TL;DR
Full Story
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Stanley Cups
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The fries at In n’ Out
These are all things that we’d file under “we don’t get the hype, but a lot of people seem to be into them.”
(Ready for us to shoehorn this into today’s first story? Here it comes…)
It seems institutional are making a similar filing with the memecoin space.
(BOOM! Nailed the landing).
12 months ago, most people would have scoffed if you had have told them that institutional investors would soon be piling into memecoins — but here we are.
In fact, Institutional allocations to memecoins have increased over 300% this year, reaching almost $300M on the ByBit exchange in April (up from $63M in Jan).
What’s the takeaway?
This isn’t a sure thing — but this might indicate we’re in an accelerated cycle.
Typically, bull runs last for ~12-18 months after the Bitcoin halving (which took place in April) — with new all-time-highs first being reached ~6 months after the halving.
At which point, retail investors start to go further out on the risk curve (into things like memecoins, NFTs, and smaller projects) in an attempt to catch new wins. After that, institutional investors tend to follow, pushing the market to its high — all before everything starts to retract.
This time around, the market reached new all-time-highs, while both retail and institutions both piled in to memecoins before the halving had taken place.
(Which is a first for both).
These accelerated patterns play into the theory we’re going to see an accelerated blow-off top (and peak) for prices before the year is out.
The downside is: this would mean we see a prolonged bear market following such an event.
…guess we’ll just have to hurry up and wait.
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More posts like this would persuade the online time more useful.
I’ll certainly carry back to read more.
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