When you see the new TON logo do you think it is a dog with a cloak on?
The way that I understand it, Ton took the Resistance Dog Logo (which is a dog with a cloak on) as their logo which made me more bullish on REDO. I just looked it up and it indeed looks to be the case and one of the reasons for the recent pump.
I can see a time where the entire memecoin space just collapses just like all the Defi Farming in the past. remember when Yam first was released which is one that started the entire bubble. Fundamentally it's almost exactly the same as nothing really is behind it aside from some greed and dreams. The key (and probably the hardest part) will be to get out in time not too soon and not too late. It also is a requirement for the general public to get back in crypto for everything to go wild. In the end, the majority will get burned by the Memecoins and only few will end up major winners. It sure is very interesting to see how it all will play out.
That is interesting with the logo change for TON.
Each cycle there seems to be the replication and over proliferation of coins or tokens. In the 2013 cycle there were all these Litecoin clones being puked 🤮 out. DOGE being one of the only real survivors.
2017 / 2018 were all the ICO tokens.
2021 were all the farming tokens and NFTs.
This time it is like it went back to mainly memes and a lot of stuff was primarily flat. That is what makes me think we really might collapse in the next couple months before we get really rolling again for a blow off top in 2025.
We just haven't had a uniquely new narrative this time around. A new mousetrap that looks different.
The proliferation of memes and then legit projects just being flat and dead in the water is concerning. I mean even look at ATOM. The price action has been completely dead.
What worries me is people aren't going to have the money to allocate to it because there teeth have been kicked in by inflation.
It's like a lot of people feel like we are going to go have the cycle end this year vs next year and I'm not so sure.
Mining is really unprofitable right now so maybe a bunch of those mining companies will get crushed and we have a second miner capitulation before we can really go higher.