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Cooki
@cooki
Memecoins are almost inverse Veblen, in the sense that the larger they become the less enticing they are Unless you use a lot of leverage you're not changing your life with a $1K punt on Doge at $23B mc $1K into a $500K mc shitcoin on Base however, that *could* be something memecoins are about the dream, the *could*
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Cooki
@cooki
Having said that though, I don't think human psychology quite works that way lol
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SydneyJason
@sydneyjason
And unlike other investments (bets?), memecoin success and possible life changing-ness is entirely due to luck. With other projects that have *some* utility, it’s reasonable to pick one vs another based on “merits”…
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Cooki
@cooki
to a certain extent yes I agree with you, but I also think there some non-luck based elements to it I saw DEGEN early, I knew it would do well, it just had the right "vibe". That being said I underestimated it, I thought it'd go to ~100M, but not 1B https://warpcast.com/cooki/0x6ab38ee9
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SydneyJason
@sydneyjason
There’s definitely a lot of utility in $DEGEN and it hit just the right seam (social, giving, viral) at the right time. Now it even has an L3 chain with loads of activity. Arguably way more utility than dogwifhat 😉 But whether that utility was there at inception or ex post facto is a great question…
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Cooki
@cooki
Yeah, you're right, really hard to predict
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