Memecoins, Dogwifhat, SLERF, Bitcoin, Ordinals, Airdrop farming, and the usual gems

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👀 WHAT’S THE META.. 👀

GM, GA, or GN wherever you may be.

Want to stay ahead of the curve? Don't worry we got you. The market has been brewing, here's what's currently happening:

Dogwifhat meme sells for $4M.

Memecoin $SLERF hits $1.7B despite setbacks.

Wagering on PolyMarket continues to rise as presidential elections close in.

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🪙 CRYPTO DIGEST 🪙

Bitcoin recently reached an astonishing new all-time high of $73,800, yet concluded the week beneath the previous cycle's peak, marking a 12.5% retraction from its new all time high. This fluctuation was encapsulated in a Long Legged Doji candle, emblematic of the market's indecision between bullish and bearish forces at this crucial juncture. The forthcoming week's closure is anticipated to be telling, potentially setting the market's trajectory for the weeks to come.

Despite Bitcoin's significant gains, market indicators suggest that it might have ventured into overextended territory, hinting at a potential continuation for a pullback. Such a retracement would align with the cycle's health, offering a reset for continued growth. Remarkably, the current cycle's steepest downturn has not exceeded -22.5%, relatively moderate by Bitcoin's historical standards. Yet, investors should remain cognizant of the possibility for a deeper correction, with historical precedents ranging between 30% to 40%. Should this scenario unfold, we could witness Bitcoin's valuation adjusting to levels between $53,000 and $44,000.

Conversely, Ethereum and select altcoins have navigated this period with varying degrees of resilience. While Ethereum experienced a notable -16.5% dip from its peak at $4,090, certain altcoins have rebounded impressively, even setting new all-time highs. Nevertheless, the broader altcoin market seems to be lagging in its recovery phase.

As we extend our lens to encompass macroeconomic factors, this week's FOMC meeting on Wednesday holds significant importance. The Federal Reserve's commentary on inflation and future interest rate expectations could inject volatility into the markets. While rate reductions are anticipated within the year, any deviations from expected fiscal policy, such as limiting rate cuts to two instead of three, could catalyze a risk-off sentiment across various asset classes.

🤑 AIRDROP FARMING 🤑

Gaimin
RNDR is at $3.7bn mcap and widely considered the best DePin coin, but did you know that there’s a coin that is launching soon that has a GPU network more than 50x bigger than RNDR?

Gaimin currently has the highest network of GPUs in the world (50,000+) and ever growing. To put this into perspective, this is 100x more than Render.

Gaimin is also building a Layer 2 on the Binance Smart Chain with 150,000 TPS and extremely low latency. Their Layer 2 is also powered by @movementlabsxyz. Since Gaimin has a huge eSports Organisation, I’d expect the Layer 2 to be gamer friendly.

Gaimin is releasing a token soon, this token is the first to be incubated by @CoinMarketCap and the vote came down to a unanimous decision.

Some homies wanted to know how to farm $GMRX…

There are a few things to do:
Watch their eSports team live on twitch.
To provide you GPU power on their website.
Buy the NFTs on SOL or ETH. SOL NFTs get you $120 of tokens on launch. ETH NFTs get you a fixed amount of tokens monthly (amount depends on rarity.

Participating in the Gaimin Referral program (similar to Portal Coin).

All links will be found on their page @gaiminIo

Sanctum
Are you aware that there is currently a Liquid staking platform that previously partnered with Jupiter?

This platform is called @sanctumso, Sanctum is a liquidity layer on Solana that allows you to stake coins just by purchasing liquid staking tokens. You can stake tokens such as Bonk by buying the BonkSOL LST, this is quite similar to jitoSOL where the coins increase in value relatively more than the price of SOL. The whole point of liquid staking is so your money is not locked for weeks or months when wanting to unstake and instead you can just swap tokens.

Sanctum is rumoured an airdrop so here is how to farm it:

1. Go to https://www.sanctum.so/ and launch the app.

2. Deposit SOL to receive Infinity, this LST was created by Sanctum so therefore I’d expect the airdrop to prioritise holders of Infinity. This token gives you an APY of 7.9% as-well.

3. Swap - You can swap from SOL to other LSTs such as BonkSOL or Drift Staked SOL. Volume is likely prioritised here.

🕵️ UNDER THE SPOTLIGHT: THE LIFE OF A COMMUNITY MEMBOOOR🕵️

This person entered a project for a multitude of reasons. They were looking for profit, short or long term, for friendship, to build, for status, for art, on a whim, or with a friend they joined a crypto community.

Different than any other investment thesis, or existing ecosystem. You live in a world, on telegram, discord, twitter, wechat, or elsewhere with other investors/creators/participants/consumers as well as the ceo, cfo, and full staff in your own shared work/think/social environment. As someone wise and orange once said, any community is the sum of its subcommunities. These form for multiple reasons, most fade all the same. Some however will last a lifetime.

When entering an ecosystem your reasoning can be hazy, a belief or conceptualized plan, A strategy. Overtime, this canhange. With roots, shared vision, relationships, co-creation models, digital identity, and the direction of the project/team themselves it becomes more. At least the good ones do.

In this position, someone with size can trade in and out of announcements, momentum, hype cycles within the ecosystem while also maintaining healthy positions in other possible Wls. And at times of high liquidity, everyone thrives.

In times of low liquidity, the community membooor can often be pushed out of alignment, or just out of a position and be forced to exit.

As key contributors among them begin to exit, this presence is missed. Others often follow in their footsteps. Some take their place, and another cycle of renewal takes place, as if another season had begun. Sometimes gifted WL opportunities or other perks for being a holder. Capital investments can vary, as can social investments. Levels of codependency like this in business can be understated. With decentralization comes a new shared responsibility in successes and failures. 

In the right circles, the information flowing through any semi respected community in web3 is insane. It is important to do well by others, and to build the right connections so not to be left in the dark. The general rule in crypto is to help whenever you can. And don't click any fkn links until you have quadruple checked them and ran it by 1 or 2 friends. 

Following these rules, and experimenting with some magic internet money can create a better you. This is a good life in web3, a rewarding one if you pick the right community. 

Never leave your entire bag locked in one thing...ANYTHING.

Have conviction plays, even if it's a small bag. Hold assets, pfps, art, coins, or memes that you like, and hold the moon bags. Explore multiple chains and ecosystems. Get to know builders outside of your immediate 1 or 2 communities. Ask yourself who do you want to be when this cycle is raging?

A community membooor throwing hearts in a chat. Or do you want to be more?

The Og's of the last cycle, last 2 cycles, or 3...Those who remember the beeple auction, those who remember MekaVerse, those who remember, those who attended a conference and received crypto punks, or even if you couldn't tell how the gas was on the Vayner sports pass. You will have a story to tell in crypto...What do you want it to be?

₿ ORDINALS ₿

Runestone Airdrop
The anticipated event of the Runestone airdrop began on Thursday, March 14 and finished the next day on Friday, March 15. Price ranged between 0.0124 to 0.02 BTC during the airdrop phase. Upon completion of the airdrops, the price rose to as high as 0.034 BTC. Within ~48 hours it had 375 BTC in volume and was sitting at a $250m market cap at time of writing.

Layer 1 Foundation
A new BRC20 governance structure has been formed by BRC20 creator - @domodata. The purpose of this governance is to protect users, while fostering future growth and reliability of the BRC20 protocol. Unisat and Best In Slot have been appointed the co-lead maintainers of the protocol, and several collaborators have been onboarded, with the commitment to the advocacy of decentralized governance.

UniCross
UniCross will allow for the inscription of any asset, using any token, on Bitcoin Layer 1, while enabling trading, lending, and staking on Layer 2. On March 12, UniCross airdropped genesis tokens for eligible participants who took part in their beta testing. The total supply is 1k and the price is currently sitting at 0.114 BTC with only 16 listed.

Unisat Updates
Unisat is working on a mobile app and going through the Google Play review process. They will be recruiting beta testers through their Discord server for feedback once the app is approved.

Within the Layer 1 Foundation framework, they are working on a BRC20-swap feature. Upon completion, it will be open-sourced.

Also in the works is something called Fractal Bitcoin. The testnet has been operational for a month and wallet integration is complete. Not much information is published yet but more to come.

Support for cursed inscriptions and Runes protocol are in their radar as well.

📜 FOR THE CULTURE: COIN SEASON & THE POWER OF MEME 📜

The bull is back and its memecoin season. Referred to as "shitcoins," they have surged in popularity and influence all over social media. This phenomenon has led to a shift in liquidity, with many people moving away from their NFT holdings and trying their luck in meme coins. As a result, several projects have noticed a decline in their floor prices.

Meme coins have the unique ability to become popular culture rapidly. They often come out of existing memes or create new ones. Anything can become a memecoin. They can even make it on national television by “choosing rich”. These coins can draw a lot of interest and engagement, as demonstrated by Pepe Coin's takeover of X and Dogwifhat's fundraising to place the dog meme on the Las Vegas Sphere. The stronger the meme, the stronger the community will go for it. Sometimes even “becoming” an image of it by adding a pair of Pit Viper glasses.

Meme coins operate within a cycle of hype and speculation. They often start as jokes or social experiments, gaining traction through viral marketing and community endorsements. As more people invest, the value of the coin rises, fueling further interest and investment. However, this cycle is volatile and can lead to significant price fluctuations and people losing everything while chasing the next big one.

One of the latest memecoins to explode in popularity is $BOME by Darkfarms. Launched on the Solana blockchain, $BOME aims to create a permanent storage library for internet memes. Its rapid rise in value and market capitalization demonstrates the ongoing appeal and influence of meme coins in the Web3 space. The coin is so popular that it was listed on KuCoin and Binance who couldn't pass on this opportunity.

Proceed with caution. While meme coins can be entertaining and potentially profitable, they also come with significant risks. The market is highly volatile, and prices can change rapidly. It's essential to approach meme coin investment with caution and never invest more than you can afford to lose. This is not financial advice, but an observation of the cultural impact and trends within the meme coin space in Web3. I’m personally not throwing huge amounts on these coins and most likely will be the top signal when I buy. Be smart.