March 23, 2024

Newsletter #285 - Memecoin Mania

Hey Shitcoiners,

This week’s newsletter is full of degeneracy and spicy content. Solana memecoins, terrible interviews and spicy statements are just some of what we have in store. To kick this one off, a quick reminder that there’s one way tried and tested way to lose your portfolio, leverage. Be careful out there.

You can also lose it all by sending Solana to random addresses. Don’t be the presale son.

This week, there was one memecoin in particular that caught everyone’s attention. That would be SLERF.

Imagine raising $10M in a presale, then accidentally burning a major portion of the token. It’s hard to say if this was a genius marketing stunt, or the dev really is an idiot.

He fucked up.

His phone also kept dying as he was hosting the space. RIP.

However, all was not lost. On the news that so much of the token was out of circulation, SLERF would moon. You know you have made it when Justin Sun is in your space.

The situation was so wild that even Bloomberg was writing about it. If you don’t have Bloomberg access, you can read the article here.

Now we don’t know if this is just a great bull market tweet or a hint, but Ansem’s phone died and he bought a new one. Was he the SLERF dev?

Anyway, enough speculation, let’s have some hard facts. With SLERF pulling numbers like it did, plenty made money. One individual with exceptional timing made $3.02M in 12 minutes. This space just keeps on giving.

The Wassie was down fairly bad. We hope he got out okay. Get me in lil shid.

With mainstream media picking up memecoin szn, it’s highly likely your nearest boomer will be telling you to buy some cash flowing assets soon.

We take a brief break from this memecoin segment for some fashion. Who wore it better?

Anyway, back to the memes. Base has emerged this week as the “new Solana”. The issue is, everything is very low effort. There are some good people out there though. Here’s one guy who has been robbing launch bots blind all week. What a champ.

When all the dust settles, there will be some wild court appearances.

Before this gets to court, ZachXBT will be on the case. He has been checking in on some of the recent pre-sales, and it’s not looking pretty.

Zach also caught an impersonator in the act. Someone managed to phish $2.6M by pretending to be Ansem.

He walked away with quite the haul.

It’s PvP out there. Be careful, anon.

In the meantime, tell us what you have in your wallet with emojis!

It’s inevitable that it will be absolutely disgusting.

Punk 5629 is not a fan of this new set of memes.

That’s enough of the memecoins. Let’s move to Bitcoin. Always practice good OPSEC.

Luke Dashjr thinks that a government attack on Bitcoin could already be happening through Ordinals. The government is attacking us via JPEGs!

Craig Wright has been saying for years he is Satoshi. Many have said that this is not the case. Ryan X. Charles, a one time “cult member”, now thinks Craig is a scammer.

And definitely not Satoshi.

He extended the olive branch to Hodlonaut and Peter McCormack, offering help with their lawsuits against Craig.

Back to JPEGs, we are so back.

However, it’s not looking so great for Remilia, the DAO behind Miladys. Their treasury was drained. RIP.

Kyle Davies is on the press tour as he looks to position himself as a good actor. However, we do not forget. Laura Shin chose violence.

Arthur Hayes wasn’t too complimentary either.

Oh, and Bryan from LayerZero shared some insight about how Kyle and Su wanted their entire treasury days before they blew up.


Over at BitMEX, withdrawals were disabled as someone kept dumping large amounts of BTC on the orderbook. Why?

In other exchange news, Kraken’s custody solution is now live!

Oh, here’s a little more spicy memecoin action for you. If you aped into this we don’t know what to tell you.

We round this one off with some wise words. You can’t spell trader without retard.

That's all for this week. Follow Andreas on Twitter and stay up to date with us @Shitcoindotcom too. See you next time.