The Existing Metanarrative
This cycle has been dominated by MEME. The market has realized that paying for tokens of unreliable projects with valuations that are absurdly high and far exceed the costs of most VCs is a manipulated game. In contrast, we have fully embraced the more free and open MEME game. The continued outperformance of MEME relative to other Altcoins has led some to believe this is "financial nihilism" - ignoring all fundamentals in pursuit of narratives. While this has been the most profitable trade in the cryptocurrency space over the past two years, it has become increasingly prevalent, even earning MEME an unprecedented level of attention.