Degen

Teach

The market is responding favourably to the recent Degen changes.

With the daily tipping dropping from 4M to 1M this should serve to reduce sell pressure and drive prices higher in the short term.

Looking at the daily chart I think a return to test the 200 day exponential average (white line) from below looks likely. 

the hat stays on 🎩

I do like the fact the that Daily Emissions will be cut by 80%. 

I think this is definitely gonna take us where we want to get to.

🎩 first, but I like being part of this experiment that is the Farcaster network. 

Yea the reduction in daily sell pressure should definitely help. 

The only unknown for me is how many banned users have large locked holdings that will unlock and become at risk over the next few months.

My expectation however is that if Degen is doing well at the time even those who are publicly shouting about dumping probably won't, their greed will get the better of them. 

It's probably also safe to assume that the largest extractors may not have been holding much beyond what they have currently locked as they have likely been selling some after each season.

A student of life. I trade things. Here to help you make better decisions. I read the chart, I do not predict the future. Founder of the /teach channel.

I did claim, I was actually going to DM you, i'm not sure if you had anything to do with that but if you did, thank you very much, it is much appreciated.

I agree, absolutely this is the case, I think you can argue that is it THE OG Base token. 

In my head, whether rightly or wrongly, I think Degen is intrinsically linked to the success of Base as a whole. 

Without Degen many of the users wouldn't be on Farcaster or Base chain at all.

ya same.  The incentives to relock are also not great at all. 

I do wonder though what % of the whole of Degen holders even care about tipping.  I assume there are a bunch who just treat it like a Memecoin ...

and if we do go up, the narrative is strong around Degen as an OG Base Memecoin