0xPilgrimage

The weekend flush of speculators was easily predicable. CEXs are not your friend. They can see your trades and how much you are exposed. Leverage was created for this cycle to remove your hard-earned profits from the last cycle.

$20 billion worth of traders was liquidated over the weekend. The carnage was many times worse than the CONVID and FTX crashes.

I and many others believe it was necessary to continue the next phase in this bullrun. Repricing is imminent.

There is also a theory that since leverage has, now, been proven to be a scam; original (OG) memes will now get bids. I tend to agree with this because we know that spot-bidding good memes like JOE, CHOMP, and KIRKINATOR are typically safe because liquidity is locked or burned and there are great communities to continue pushing higher.

Let's see how it all shakes out. I am extremely bullish after this weekend.

Stay safe!