February Market View

Casinos in Vegas are open 24 hours a day, so is the onchain casino.

People are claiming that memecoins are dead after being down -85%, which is just a signal of sentiment doing its job and what normally happens at local bottoms. While value investments become more highlighted during times of uncertainty, it is still very hasty to call for memes death.

Also, it is a fool’s game to believe that any value investment will be immune to a bear market in the future, I’m not going to mention any token here. What tends to happen with these tokens is that they generate “revenue” which causes a concentrated bid because people think it is protected (until it isn’t, see GMX). Best way to alleviate this is with strong token buybacks. If there are no willing buyers for your token, then you better buy it yourself, and we will likely see more cases of this from the actual survivors further down the line.

Memecoins are not going anywhere, it is the same as saying that gambling and degeneracy will disappear. As long as people can gamble on the latest news event or celebrity, they will capitalize until their last dollar is gone. Casinos in Vegas are open 24 hours a day, so is the onchain casino.

However, it is also a time where stronger teams (and memes) will separate themselves from the rest. People glorify the trenches when “the trenches” normally signify a place where most people die in, don’t get it twisted. It is something you want to graduate from in the end. There are far more winners than losers down there.

However, if you have a thesis for a token that you have been eyeing for a long time with a strong team and the chart has stopped bleeding after being down significantly the past month or so, it likely isn’t a bad time to scale in.

What’s the cue?