brypto

for one thing, it’s hard to describe most of these coins as “rug pulls.” they have down only charts and top buyers got burnt. many such cases, memecoins or otherwise.

imo FTX was way, way worse because they were perceived as a trustworthy custodian for years and customers lost funds simply by using their product. the only analogy for this cycle would be if customers lost funds on kraken or CB.

Terra/Luna was also worse imo because it was perceived as a relatively “safe” place to park stables and it totally imploded.

when market participants bought these recent political coins, they were aware that they are (more or less) valueless and were trying to flip for a quick 3x. this is a very different dynamic than believing a protocol or product is “safe” and then losing 100% of your funds through no fault of your own.

So accurate...I'm not surprised low-key. 

Ask your friends that are new to trading crypto, if they understand the relationship between FDV, Market Cap, and supply. 

They might even tell you they understand it, just to get you to shut up.