😹Memecoin Supercyle! It's 2021 All Over Again.

🗞 Market commentary.

GM cats.

What a Monday it was! Roaring Kitty came back with an onslaught of tweets, Gamestop pumped around 100%, and the GME short sellers lost $1 billion just in the first hour of trading. We’ve got David Portnoy aping millions of dollars into meme stocks, Andrew Tate shouting from the rooftops about fighting the Matrix by liquidating the short sellers, and PEPE breaking ATHs as we speak. Smells like 2021 spirit.

All we need now is to survive this week and for Bitcoin to stay above the critical level of $59,000 Biden dollars. The hurdles we need to overcome are the US PPI release today and the CPI tomorrow. An important point to make here is that after a while, there’s a chance of CPI not coming in hot for a change, which could send markets higher.

📊 Luke’s Chart of the Day

Mog/WETH 1D Uniswap Log Chart

Now that memes with name recognition are catching a bid, MOG looks to be in a good place. It has been consolidating since mid-March, and the Mog army meme game is still as relentless as ever on CT. Cult-level conviction.

We just printed a W bottom (orange circle), and a similar one led to a 3x runup in October ‘23. Whether we break out to new highs here or consolidation runs into the Summer remains to be seen, but I think the local lows are likely to be in.

NFA as per usual, please always do your own research.

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!

🔥 Degen corner.

Mantle is Calling

You might have noticed multiple updates on Mantle rewards season inside the blocmates Buffet. Let’s take a closer look at what’s happening in this rapidly growing L2 ecosystem and how to leverage it to our advantage.

Besides the ongoing mETH holder advantages which actively yield you daily Eigen Layer points, check out this triple yield combo:

This is a two-piece and soda-style reward game that can be easily leveraged to score the long-awaited IntentX airdrop (leading intent-based perp. DEX).

IntentX offers 262 pairs to trade, so we can easily deposit USDe and earn 20x Ethena Sats on each USDe deposited. We can also use this to trade and get 50% fee rebates in the form of MNT tokens.

Since you can find basically all the needed pairs to trade here on IntentX, it’s convenient to swap from a CEX completely and earn INTX airdrop points on top of all of the above.

Lastly, don’t forget to join the Galxe Mantle Ascension campaign!

👀 DeFi insights.

The important bits.

• Victoria VR (MMORPG Virtual Reality) - Early access and adventure quests begin today - read

• Skillful AI (AI) - Community raise round started - read

• Vertex (DEX) - Partners with Botanix and plans to come to Bitcoin - read

• Fenix (DeFi) - pxETH pools are yielding 765% APY - read

• Tari (L1) - Proof of Work mining will start on day 1 - read

• GuildFi (Gaming) - Announces Bybit special event ZENT rewards - read

• Core DAO (BTC DeFi) - Partners with Alchemy Pay - read

📰 DeFi news.

Even more important bits.

• USDT dominance is looking to break down - read 

• Crypto Game World PvP Goes Live on Coinbase’s L2 Base - read

• Metaplanet released a white paper on their Bitcoin corporate treasury strategy - read

• Bahrain-based Crypto Exchange Rain Suffers $15 Million Exploit - read

• Biden Orders China-Linked Crypto Miners to Cease Operations in Wyoming - read

• US CPI on May 15th, expected increase 0.3% - read

• Hayden: “Biden miscalculated, Republicans are turning pro-crypto” - read

• Degen L3 experienced a 500K block reorg (chain still down) - read

• Digital asset investment products saw inflows after 5 five weeks - read

• BTC Mining difficulty fell 6%, biggest decline since December 2022 - read

🫠 ICYMI.

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

Core DAO: How-To Guide

Research

Let’s kick the week off strong with Core DAO and Core Chain where some pretty special opportunities are being thrown up at the minute.

It seems like the market is blind to a budding ecosystem, so it's best to place your chips before the herd.

Read More →

🐥 Tweet of the day.

To save you doom scrolling.

Donald Trump, save me Donald Trump…

🦍 And finally…

Dog days are over! Did Roaring Kitty just put a nail in the coffin of all 2021 dog coins? I would personally not mind at all.

My cat coin picks, you might ask? Brother and sisters, the Doge and Shiba of this bull run is Popcat and Mog Coin, simple as… Just my opinion, not financial advice!

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