That is interesting with the logo change for TON.
Each cycle there seems to be the replication and over proliferation of coins or tokens. In the 2013 cycle there were all these Litecoin clones being puked 🤮 out. DOGE being one of the only real survivors.
2017 / 2018 were all the ICO tokens.
2021 were all the farming tokens and NFTs.
This time it is like it went back to mainly memes and a lot of stuff was primarily flat. That is what makes me think we really might collapse in the next couple months before we get really rolling again for a blow off top in 2025.
We just haven't had a uniquely new narrative this time around. A new mousetrap that looks different.
The proliferation of memes and then legit projects just being flat and dead in the water is concerning. I mean even look at ATOM. The price action has been completely dead.
What worries me is people aren't going to have the money to allocate to it because there teeth have been kicked in by inflation.
It's like a lot of people feel like we are going to go have the cycle end this year vs next year and I'm not so sure.
Mining is really unprofitable right now so maybe a bunch of those mining companies will get crushed and we have a second miner capitulation before we can really go higher.