💀 Ethereum is Dead, Long Live Solana

PLUS how to really find good memecoins?

October 28, 2024

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As days and weeks go by, it’s becoming painfully obvious (at least for .eth type profiles) that Solana is truly the L1 success story of this cycle. Not only is Solana’s real onchain economic activity smashing all-time highs as we speak, SOL/ETH is breaking out into new price discovery, and even Raydium just smashed Uniswap in total volume.

Sure, Ethereum will have its day, but the frontrunners are clear as daylight. Next in line is most likely going to be Hyperliquid, currently the 11th largest chain by TVL, just now pushing to flip Sui and then perhaps even Avalanche (check the new ecosystem picks here). 

What do these two chains have in common except effective tech and usability? Cultish following: which is perhaps the most important indicator of this bull run (or was it always?). 

When it comes to Solana, the latest activity is largely driven by the new AI coin wave, ignited by Truth Terminal. Don`t forget to check our epic interview with the creator Andy Ayrey, below. 

And finally, looking at Bitcoin and the market at large, every signal is screaming "bullish November." Sure, things turn on a dime in crypto, but right now, there’s no good reason to be bearish; it`s more of a question of how high this next leg up brings us. 

That`s precisely what we`ll try to dissect over the following days and weeks, so stay tuned.

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OX/WETH 3D Uniswap

Ox.fun is the Su Zhu coin that is fully circulating (don’t buy the other one). I think this platform potentially gets much bigger as the cycle turns. Using big cap memes as collateral to trade other big cap memes - this kind of makes sense to me, from a degenerate logic perspective, and that’s probably a good way to think, from here until the cycle ends.

The chart has a very appealing rounding bottom and any pullback here is one I want to buy. The Point of Control (red line) is the target - maybe around early December. It’s also very possible this goes much higher in the longer term.

Come by the Lucky Luke Discord channel for comments, to roast my picks or to pump your own bags. All banter is welcome any time!

Smart-money movements of the day:

Source: Chainedge

Memecoin Trading

So, you’re out there, scanning thousands of memecoins a day, aping into pump-and-dump launches, praying to catch the next WIF. Did you know the odds of a fresh memecoin hitting a market cap over a hundred million are about 0.001% (might be slightly off but something like that)?

We`re currently deep in the bull market (don`t let them tell you otherwise), which means our best chance is either betting on the established winners, or being able to recognize previous winners which are yet to pump.

I obviously cannot shill you memecoin picks here, but we can do a few examples, let`s say KEKEC and AURA.

Quality meme factors on these:

  • Originality: first mover, not a derivative

  • Survived its own death: volume and buyers show up even after a -90% retrace

  • Quality design: Still pumping out good content and solid design, even when the chart looks like a disaster.

  • Excited community: They’re not just talking price—they’re relentlessly churning out memes on the timeline, even after a price retrace.

  • Good distribution: Check the chain for holder distribution. If it looks like a cabal, it is a cabal.

  • Zoom out: Is the chart down? If so, are there price and volume spikes during consolidation? If yes, it’s not dead—it’s lurking, ready to run.

  • Think with your gut: Do you find the meme funny, addictive, or just plain cool? If so, chances are others will too.

If you spend enough time on Twitter, you’ll stumble across plenty of potential picks still with a lot of price discovery ahead. Don’t ape in blindly—think about your buys, and apply the factors above to sharpen your thesis.

And most importantly, be patient.

The important bits.

  • Tapioca (DeFi) - Official hack post-mortem released

  • Hypurr Fun (Hyperliquid) - New reward program launched

  • Kinetiq (Hyperliquid LST) - Unveils kHYPE

Even more important bits.

Charts and stats of the day.

Life gets busy so here’s what you’ve missed.

Truth Terminal Creator Andy Ayrey on $GOAT AI Agents & Meme Coins

Podcast

Our interview with Andy Ayrey, the man behind Truth_terminal is now live!

Tune in on Spotify | YouTube â†’

Everything We Know About AI Running Hedge Fund DAOs

It could be time to write your applications for McDonalds because the next phase of the AI x meme sector is already here: hedge fund DAOs.

If you need to catch up on what's happening with Daos.fun, ai16z, and degenai over your coco pops this morning, here's everything we know.

  • Block Chain (Meme focused Berachain L2 by HPOS10I)

  • Infera (Decentralized peer-to-peer AI inference network)

  • PVP (Onchain battle for tokens)

  • Exponents (Berachain DeFi)

To save you doom scrolling.

On a more serious note today, epic speech on money and power by Ron Paul, 1983.


My friends, there`s something in the air.

We’re living through the wildest election of our lifetime, Bitcoin becoming one of the most important assets in humankind's history, thousands of people catching a daily memecoin addiction, AI practically begging us not to pull the plug, Optimus robots about to clean up our McDonald’s leftovers, and people live-betting on blockchain prediction markets while watching their favorite streamers...

Whether that sounds like dystopia or not, the reality is clear—a whole new era of economy is being born right now. Don’t let any macrodoomer tell you different.

We`re going one way, and that`s up and to the right.

stay safe homies,

Hix0n đŸ«Ą

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