Tweens are getting Rich and You're still Poor

edicted (82)in LeoFinance • 27 days ago (edited)

Yesterday's crazy crypto story was a DOOZY!

So apparently this middle-schooler created a meme-coin on pump.fun, which is a platform on Solana for booting up these memes. The meme was called... Gen Z Quant. Nothing special but kind of funny for a toddler to be referencing the most offensive moment in the Big Short movie. Then again the "this is my quant" was a meme that was circulating pretty hard recently, so it makes sense.

In any case

So this kid made his silly meme coin on Solana... and he rug-pulled it for a $30k profit. No surprises there. What was surprising is that he live-streamed himself doing it like the little cherub faced dipshit that he is while gloating and flipping off the audience. I saw some rumors circulating that he "laundered" the money into his own Fortnite account which is pretty much the most Gen Z outcome that could have possibly happened. But the situation continued to escalate from here.

According to the on-chain analytics firm Lookonchain, the kid sold all his QUANT holdings, around 51 million tokens. The Gen Z trader got 128 Solana (SOL), worth $30,000, for the tokens, making a $29,600 profit in minutes.

He then went on to do the same thing by launching another token of the same name, which he later dumped for another $12,000 in profit.

What came next was wild.

In response to this blatant insult the Solana community hijacked Gen Z Quant knowing that it had already been rug-pulled and couldn't be rug-pulled again. They sent the market cap skyrocketing almost x1000 to $80M. The narrative of this pump was revenge against the tween as now the tokens he dumped would have been worth around $4,000,000.

Of course this is absurdist meme-trader logic. "You shouldn't have dumped your coin because look we pumped it because you dumped it, so you shouldn't have dumped it." Of course if he had never rug pulled in the first place it would have never pumped so it's really dumb to think this is somehow a punishment. Gambling addict logic.

DOXXED!

However the punishment didn't stop there.

Traders began doxxing the boy’s family and locating his school, tracking their social media accounts and complaining about the funds they lost thanks to the boy’s rug pull. Soon enough, developers began launching new pump.fun tokens named after the boy’s family members with their profile pictures revealed to accompany them.

How would you like to buy some QUANT DAD/SIS/MOM/CABAL?

Pump.fun tokens with the ticker QUANT DAD, QUANT SIS and QUANT MOM have already been circulating the markets, as well as tokens accompanied by a picture of the boy’s whole family and their pet dog with the ticker CABAL.

Beyond ridiculous

And 2025 hasn't even begun yet.
Very hard to imagine where this can all go as Bitcoin keeps mooning.

Following the rug pull, the kid created another two memecoins, LUCY and SORRY, seemingly poking fun at the crypto community for his QUANT scheme. However, he sold these tokens for 103 SOL, worth $24,000 at the time of the report.

So even after being proven to be a bad actor you can apparently just keep booting up memes and making 5 figures at all these idiots throwing money at everything hoping for a 1000x... pretty... wild! Maybe I'll boot up my own meme there called "Memes are Dumb" so that this trend can go full-circle meta.

Bitcoin edging $100k hard.

I woke up this morning to see that we were hovering at $98k and FOMO levels are still quite low, which is crazy to see. Even crazier to see the alt-coin market complaining of underperformance. "Why Bitcoin up but shitcoin down?" Wen moon?

The above chart is Ethereum since inception. If you didn't actually look at the price action you'd think it was dying and trending to zero based on the social media response to the underperformance vs Bitcoin. Of course this is the USD chart so let's get that ETH/BTC overlay in there:

"If it doesn't outperform Bitcoin then it's not worth doing!"

This is the current sentiment we are seeing across the board. Of course it's completely wrong and makes no sense because if everything was Bitcoin then society would just collapse and we'd all starve to death. Details. Greed is greed. The unsolicited toxic competition between tribes continues.

And notice that the full pattern on ETH is still very much in an uptrend. All these Bitcoiners like to say that everything trends to zero in terms of Bitcoin, but that is simply not the reality of these charts. Even the Hive chart, which has been insanely disappointing, looks like a sine wave that ebbs and flows within the 4 year cycle.

2025 is the year where Bitcoin starts underperforming while all this other stuff gets sent to the moon. When will this happen? No one knows but let's consult the dominance chart:

Said it before and I'll say it again: the ascending wedge in crypto is crazy bearish. Dominance can trade in the wedge for a few more months but when it breaks it will almost certainly break downwards... or do something annoying like a false breakout to the upside followed by immediate crash.

In 2017 alt-season started in January and ended one year later.
In 2021 alt-season started a little earlier and ended a little earlier.

So we are still very much on track for something like that to happen this time around. I would imagine Bitcoin pulling a crazy move like spiking to $250k or some nonsense and when it starts to crab is when alts go full rampage mode. That's usually how it works out, but then again we have very few data points to work from because it's a 4-year cycle and technically there have only been two alt-markets ever.

It's all a very cringe waiting game unless you have Bitcoin and are willing to rotate slowly here, taking a short-term loss for potential massive gains next year. Trading is quite hard but I like to try. Wish me luck.

I'm actually going to day trade $100k... throwing in a 12 hour short with the hope of flash crash victory-selling; a thing I've been predicting would happen for years now.

Conclusion

Looks like Bitcoin is about to be above $100k soonish, and we still have a long road to hoe if we are going to thrive next cycle. Try not to give attention to the noise like teenagers coming in and winning the shitcoin lottery. Keep your head down and keep grinding!

#solana #rug-pull #pump-fun

27 days ago in LeoFinance by edicted (82)

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builderofcastles (71) 27 days ago

Meme-coin logic is very meme-y

In the end, i believe even getting bitcoin off a faucet today will make you very wealthy in the future.
The dollar is just trying that hard to bust the zero floor.
And bitcoin price is a matter of how much of the financial system can get through the door.

Where do the trillions in derivatives go?
They either go into bitcoin / smart contracts, or they go in the dust bin.
Which will it be banksters?

And we haven't even seen adoption yet.