2x Your Money in a Weekend? Sure, Why Not…
TL;DR
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SHIB and WIF moved 60%, whereas PEPE rattling close to doubled in value — a lot of the ‘mania’ we’re experiencing proper now feels very ‘late stage’ bull run.
Full Story
We’ve got this app on our telephone that sends push notifications for every days’ ‘greatest movers’ in crypto.
And all weekend it was simply meme coin after meme coin.
Shiba Inu (SHIB) moved 60%.
Dogwifhat (WIF) moved the identical.
Pepe (PEPE) — oh man — PEPE rattling close to doubled in value.
And all alongside the way in which, people had been shorting these tokens (aka betting they’d go down), solely to get wrecked and pay again a cumulative $50M to those initiatives.
(Which solely pushed the worth increased).
Our takeaway:
This bull run is bizarre. A lot of the ‘mania’ that we’re experiencing proper now feels…not misplaced precisely, however…early.
Meme coin run ups are extra of a ‘late stage’ bull run phenomenon.
So long as we’re not seeing a left-translated cycle, we’re joyful.
