Illustration by Mitchell Preffer for Decrypt
After a string of successive excessive octane weeks for the crypto business, this week introduced a much-needed dose of surreal absurdity and bullish optimism—specifically, within the type of a number of high-flying memecoins.
First, within the rapid (we’re speaking quarter-hour chilly) wake of the loss of life of famed Bitcoin hater and Berkshire Hathaway vice chairman Charlie Munger on Tuesday, a memecoin named after him spiked an astonishing 31,000%—earlier than, in fact, crashing to zero. Earlier than the autumn, degens pumped north of $4 million into the token.
Only a day later, controversial American diplomat Henry Kissinger handed away at 100—triggering, you guessed it, a number of eight Kissinger-themed cash throughout three blockchains (Choicest of all of them? Little question, Kissinger69ObamaBidenInu420). Collectively, the Kissinger cash noticed over $250,000 price of buying and selling quantity.
To not be outdone, Elon Musk delivered a distinctively off-the-wall (even for him) public look at a New York Occasions occasion on Thursday, which crescendoed with the world’s richest man repeatedly and expliciting telling Twitter advertisers—who just lately deserted the platform after Musk made an antisemitic publish—to “go fuck your self.”
Inside hours, the outburst generated a slew of “Go Fuck Your self” memecoins, together with one with a $7.28 million market capitalization—no laughing matter.
May the inflow of such extremely capitalized ridiculousness this week bode nicely for hopes of an imminent crypto bull market?
Effectively, in grownup information, indicators more and more level to the Securities and Change Fee (SEC) coming, lastly, to a call on an intensely hyped spot Bitcoin ETF in early January.
With optimism concerning the monetary product—which analysts estimate might infuse the crypto market with over $1 trillion from conventional monetary establishments and traders—at an all-time excessive, desires of a bullish future on the horizon have overtaken the prevailing temper on Crypto Twitter.
Edited by Ryan Ozawa.
