0xen 🎩
@0xen
The Zerion piece published today was a good read for folks interested in $degen lore but we should stop calling the largest L3 by market cap, TVL and volume a 'memecoin'
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Matt Lee
@mattlee
The fact that it’s both a meme coin and an l3 token is why I haven’t sold. If it was just one of them I’d take profits.
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Dan Romero
@artlu
100% agree that $degen is a memecoin, a scene coin, a utilitycoin, and has an L3. Price + flows may be dominated by memecoin winds, though. My views: - profit-taking is risk management - market doesn't care about ur PnL - scene coin + utility + L3 provide a valuation floor, reduce risk of going to zero NFA DYOR
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Dan Romero
@artlu
if $degen is worth a nickel, my rough breakdown: - 0.02 scenecoin collective value for /degen community, incl. /perl, /drakula, /bracket - 0.02 memecoin attention value for Warpcast fund-raise - 0.0075 L3 - 0.0025 utility/visibility for Farcaster tipping economy Healthy IMO! Eager to hear ur views @mattlee + anons!
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Matt Lee
@mattlee
Thanks for sharing this. I agree in terms of logical value, but there are meme coins in the top 100, and there are gas tokens for chains with less usage in the top 100, and DEGEN being both means massive potential upside. Potential is the key word though.
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