On speculative bubbles and why AI and Memes are the only narrative that matters in this bull cycle
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Let's first take a look at the state of altcoins.
Despite VC fundraising barely reaching 2021 levels, a flurry of new projects have popped up seemingly engineered with the same predatory tokenomics and similar narratives.
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These have 3 serious implications on this upcoming altcoin market:
1. Attention and capital is fragmented across multiple projects
2. High FDV and predatory tokenomics suggest higher drawdowns during major unlocks
3. Community owned projects will increase in popularity