Memecoins Overtake Memestocks...What Does It Mean?

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Good morning…

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Onward…

I love this headline from Stocktwits team in our daily (free) email last night (we have a free crypto amazing newsletter as well):

There is so much interesting stuff happening in the markets right now, especially crypto, altcoins and now as mentioned above, memecoins (bookmark this link).

This morning, Bitcoin is above $72,000 so of course analysts are now predicting $150,000 per coin.

As the old Investing saying goes…’Nothing Like Price To Change Sentiment’

Last week on Trends With Friends we went deep on Bitcoin and crypto and Michael Saylor/ and the $70,000 number for Bitcoin technically.

This week, I noticed something very different on Stocktwits…

Memecoins have been trending during the weekday and regular market hours.

Yes, this is probably signaling a top in this are of the markets, but that is the ‘obvious’ sentiment towards this whole craze.

I personally believe this is just the beginning of some new wave of crypto brought on by ZIRP, bad policy, software/tech/cloud, centralized companies having too much power, home prices being out of control for a younger generation etc etc…

In 2017, during the height of the Bitcoin craze and its rise to $19,000, the amount of $BTC.X messages surpassed those of $SPY (S&P) on the Stocktwits streams. It blew my mind. What foloowed was a crypto bear market, but NOT the death of crypto. The signal was Bitcoin crossed over and into the consciousness and in the minds of traders and investors at a level that was past killing.

I believe we just crossed over in the same way for blockchains and products that go beyond Bitcoin.

Does that mean I will trade memecoins?

No.

But I will definitely try new telegram bots and apps to learn though.

Of course we have a degenerate economy and speculation as entertainment running rampant. The world we have created for these next generations filled with smartphones, the cloud, AI, bad leadership, anger, anxiety and a wealth shadow from the billionaires of the centralized world is an unstoppable driving force for now.

How this trend ends…I have no idea.

PS