🚀 Mentally Ill Memecoins Are Flying!

🗞 Market commentary.

GM to everyone who stands with Hugo.

Memecoins are flying, particularly those from the mentally impaired category, as the whole of Crypto Twitter rallies in support of Hugo following his unfortunate ‘Retardio’ incident.  

Nevertheless, memes and altcoins are starting to shine all around, primarily because the All-father Bitcoin is currently taking a well-deserved breather after nearly a year-and-a-half-long bull run. While a retest of the production cost of around $60K is possible, this period of consolidation is nothing but bullish.

Yesterday, we even saw some action on the Ethereum spot ETF side, where the SEC requested comments on BlackRock’s amended proposal. Are the chances of approval for May 23rd rising? I certainly like the sound of that.

Good altcoin market developments seem to have no stopping: Coinbase launched PEPE perpetual futures fueling the memecoin fire, Layer Zero announced its TGE set to occur before the end of this year’s first half, and BlackRock’s advisors are joining SocialFi protocols. Even the New York Stock Exchange plans to go degen and enable 24/7 trading to keep up with us.

It really is a new era.

Retardio.

📊 Luke’s Chart of the Day

Retardio 1D Log Chart Raydium

Lots of memes are looking good, not least of which is Retardio. Yesterday's Polymarket incident has got to help, too. The daily chart shows a beautiful consolidation and a bottoming structure. Retardio is up a lot today, although there has been no ATH breakout as yet. 

The fib extensions bull target of 4.618 tops out at $29c, about 7x from here. The market cap is at $40M, so there is plenty of room to catch up to related memes like Mog. 

The NFTs are doing well, too, with a floor price of around 11 SOL at the moment. I feel like this is a full-cycle culture coin you don’t want to fade. 

Retardio.

As always, NFA, and please 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.

The Future King of the Gaming Narrative

We’ve been covering GuildFi in past issues as the OGs of the crypto gaming space, but now it’s high time to get active.

Just yesterday, GuildFi announced the big rebrand: “The original GuildFi token ($GF) will be converted to the new Zentry token ($ZENT) in a 1-for-10 split”.

The gaming narrative is on the horizon, and I have no doubts that the best bets will be on those providing the best infrastructure for gaming, not just individual games. Zentry is precisely what I was looking for: not an individual game but an infrastructure offering a true multiverse experience connecting millions of players across thousands of games in a unified virtual economy:

“What if your victories in those online battles, nailing 100 headshots in your favorite FPS, or even crushing your fitness goals could earn you rare items and crafting materials for Zentry, which could then be exchanged for tokens or even offer real-world rewards?”

I’m literally gearing up to level up my gaming skills just for this.

Lastly, there’s a Zentry premint going on right now, and I certainly won’t be missing out on this. Keep a close watch.

👀 DeFi insights.

The important bits.

• Movement (Move VM) - Teasing a release in 45 hours - read

• Fractional Uprising (Gaming) - 20% revenue for NFT holders - read

• Gala (Gaming) - Joins forces with Phantom Arena - read

• Mantle (L2) - Brings omnichain Bitcoin to Mantle with FBTC - read

• DeFi Saver (DeFi) - Partners with Safe - read

• Smilee Finance (DeFi) - Earn depositors reached 209% APY - read

• Infrared (Berachain LST) - Partners with Kodiak, GummiFi, Beraborrow - read

• Metis (L2) - Launches phase 2 of decentralized sequencer upgrade - read

📰 DeFi news.

Even more important bits.

• PayPal promotes low-carbon Bitcoin mining - read

• Philippines SEC orders Apple & Google to ban Binance app - read

• Venezuela plans to speed up USDT adoption - read

• Bug on Unisat wallets leads to $14K loss - read

• NY Stock Exchange to test 24/7 trading - read

• BlackRock now holds 273,596 BTC ($18bn) - read

🫠 ICYMI.

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

Exploring Bitcoin Layer-2s: Grift or New Paradigm?

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Bitcoin is like... an onion. There are layers two it.

We've put together a report on the budding L2 narrative on BTC, which is currently on everyone's lips.

Read More →

Trader Joe Head of Growth Spills Marketing Tricks & Alpha On Crypto Points Programs

Podcast

The latest episode of Still Early with @blueclarityone of Trader Joe is out now!

We're talking Mantle, alpha, farming opportunities, tricks of the crypto marketing trade and future project announcements for Trader Joe.

Tune in on Spotify | YouTube →

🐥 Tweet of the day.

To save you doom scrolling.

Today, we simply must highlight Smolting’s summary of the ‘Retardio’ incident.

🦍 And finally…

Big things are cooking all around, even though, for some, the market seems slow. I cannot advise enough to look for strong, bottomed-out charts, for example, on Base. Parking in strong, active names that presented bottoming patterns on Solana proved very lucrative lately!

Of course, I’m just joking around, and you should totally not take it as financial advice because it’s not!

Good luck in the trenches.