Degen

Great thread from Wintermute CEO Evgeny Gaevoy: https://x.com/EvgenyGaevoy/status/1886254961576579487

Never really got why people see market makers buying or selling a token as bullish or bearish—it just doesn’t make sense.

My take: Degens are always chasing the next 100x. Once a token hits a decent market cap, they take profits and rotate into the next potential moonshot. That constant rotation makes it tough for most alts to hold a high market cap for long.

Yeah man I know we’re (DEGEN) gonna hit 1$ and the quitters would definitely miss their chance