It's 🐶 season

GM everyone. This is 2036. We scroll for gems all day so you don’t have to.

Here’s what we’re serving up today 🍲: Bitcoin is close to making a new all-time high. But a corner of crypto isn’t waiting for the party to start. Is it too late to get in?

Let’s dig in.

Last week, I wrote that “on the fringes of memecoins and AI - it looks like altseason is about to start 🚀”

Well - alt season has officially begun.

In the last 7 days, coins like WIF, BONK, PEPE, and DOGE are up +300-500%.

All eyes are on Solana and its memecoins.

Memecoins are both the most misunderstood and most popular investments in crypto.

I’ve written about them many times before. Since January’s email - many of them are up 10-20X.

These coins have no utility. No roadmap. No plans. No new technology.

They defy every investment framework about cash flow and fundamental analysis.

But good memes are easy to explain - and can spread like wildfire.

Memecoins are the ultimate casino for worldwide money. You don’t need access to US stocks or options to participate. All you need is an Internet connection.

Memecoins found product-market-fit in the last bull market. Several memecoins like DOGE and SHIB reached $50 BILLION + valuations.

But I expect this cycle to get even crazier.

Retail investors love themes that are easy to understand - like memecoins, games, and AI.

And when they log into Coinbase, that’s what they will want to buy.

Things got so crazy that in the last bull market, Coinbase changed their app’s headline in the app store from “Trade BTC, ETH”

to…

That tells you how much attention memecoins can capture.

I’ve said this before - ETH is too expensive for the average investor to trade memecoins.

Solana is much better suited for that.

Right now, the biggest memecoin on Solana is still BONK. But the most viral is WIF.

WIF is up +350% in two weeks, but doesn’t yet have a Coinbase or Binance listing.

If it catches on like DOGE or SHIB did last cycle, here’s where WIF could go…

In the last bull market, DOGE added $90 billion in market capitalization in less than a month.

Right now, WIF is still below $2 billion in market cap. And if the last bull market is any guide - we’re just getting started.

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1/ Bitcoin breaches $65,000

2/ Bitcoin makes new all-time high in Euros

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.