We aren’t going to see surges in memecoins and altcoins like we did in past cycles for two reasons – dumb money is dried up, and retail isn’t interested.

I was looking at shitcoins today and realized that they aren't pumping like they used to. I wondered "where is all of the dumb money this time around?" and right then I think I found my answer. They've been liquidated. There's just not that much dumb money left. The memecoin market is more oversaturated than it's ever been, and the potential to get returns is lower than it's ever been.

The illusion has been shattered.

In 2017, back during the peak of SafeMoon, there was excitement. People thought they had a genuine chance to make a million dollars by investing $100. They regularly saw stories about people who made this kind of money, and they thought it could be them. There was community driven hype surrounding these projects that you could get involved in to join into a cycle that validated what you all hoped to happen.

But then these people lost money again, and again, and again. They saw people around them losing money. They watched countless projects get rugpulled. They watched industry titans fall, go to prison, and exchanges collapse. They watched USDC depeg in what looked like it could be D-day for all of crypto.

Retail saw this happen too. They watched Matt Damon shill them tokens during the superbowl, they bought in, and they got rugged. Why the hell would these people get interested in crypto again? The excitement came, they got taken advantage of and duped, and they aren't coming back. If we wonder why retail isn't interested anymore, it's fucking obvious why. And then our president, days after being elected, drops his own shitcoin and rugs that, too. Then his wife does the same. It's an absolute fucking joke that makes a mockery out of the entire space.

Retail isn't interested, and the dumb money that remains interested is out of money. Institutions are only interested in bitcoin. Who's left to buy anything else?