@samczsun @aeyakovenko The main new development is that market participants are now moth-like. They actively rush into these scams, mostly knowing that they are scams, because the goal is to flip the scam for a 3x to somebody else. 

There is no skepticism left for these buyers, they just want to hit a…

@samczsun @aeyakovenko Anyway, I don’t see why people are really panicking about this so much. It is clearly a self-correcting problem. 

The same moral panic did not exist when ICP went from 300bn FDV to 3bn FDV, despite it being a relatively slightly more sophisticated capital extraction exercise.…

Cobie

Good take from @cobie on memecoins:

https://x.com/cobie/status/1891296963469115827?s=46