- 2036
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- đź‘€ ONE winner in this crash
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 took a beating this weekend. But some coins have recovered surprisingly well… and they’re worth paying attention to.
Let’s dig in.
Over the last couple of days, Bitcoin is down -12%.
Traders taking on too much leverage and getting it wrong - classic crypto stuff, especially around previous all-time highs.
Naturally, almost all other crypto assets have tanked, too.
But here’s where it gets interesting…
Some coins have performed substantially better than others in this dip.
These are assets we say have relative strength i.e. they decline a lot less and recover much faster than everything else.
And you need to pay attention to those assets: they’re the ones the market has the most confidence in.
Based on this picture, what looks like the strongest asset to own right now?
That’s right: Solana.
Solana and its entire ecosystem have kept up incredibly well during this dip.
Ethereum is back to its price from 2 weeks ago.
But some Solana ecosystem coins - like WIF and JUP - have already made incredible comebacks.
And Solana made a cycle high of $210 just a few hours ago.
This is why market dips are gems of valuable information.
During dips, the market tips its hand.
And it’s betting big on Solana and its memecoin ecosystem. Remember, people usually have to buy SOL before buying other memecoins.
If you pay close attention to the picture above, you’ll see another ecosystem that’s starting to catch up to Solana: Avalanche.
Avalanche is a Layer 1 similar to Solana in some ways - but with a focus on gaming.
Many traders who feel like they missed out on Solana will try to play catch up with Avalanche.
I don’t have an opinion on Avalanche right now.
It could continue to outperform Solana for the time being.
But I still believe Solana will come out on top in the end.
Just this weekend, Elon Musk and his friends discussed buying memecoins on Twitter.
He even posted a picture of his dogs… with hats.
The WIF (dogwifhat) community is one of the strongest memecoin communities I’ve seen since I got into crypto. And I think it’ll only get stronger from here.
An NFT of the original picture of the dog wif hat was purchased a few hours ago for $4.3M by GCR… the legendary trader I told you about two weeks ago:
Do what you will with this information.
I know dips can be scary.
But they are packed with valuable information.
Use them wisely.
🎯 Want to invest in early-stage crypto opportunities before everyone else?
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.