One of the problems with eth ultra sound money meme is that it is a community admission that success is tied to relative price action. And there’s no winning that game.

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No, the meme conveys that ETH has properties of sound money (low inflation, constant demand from gas fees burnt), which in turn increases its monetary premium, which in turn secures the network better. 

Network security is the key goal, with ethereum being a PoS chain. 

Price action by itself was never the meme

Perhaps that is the intent, but I think many people perceive it to mean “eth is programmed to be a safe speculation.”