Summertime Sadness

Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.

Good morning my brothers. Most of you haven’t heard from me in weeks which is, depending on your point of view, a good thing. I’ve been enjoying the rest of my summer and taking a step back from a lot of the on-chain activity that we’ve grown accustomed to over the past few months.

When I say “take a step back” - I mean I haven’t been getting rugged on new pairs that launched 30 seconds ago. Very refreshing!

Instead, I actually spent a good amount of time side-questing in Ken’s project, PVP. It’s a gambling telegram bot which I think equates to a high beta bet on RLB (which is down badly at the moment).

My intention isn’t to shill, but I will point out that I almost became the main character of CT for all of 15 minutes. This was a lot of fun.

I’m just waiting for my degenerate behavior to not only be recognized, but actually make me some money. That would be a welcome change for once.

Pivoting back to shitcoins more broadly, it seems that the on-chain champions of summer have left their glory days behind them and have experienced pullbacks that are basically equivalent to getting rugged.

Shield your eyes, fellow bagholders…

Outside of RLB, my WAGMI bags are quickly evaporating in USD terms. Despite the current state of #mybags and price action testing the absolute limits of my conviction, I am constantly reminding myself that remaining active on CT and in discord does not mean I must always check the value of my long-term portfolio. I simply like to buy cheaper tokens and I will continue to do so. After all, this is my anti-jeet arc and goddamnit I will see it through.

With that in mind, I’m still of the mindset that there is always opportunity lurking in the market. Taking a disciplined approach with a small portion of your portfolio doesn’t seem to be a bad idea if you go in with an active strategy.

I’ve written about this before, but I think now is a good time to remind everyone of this fact. Zata wrote a great thread debriefing on their on-chain challenge with Jingtao and ran up $10k → $110k in about a month. Worth the read.

TLDR: leverage tools like BananaGun (wen pre-sale allocation?) and Maestro, follow the volume and pay attention to the deployers. That’s it - infinite money glitch!

The burning question for me here is - how much squeeze is worth it for the juice you may or may not get? There’s primarily two schools of thought:

Either you can scan bananagun / dexscreener new pairs all day every day, or you can take a handful of high-conviction, high-attention, high-volume trades with size.

OR - and hear me out - you can just watch 9 hours of uninterrupted, commercial-free football every Sunday from now until January while DCAing your paychecks. I know this one is highly unpopular, but it may just serve to be the best option because I think we’ll be chopping it up until ETFs are inevitably approved early next year. Catalysts for near-term number go up technology are sparse and jeets grow in both power and number by the day.

Stay safe out there, and for the love of God please stop buying 5/5 tax tokens.

Cheers,
Chuck