Some thoughts for onchain

$MARSCOIN (170 mil) - just had its binance spot listing. First spot listing since binance life which got sent to 800 mil. Immediate reaction is it’s currently underpriced, although there is a lot of uPNL that will probably need to get shifted through and I don’t expect them to immediately crime it. I am very interested in scalping it as a lev long play in the coming days and will be looking for entry. Interesting to see utility paired with gme performing even better than marscoin based off the CZ tweet, not sure how real the volume is on it but if it’s remotely real it’s pretty insane. Don’t have much thoughts on that token.

$MEME (60 mil) - today’s 9 fig juicer. The lore is that the coin was made as a memecoin paired against AMC which is considered a meme/boomer company. The CEO came out and was very vocal that he doesn’t like the idea and think it should be illegal as tokenized stocks are “synthetic assets”. Vlad then responded whats the concern and recently tweet they stand behind stock tokens. If the token can make AMC rally despite pissing off the CEO, it’ll make for a very viral case and will bring a lot of new eyes and fuel this penny stock/dead company flywheel narrative even further. Overall this token performing and growing mindshare is +ev for those of us playing the RH trenches and I hope it goes higher with normie virality. Expecting a bounce at 50-60 mil otherwise doesn’t look good.

$BONER (40 mil) - the fartcoin of robinhood. I do really like this coin and think the narrative is great. However my concern is that its 1) a bit too much of a resemblance to fartcoin even though it does have some pretty unique variables and 2) it’s a little bit vulgar compared to the other main runners we’ve seen. Something that’s important to consider with memetics is how included can every be? Can you show a kid and they’ll smile? Can you show your gf and she thinks it’s funny? Simple variables which I think are quite important when determining big runners. Ansem is obviously different and the outlier due to influence. Memetic wise it’s my favourite meme but for the points I mentioned above it’s difficult to see if it continues growing (no pun intended). Endorsement from HIMs CEO would go a long way (no pun intended again).

$FONE (10 mil) - the WIF of social trading apps. Similar to Boner where I really like the narrative, except it resembles WIF a bit too much to give myself high conviction. Boner feels more unique narrative wise when comparing to its alpha assets. Fone represents the mascot for social trading this cycle, lots of emphasis is placed on fomo/pump criming the token since it’s a perfect representation, never great to bank your thesis on that. When Sol gets its moment after RH has its first flush out, I would expect this to be one of the first tokens that bounce. I’m interested to play it depending on the strength and rotations I see.

When hunting the next 9 fig cultural juicer, novelty is almost just as important as memetics. Having something to compare it to will always reduce the roof and potential mindshare. Issue is we’ve speed ran nearly every idea and token. The memefication of tokenized stocks and finding creative ways to leverage them will continue to dominate for some time like I’ve been mentioning.

If MEME can’t hold up over the weekend then I would expect some type of pull back. Not trying to be bearish but we’ve had pristine conditions and what all of us could have only dreamed of the past year. If multiple runners with high 8/low 9 figs in volume fall, then that’s your bat signal to dial down the risk. Bull signs are if BTC can break 82k and/or Meme sending, then it’s game on over the weekend.

I’m still very much interested in novel utility/meme plays and believe we broke an extremely important threshold this past week. Regardless of what BTC does, onchain hasn’t felt this back since AI szn while being near the bottom of the cycle.