Crypto,  Market Thoughts

Things Feel a Little Sloppy Toppy

I remember a few months ago when this Solana meme coin season started. 

You could buy any coin with decent meme-ability, and if you caught it under $500k you could almost guarantee yourself at least a 4X.

It seemed like everything was pumping, and there was plenty of hype to go around to push these coins to new highs.

That… has changed.

Coins that seem like great memes, with good charts, just getting absolutely hitler’d if they even dare to push beyond $500k market cap.

I wrote about this in a few previous posts, but I had a realization about something else just yesterday.

The autistic meme coins favored by CT are all bleeding to death, while more normie coins are taking center stage.

As I write this, the three big coins I’m seeing pump and be talked about on twitter are, $GME ( Gamestop coin on Solana), $AMC (Another stock meme coin on Solana), and $HODL (because of the recent movie).

These coins are going absolutely nuts, while the darling coins of crypto twitter have entered Dante’s Inferno.

The fact that these coins are going vertical, and in doing so, sucking every bit of liquidity out of the market… makes me think we’re reaching at least a short-term top on Solana eco coins.

It’s a bit of a gut feeling, I’ll admit. 

However, when you pair this with the fact that the Phantom wallet app has been climbing the top downloads charts in the Apple app store, and the plethora of other top signals, it does make sense that we’d see things die for a while.

We had, 

  • Ansem showing off in the club
  • People calling for the complete death of Eth and the rise of Sol
  • The ETF “sell the news” event
  • The Jupiter airdrop catalyst finish
  • Tons of people showing screenshots of their wallets, showing off their gains

That’s just what I could come up with off the top of my head. 

Don’t take this as financial advice, I’m just a dumbass who likes trading and posting about crypto on Twitter (I still refuse to call it “X”) and am by no means a licensed professional.

I made a lot of really good gains in this Solana eco cycle, gave some back, but have mostly stabled up and continued to hold the Solana bag.

I don’t plan to sell my Solana, because with the halving on the horizon, I think crypto gets another big pump this year.

I just think it’s time to cool it with throwing money into every new shitcoin, because that market just isn’t as user friendly as it was a month ago.

It would be very easy for someone to grind down their account and lose all the gains they worked so hard for these last months, chasing shitty meme coins that pump less and less with every new token launch.

Anyway, those are my thoughts. 

I plan to be very selective with my trades, and likely just DCA bitcoin for the cold storage wallet with wagie bucks.

If you are trying to trade this environment, I wish you luck

Until next time,

Fractal

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