👀 The Greatest Market Stimulus Since Covid is HERE

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GM, our patience and resolve pay dividends once again. 

Based on the historical statistics for October, which we reviewed last week, we`re now reaching the zone where the actual Uptober could be starting. And if we look around, being overly bearish the previous week was definitely not the right choice.

There is some volatility to be expected this week, though, as we have few key macro events to chop through, specifically the US CPI inflation data and jobless claims data on Thursday, and PPI inflation data on Friday.

On the other side of the globe, we`re watching the GCR thesis that China is a major bullish element for this cycle play out in real time: China just unveiled the most aggressive stimulus measures since the pandemic. 

At the same time, Goldman Sachs says that if the Chinese don`t pump the markets, everything will absolutely nuke. So there you have it.

On the crypto front, an interesting proposal is making waves right now for Ethereum. Ben Adams proposes to “Make Ethereum Execution Great Again” by reducing slot times and increasing transaction throughput. 

Do you think Ethereum makes it to be great again, or is it time for Solana to take over? Let us know!

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Mog/WETH Uniswap 3D Log Chart

Mog looks ready to move again.

I like this 3D chart with the RSI just above 50 and the Awesome Oscillator flipping bull - note the last two occasions it flipped (green circles). The RSI downtrend looks primed to break up after six months of lower highs, and the yearly VWAP (blue line) just had a successful retest.

There is less volume profile resistance the higher we go (not shown; use the Fixed Range Volume Profile indicator to see this). We likely get some consolidation around all time highs, and then the top of the log channel is calling.

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 for the day:

Memecoin Supercycle (Real)

For months now, we’ve seen countless big crypto accounts, influencers, and seasoned investors calling for the memecoin top.

Now, here we are, right after Bitcoin confirmed a structure change back into a bullish posture. Which assets are the primary beneficiaries? Memecoins.

Sure, everything finds its top eventually, but right now, memecoins are proving themselves as the market’s favorite ultra-reflexive, high-volatility assets—up or down.

Looking at the meme index graph from Agent Chud below, it’s hard to deny that we’re primed for another memecoin leg up, especially if the TOTAL3 chart (all altcoins excluding BTC and ETH) starts breaking up as well (which it looks like it`s planning to.)

Here are a few rules and tips for new entrants into the memecoin market (and remember, none of this is financial advice):

• Be extra cautious with new launches—99% of them will rug or crash to zero.

• Search the ticker on X, observe the community’s behavior, look for originality and organic activity, and monitor their social channels closely.

• Is the community vibrant and enthusiastic? Do you find yourself wanting to post memes too? Are the memes addictive? Those are all promising signs.

• Avoid derivatives - original memes are always the safer bet.

• Keep an eye on once-successful memes that are now bottomed out and consolidating: if the community is still active and growing organically, and the holder ratio is increasing steadily, that’s a solid signal.

For example, last week, Luke mentioned AURA in the chart of the day section. 

Again, I’m not saying you should dive in right now, but use this as an example—cross-check all the points above, apply them to AURA, and see if you can replicate this process with other viral memes still hanging around the bottom.

Good luck, and stay safe out there.

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The important bits.

• Peapods Finance (DeFi) - Liquidity as a Service (LaaS) by Peapods is coming 

• Core DAO (Bitcoin DeFi) - Core is now the number 1 Bitcoin sidechain with $350M+ TVL

• EOS Network (L1) - Explains why the recent EOS hard fork is a monumental step

• Sophon (Entertainment layer) - Binance labs invested in Sophon

• Soneium (L2) - Minato testnet upgrade going live tomorrow

• Retardio (Meme) - Announces Retardio Casino

• Ionet (DePIN) - Upcoming IO listing on Coinbase

• Hyperliquid (L1) - Hyperliquid Nodes are now live on RapidNode

Even more important bits.

• The International Monetary Fund (IMF) is now pressuring El Salvador to limit its Bitcoin use

• EU wants to create an integrated European capital market for digital assets

• Magic Eden partners with Ubisoft to release Captain Warhawk Universe

• Japanese public company Metaplanet buys another ¥1 billion worth of BTC

• UAE eliminates taxes on all crypto transactions

• Goldman: Unless China does QE now, the current market rally will crash

• BlackRock is shilling BTC and ETH to TradFi

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

Here's Why Google is Opening Its Doors to Bittensor and AI | TAO Talk Ep. 6

Podcast

This week's episode sees 563 and Brody joined by Ken Miyachi, co-founder of BitMind, the world's first decentralized AI deep fake detection system, building on Bittensor.

We discuss the recent Google-hosted Bittensor and Dippy conference and its impact on the tech giant’s potential move toward AI and crypto, the intricacies of protein folding, and how BitMind is building a product to solve the ongoing issue of AI deep fakes online.

Tune in on YouTube →

Lots of questions about what Monad is last week. If you’re one of those “genuinely” curious

The chads blocmates have whipped up a bite-sized “What is Monad” primer. Feel free to digest and also share with friends.

Read More →

To save you doom scrolling.

I dunno about you, but the only thing I`m missing is buying a few figurines bros…

There will be dips, even dumps. But once again, I don`t think it`s wise to get easily swayed into a bearish mindset.

Cautiously very bullish.

stay safe homies,

Hix0n 🫡