IMO memecoins are destroying crypto.
I still maintain the opinion that memecoins are a net negative to this space.
They are disinteresting from a technical perspective and don't offer anything other than a pure ponzi.
They are predatory in nature and usually create a market dynamic whereby low IQ participants are competing against high IQ participants.
High IQ participants will deploy memecoins with their own chunk of $ in LP pools and use MEV bots to snipe 1% of the supply upon TGE. High IQ traders will accumulate large positions without pushing price up and then collectively shill to their followers after they have a large bag.
Given the right market conditions, this will create a consistent demand which even outpaces the high IQ traders expectations, this is when they will claim they have 'made lots of people money' - it's all BS.
Memecoins are pure PVP disguised as PVE. With the largest accounts on CT just proclaiming they are 'having fun'
Yeah, of course you are having fun. You are selling your absolute dogshit to desperate low IQ plebs desperately looking to turn $100 into 100k. If you can convince 1000 people to do this, you have your 100k exit money - now onto the next memecoin scam.
Also I just know there's going to be a bunch of fuck tards come into this tweet and say things like 'cope' 'stay poor' and 'you're just salty you didn't make any money' - guys, I have been in crypto since 2018, I've made multiple 6 figures in crypto and have assets IRL totalling over 7 figures, so no, that's not it.
I actually just care about crypto and I think memecoins make the space look unserious and reduces our legitimacy. I don't think potential new investors are even remotely excited by memecoins.
People used to invest in crypto because they thought it was a new, exciting technology that they could get into early and get rich as a consequence. These investors aren't going to put their $ into memecoins.
Did we all collectively forget where memecoins originated from? Dogecoin pumped last cycle as a 'fuck you' to crypto bros where normies were buying DOGE on robinhood using their GME profits to outperform all the crypto bros shouting 'have fun staying poor'
Sorry, I don't like them, they are negatively affecting my perception of the market and tbh this is being reflected in my trades.
If you take a look at the market, I think it's pretty clear the market agrees.
I still maintain the opinion that memecoins are a net negative to this space.
They are disinteresting from a technical perspective and don't offer anything other than a pure ponzi.
They are predatory in nature and usually create a market dynamic whereby low IQ participants are competing against high IQ participants.
High IQ participants will deploy memecoins with their own chunk of $ in LP pools and use MEV bots to snipe 1% of the supply upon TGE. High IQ traders will accumulate large positions without pushing price up and then collectively shill to their followers after they have a large bag.
Given the right market conditions, this will create a consistent demand which even outpaces the high IQ traders expectations, this is when they will claim they have 'made lots of people money' - it's all BS.
Memecoins are pure PVP disguised as PVE. With the largest accounts on CT just proclaiming they are 'having fun'
Yeah, of course you are having fun. You are selling your absolute dogshit to desperate low IQ plebs desperately looking to turn $100 into 100k. If you can convince 1000 people to do this, you have your 100k exit money - now onto the next memecoin scam.
Also I just know there's going to be a bunch of fuck tards come into this tweet and say things like 'cope' 'stay poor' and 'you're just salty you didn't make any money' - guys, I have been in crypto since 2018, I've made multiple 6 figures in crypto and have assets IRL totalling over 7 figures, so no, that's not it.
I actually just care about crypto and I think memecoins make the space look unserious and reduces our legitimacy. I don't think potential new investors are even remotely excited by memecoins.
People used to invest in crypto because they thought it was a new, exciting technology that they could get into early and get rich as a consequence. These investors aren't going to put their $ into memecoins.
Did we all collectively forget where memecoins originated from? Dogecoin pumped last cycle as a 'fuck you' to crypto bros where normies were buying DOGE on robinhood using their GME profits to outperform all the crypto bros shouting 'have fun staying poor'
Sorry, I don't like them, they are negatively affecting my perception of the market and tbh this is being reflected in my trades.
If you take a look at the market, I think it's pretty clear the market agrees.
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