SCOOP’S TL;DR

📈 MARKET SENTIMENT

• BTC experienced a robust surge, almost reaching $72,000, but faced a sell-off following news of a federal judge denying Coinbase's motion to dismiss an SEC lawsuit, related to alleged violations of investor-protection laws.

🔥 THE TRENDING NARRATIVE

• The current sentiment

🗞️ TOP STORIES

• Ripple Launch Stablecoin

• Most Profitable Crypto Narrative

• Investors Flee Exchange

🏆 WEEKLY WINNER

• $MOEW Millionaire

😡 REKT SECTION

• CondomSOL

💎 PREMIUM SCOOP

• ANOTHER DEPIN / AI BANGER THAT IS LOOKING TO DOMINATE THE SECTOR. THIS HAS ALREADY FLOWN, BUT COULD IT STILL 10X FROM HERE?

  

  CRYPTO FEAR & GREED INDEX

• Crypto Total Market Cap $2.49T - 24/hour change 0.7%

• Crypto Market Cap Total Volume $101B - 24/hour Change - 9%

  Majors - 24/Hour change

  • BTC - $67,489 - 1.25%

  • ETH - $3341 - 2.3%

  • With the Halvening around the corner, it is always an uncertain choppy time. Whatever happens over the next few weeks, ensure to ride through the turbulence. The ETF flows, combined with the halving should deliver a supply shock like no other. There will be green light on the other side.

  • Sometimes the market gives us a choppy boring time. But rest assured, we all about to start the meat of the cycle. Where the most gains are made & when things get craziest.

  • BTC is up to 67k and ETH is approaching 3400, with SOL hovering around 170

  • A $113m net inflow into BTC ETFs was observed with substantially lower GBTC outflows in the past couple of days.

  • Total inflows into BTC ETFs since inception have reached a new high of $12.2bn.

  • Despite estimates ranging between $40-80bn for the year's total inflows, current inflows make for an incredibly bullish sentiment toward bitcoin & crypto.

  • Funding is looking clean, having ticked up a few days ago, indicating potential liquidations over the past 48 hours.

  • There's anticipation for a bounce, but sustainability and breaking out of the current range (around 65-70k for BTC) remain uncertain, amidst high volatility in alts.

  • Bitcoin/dominance

  • Still sticking to its guns around $54-54%, still potential for it to rise, before it drops resulting in a full-blown ALT season.

  • ALT Coins

  • AI / Depin / GPU / Memes remain the top performing tokens

  • On-chain New launches are hot. AI coins reaching $100M market cap out of the gate.

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  🔮 NARRATIVES TO FOCUS ON IN 2024

• - AI Infrastructure / Autonomous agents

• - GPU / Cloud Computing

• - Gaming / Game-fi

• - DEPIN (Decentralised Infrastructure)

• - RWA - Real-World Asset tokens

• - Memes - (you’re not too good for them)

• - BTC Defi / BRC20

• - New Layer 1’s

• - Parallelization EVM / Modular Blockchains

• - Solana Killers

  

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🔥 THE TRENDING NARRATIVE

Crypto is a narrative & trend-driven game, where attention goes, the money flows. So what’s hot?

AI RAGES FORWARD

On top of course memes, the popularity & attention toward AI-based crypto tokens are becoming increasingly more prevalent. Over the last few weeks despite the choppy market, new launch AI tokens have been running to $100M, 200M+ out of the gate, which is nothing short of incredible.

Major KOLs and influencers love them or hate them, but they have a lot of control over the market and help shape who buys what. The majority are calling for the AI sector to go so much higher. We often see the quote “You are not bullish enough on AI” Or “Times your AI targets by 10”.

Similar to how last cycle we had Meta, Amazon & Starbucks, and pretty much every major blue-chip company exploring the metaverse, which led to a huge gaming & NFT run, we now have major companies in the headlines expressing their interest in AI. For example, just yesterday rumours broke that Apple is developing AI robots.

You also have to consider, that the biggest producer of AI chips ‘NVIDIA’ has a market cap alone of $2.2 trillion that’s about 80% of the entire crypto market. The total AI category in crypto is just $36 Billion. Plenty of upside.

It’s thought that we are entering an era where AI companies, stocks & infrastructure is entering an exponential 10-year bull market of growth. Developments are unfolding at an alarming rate, the world will see news updates, and announcements almost daily for the foreseeable future.

With all this in mind, we can’t help but be massively bullish on AI. With that, it’s the reason it makes up the majority of our ALT coin portfolio.

Dont forget… AI requires massive amounts of GPU power, and there is a global shortage. This narrative also spills nicely into the Depin / Gpu narrative.

THE LEFT, MID & RIGHT CURVERS’

As the market becomes more ripe & frothy, it’s important you can clearly identify narratives, but its nearly almost as important to know how to Left & Right Curve opportunities. You want to avoid the Mid curve.

Let us explain.

Left curving is what most consider actions of ‘dumb money’. They don’t look into the details, they see the number go up, they don’t care about market cap, they avoid overanalyzing, they just APE into whatever is the hottest, funniest meme. And, it works, it is the reason Meme coins can soar so rapidly. Another example of Left curving is buying an AI low cap that is grabbing attention without overthinking whether or not it has longevity, without thinking whether the fundamentals are good or not.

Left curvers see an opportunity and they move. The bottom line is, that left curvers make money.

Right curving is what most consider the actions of ‘Smart Sophisticated money’. These are people who are heavily crypto-native, they understand DEFI protocols to a high level. They can recognize value in solid projects, often before everyone else. Because they are early to ‘Serious’ narratives they often win big. An example of this would have been riding $INJ or $RLB from low market caps. Again. Right curvers make money.

Mid Curving - Now this is one you must avoid. Do not be a mid-curver. Mid-curvers try to be ‘right curvers’, but they are not. They overanalyze. They believe they are smarter than most, but their inability to take action often leaves them sidelines or missing opportunities.

Mid-curvers do not make money.

Examples of Mid curving are:

• Missing a 100x parabolic rise of a meme coin because they were too scared to pull the trigger.

• Not buying meme coins at all. They feel they have no ‘intrinsic’ value.

• Not buying strong bullish coins because they feel there is no utility.

• Trying to find the next ‘XXXX’ Rather than just Apeing the front runner.

• Relying too heavily on the ‘Utility’ of coins, rather than the marketing or attention.

• Relying too heavily on previous cycle data.

• Bag holding to zero.

Now you know the difference between Left, right & mid curving, how does this relate back to AI coins?

We are at of the point of the cycle whereby AI tokens can launch, their products may never come to reality, but they are on trend & act as speculative vehicles, meaning they can run into the 100’s of millions if not billions.

It has been said, by people smarter than us, that new AI tokens right now, are… now wait for it… The Right curver’s meme coins.

Smart players (Right curvers) understand the AI narrative is hot, so they take a left-curve approach, they are not over analysing them. They are recognizing the trend & are riding the speculative wave. Whether the product ever launches or not doesn’t matter. What matters is attention.

🏋️ BARBELL’S WEEKLY PICK

In each issue, our Founder ‘Jack Barbell’ delivers a hot rising star crypto asset that is yet to explode.

You can Follow Jack Barbell on X - @thebarbell_

MEMECOINS ON A GREAT DISCOUNT RIGHT NOW

Solana has been the king of memes this cycle. The majors are on great discounts right now, $WIF, $POPCAT, $BONK can be scooped up for a bargain. If you're sidelined and want in, today is your lucky day.

But yet another player feline friend has entered the scene…

Shark Cat - $SC

WEBSITE

TWITTER

MCAP - $120M

Longer term Potential - 5-8X

Short-term trade - Currently down 70% from ATH. Once this reclaims an all-time high that’s a clean 2X+

Barbell’s Take

It’s a Shark. It’s a Cat. It’s a Shark…

I am more of a dog lover, but after years of dogs dominating, cats are finally getting some attention in the meme coin space.

So who’s the king of cats?

PopCat is arguably the King of cat coins on Solana (It is also a great buy right now)…..

… But as Doge has Floki & Shiba to compete with on ETH, as well as $WIF, $BONK, and $MYRO competing on Solana, Who’s to say we can’t have a second major player in the world of cats?

Enter Shark Cat - $SC

Similar to much loved $WIF - DogWifHat, quite literally a Dog with a hat, Shark Cat is a cat wearing a shark hat. We think there is something in that. Now we always say back the front runners, but $BONK came before $WIF which has now gone on to steal the show. We feel Shark Cat has the minerals to be the number 2 Cat coin on Solana & rival Pop Cat.

But why?

• $SC Has a similar feel to $WIF, but a cat. People will make the comparison.

• It has the cute factor - We are adults I know, But it matters.

• Positive & resilient community despite the sell-off.

• Has held an impressive market cap of around $120M

• Community owned & driven

• The community produces consistent organic content & memes

• 15K holders in just 7 days

Other than the above, there is another factor that made us initially take note of Shark Cat.

Smart Money loves $SC. Analyzing data from Chain Edge, a cohort of the most profitable wallets trading on Solana collectively hold over $15M worth of $SC, which given the market cap as the Shark Cat is pretty bullish.

Shark Cat $SC has also retraced significantly and is touching the infamous It is around an area of interest for investors and also means that just by reclaiming all the time high you are up over a 2x.

I remember when $WIF was down significantly, everyone thought it was dead & it then rose from the ashes like a phoenix. If we compare the $WIF & $SC charts, $SC follows a very similar pattern to what we saw with $WIF before it started the moon mission.

Now remember, it is quite literally a Cat with a Shark Hat. None of this makes sense and we can only try to find logic in the feline frenzy. But with memes, it is often best to ‘Left Curve’ it. In other words, don’t over think it.

Given the above factors, we have just taken a position in Shark Cat. The risk to reward is strong & we believe cats are here to stay!

IN THIS WEEK’S PREMIUM

1 X MASSIVELY BULLISH AI LOWCAP - JUST $25M MCAP - WE JUST BOUGHT THIS.

TOP SMART MONEY ACCUMULATIONS

SOLANA TOP SMART MONEY HOLDINGS - FIND OUT THIS INTERESTING MEME THEY ARE LOADING UP ON.

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Ripple Launch Stablecoin - The Triple Crown Is Complete

At a glance 🔎

• Ripple has announced a USD-Pegged Stablecoin.

• The digital asset is due later this year and will be backed by US Dollar deposits, short-term US Government Treasuries and other cash equivalents.

• It will be available on both the XRP Ledger and Ethereum Blockchains.

• This completes the Triple Crown in the form of a Stablecoin with Ripple already having a Token in $XRP and a Blockchain in XRP Ledger.

🕵️ Scoops take: 

It would be best if you speculated to accumulate and this is what Ripple is doing.

It is an extremely bold strategy given the competition already present in the market.

Tether ($USDT) currently has a market cap of $106bn and controls 69% of the market. Circle ($USDC) which is the second-largest has a $32bn market cap and 22% of the share.

If Ripple gets this launch right, they are potentially sitting on a goldmine, the only issue is, are the two big boys too heavy to push, time will tell.

Most Profitable Crypto Narrative - It Won’t Surprise You

At a glance 🔎

• CoinGecko has released a report showing the most profitable narratives so far this year.

• To nobody’s surprise, Memecoins topped the list with an average of 1312% returns across the top tokens and was 4.6x more profitable than the next best narrative, Tokenized Real World Assets (RWA).

• Notable entries were BOME, Brett, MEW and of course WIF.

• The final narrative to make the top 3 was AI coming in at 222%

🕵️ Scoops take: 

The memecoin frenzy isn’t slowing down and the 1st quarter of 2024 has been ballistic.

That being said, it would not be wise to focus on them as the only Narrative moving forward, DeFi, DePIN and Layer 1 all put up impressive numbers for the 1st Q of the year.

We are most impressed with RWA coming in 2nd with 286% as it shows a shift towards tangible value.

Investors Flee Exchange - Conspiracy Charges A Major Reason

At a glance 🔎

• KuCoin has suffered over $600m of outflows following the filing of lawsuits.

• As a result, their market share and trading volumes have nose-dived.

• The daily volume is down from $2bn to $520m and the market share went from 6% to under 3%.

• The two charges that the exchange faces are anti-money laundering violations and failing to register its Ethereum margin trading service.

  🕵️ Scoops take:

Getting your money off this exchange would be a wise move.

Mainstream exchanges have certainly been getting a tough time from the authorities, Binance and Coinbase stand out.

KuCoin did try a big roll of the dice giving away $10m in airdrops during the week. It did backfire however as over $1bn withdrawn followed.

It will be interesting to see what they have up their sleeve next.

🏆 WEEKLY WINNER🏆

$MOEW Millionaire

Sometimes it can take years, sometimes it may never happen and in this instance, it took less than 1 hour.

A trader turned $13k into $2m in less than an hour representing a gain of 158x.

The trader spotted $MOEW 10 minutes after opening and spent 4 ETH ($13k) to buy 499.9m

He then sold 111.65 $MOEW for 99 ETH ($328k)

His holdings of 338.24 $MOEW rose to a value of $1.76m

😡 THE REKT SECTION 😡

CondomSOL

If you thought this Dev was going to be a safe bet, we are sad to report that this is not the case.

The balloon burst.

Following the collection of token pre-sale funds, the Dev de-activated their X account.

The Solana memecoin, $CONDOM, raised 4965 SOL worth $906k before being rugged pre-launch.

Feast your eyes on the delights, surprises & Alpha below.

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