pulling bids, CHENGU benefits from shared hype. As Pengu moons, CHENGU rides the wave and gets soft shilled from Pengu’s ripped posts. If you’re bullish on Pengu? You’re bullish on CHENGU!
✳️ 3. OG Meme with Organic Power
CHENGU is Abstract’s original meme, revived by a pure CTO community.
We are simply a group of chads that love CHENGU and want to see him in his rightful place, as a top legacy meme on Abstract Chain There are no hidden cabals controlling supply there is only the Chadhood’s belief in the Chadset, fitness, discipline, and $CHENGU.
✳️ 4. The OG Cult of Abstract
Abstract was cultless until CHENGU unleashed the Chadhood and Chadset. A simple ruleset and creed to turn Chadterns into Giga Chads and make Chenguillions. If you are into memes then you should know cults go hardest, and CHENGU has cemented itself as Abstract’s first and fiercest.
✳️ Why I’m Bullish:
The low liquidity test proved our resolve
The Chadset united us
Pengu’s rise fuels our momentum.
LFG Chenguillions Incoming!
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Degen Trench musings
Trenching is fun but in moderation. Over trenching basically just leads to addictive gambling tendencies and your attention spread thing across too many coins.
Yes, you may make a little bit of gains here and there but on a long enough time horizon you will lose most of it back to the casino. That’s how it works.
Quit while your ahead and be sure to limit your exposure to trenching if you want to make it in the long term.
Trenching is also very narrative and liquidity driven. In times where liquidity in the market is thin it’s much better to sit on your spot bags and high conviction plays.
This is also a reason why I didn’t bridge over to @monad and am staying firmly on @AbstractChain. The liquidity boost on a new chain is generally short lived. The overall crypto market looks like it will be making a slow reversal which may mean several months of sideways before we actually make another move for this bull run. In addition to this the learning curve of a new chain is quite time consuming so the payoff is not there if the narrative and liquidity conditions are not great.
Hope this helps yall level up your crypto and trench games chads!
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For those who are worried about the $BTC price action here is the outlook on the macro level and the potential bottoming area forming.
On the weekly chart we can see the bottom area marked in yellow. This area should hold if you are macro bullish and are looking for another leg up.
Watching the yellow zone intently. Still thing we have more upside. This is where long term longs are built.
New @AbstractChain flash badge avaliable! ✳️
The ARTMS will be awarded when you mint the limited edition ARTMS photocard.
Always be on that Abstract Grind!
@chetan_kaul Im calling this as a range so it’s not that 89 needs to hold but more that it is a bottoming area. With regards to probability, I won’t put a percentage on it. All I can say is I’m long.
Most will look back at this in a couple weeks and say damn I wish I bought or longed the bottom on $BTC.
Here is my official call that we are just about bottomed. We may dip a little further but we are about that zone where price will look to reverse.
For full transparency my last call at 105k didn't age well but based on my analysis I still don't think we are in a bear market or have topped as many on CT are calling. Indeed we have dipped much deeper than many of us thought we would. However, the high timeframes still retain their bullish structure and top signals have not fired off.
See you at higher prices!