$MOTHER knows best

Author

The Triple Scoop
June 04, 2024

SCOOP’S TL;DR

📈 MARKET SENTIMENT

  • The bitcoin 4 Year Cycle is on Month 19, with previous cycles topping out at 35 months. This suggests we're past the midpoint of the rising portion, potentially indicating a very bullish setup ahead.

🔥 BARBELL’S WEEKLY PICK

  • Best picks on BASE + Mother

🔥 THE TRENDING NARRATIVE

  • Mixed narrative - Base soon?

🗞️ TOP STORIES

  • Roaring Kitty Awakens (Again)

  • A Tale Of Two Celebs

  • Term Structure Goes Live

🏆 WEEKLY WINNER

  • Brian Armstrong

😡 REKT SECTION

  • David Kagel

💎 PREMIUM

  • Crypto Total Market Cap $2.58T - 24/hour change 1.2%

  • Crypto Market Cap Total Volume $73B - 24/hour Change -11%

  • Bitcoin ETFs have been on a 15-day inflow streak, accumulating $2.4 billion in the past month. This inflow trend indicates strong investor interest and the ETFs' ability to recover after selloffs.

  • The bitcoin 4 Year Cycle is on Month 19, with previous cycles topping out at 35 months. This suggests we're past the midpoint of the rising portion, potentially indicating a very bullish setup ahead.

  • El Salvador now owns 5,770 Bitcoin, worth over $402 million, showcasing the country's commitment to cryptocurrency.

  • Hong Kong Bitcoin ETFs saw $32 million in inflows yesterday, hinting at growing interest in the region.

  • Altcoins are following a path similar to the 2020 all season, with the potential for a big move as indicated by the RSI.

  • $BNB has reached a new all-time high at $675.

  • The "alt mania season" is expected to occur when Bitcoin enters price discovery after breaking the previous cycle's ATH with conviction. This phase will likely see altcoins outperforming Bitcoin.

  • The exact timing of the alt mania season remains uncertain, but it is expected to happen as Bitcoin continues to make new highs.

    🔮 NARRATIVES TO FOCUS ON IN 2024

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

  • - AI Infrastructure / Autonomous agents

  • - GPU / Cloud Computing

  • - Gaming / Game-fi

  • - DEPIN (Decentralised Infrastructure)

  • - RWA - Real-World Asset tokens

  • - BTC Defi / BRC20

  • - Parallelization EVM / Modular Blockchains

  • - Solana Killers

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Mixed Narratives + Base

(Memes overarching theme) - Whilst Memes right now still take centre stage, and sucking most of the liquidity from the market. We do see Smart Money wallets starting to pick up a mixture of utility-based tokens. This is still much less than memes, but with a major ALT season on its way, and with a lot of utility alts, in particular, being heavily sold off, Smart Money may be eyeing up easy profit here.

So many new tokens, but the same liquidity in the market. This will soon change, but for now it remains a player vs player environment.

  • Poltifi

  • The major Politifi tokens are in the spotlight. Trump-themed tokens such as $MAGA $Tremp and $TRUMP  are more favoured. But $BODEN  remains remains to range bound with a healthy community.

  • The presidential debates are back end of this month, expect this sector to perform well.

  • Frog / Matt Furie Related

  • Pepe-related tokens are performing well across Eth & Sol following the Main Pepe’s rise. We are seeing meme cross-overs between the likes of Trump and Pepe. The major Pepes rise has also meant that the Matt Furie family of tokens have caught a bid, like $BRETT on base, Wolf and Andy

  • Celebrity

  • Iggy Azalia’s $Mother just hit all-time highs of over $80M.

  • The initially laughed-at token and narrative have definitely got the market wondering what the future holds.

  • We believe this is a glimpse of what is to come with more ‘Notable figures’ creating Social tokens. Iggy’s success was due to her ability to quickly adopt crypto culture. $Mother will likely be the leading token of this category as the first major success.

  • Roaring Kitty / GME

  • Since Roaring Kitty Tweeted again regarding his $116M $GME position, the market went nuts, causing both the actual stock and the Meme tokens $GME & AMC to skyrocket. These memes are super volatile based on the actual price action of $GME stock.

Base Season around the corner?

  • Tokens on base are starting to catch a bid.

  • Notable $Brett has a major run from its lows and we are now seeing Whale and Smart money increasingly show interest in Based tokens.

  • Base on-chain trading volume is still the smallest when compared to Sol and Eth.

  • Coinbase new smart wallet, combined with the marketing campaigns of On chain summer will continue to drive more attention towards Base.

  • What’s interesting is that the Solana mania, is somewhat organic, given its superior user experience when compared to Ethereum. When we see ramped activities around Base, it could be largely attributed to campaigns driven by Coinbase. Either way, if Base can deliver the same level of experience for retail as Solana does, it will become a fierce competitor.

  • Dive into Barbell’s Weekly Picks Below to grab his best picks on BASE.

🏋️ 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_

BEST BASE PICKS

(Note. At the current time. I am more bullish on Sol and Eth. Should BASE start dominating volume, then I think the below will be the major performers)

$TOSHI -$209M MCAP -  One of the larger cat memes on Base. 149K holders which has grown strong over the past few weeks. Smart wallets are starting to bid on this token.

$KEYCAT - $66M MCAP - Another Cat coin on base. 77K well-distributed holders with over $2M of smart money holding this. It’s a funny organic meme I can see having a big run.

$BENJI $37M MCAP - Dog meme. Recently had a large spike in price somewhere near 90%. That being said it still sits below an all-time high. I would personally wait for a retracement since it’s run.

$BRETT $1B MCAP - Recently had a major run from a big sell off due to Fud. You can’t argue that this is largest meme on BASE. Surprisingly though smart money really doesn’t favour $BRETT, maybe because of it previous fud. Despite this, the market beat the smart wallets, and since its lows it has ripped a 10X in 1 month.

Solana

New pick

$MOTHER - $90M MCAP - I get it, its literally ripped to 90M Mcap in a week. If you missed this one I am as annoyed as you are. Why? because on the day of launch, I ended up buying $IGGY which turned out to be the scam version launched by Sahil. This threw me off, and caused me not to buy $MOTHER. Anyways…

Monitor the sentiment around this token closely. If Social tokens / the celeb meta grows into something much bigger. My bets is that this will be the leader of the category and will continue to perform.

This is a careful balancing act of being a real trend & Narrative and just another flash in the pan. Celebrity endorsements in the crypto or web3 world have never ended up great. But could it be time to change?

Previous Picks - Remain Very Bullish on All - See comments.

$DOGE - $0.16- 4.2X to ATH (Still a great pick)

$WIF -$3.22 -  Still going through long consolidation. Attention is elsewhere. for now. The longer the consolidation the harder it will run.

$POPCAT $0.49c up from 43c last week. Sooner or later this thing is going to bust a nut and pass ATH.

$MICHI - $0.23c - Bargain buy - No changes - Now very sold off / Smart Money favourite / Holder count growing fast.

$BODEN - $0.24c - Heavily solid off - Strong community & Holder count / Lots of Media / attention catalysts ahead

$TREMP - $1.15 - Strong price action - Lots of Media/attention catalysts ahead

Roaring Kitty Awakens (Again) - Part II

At a glance 🔎

  • Roaring Kitty, Keith Gill, shared his latest position on Reddit after a 3-year break on the platform.

  • He currently holds $260m worth of GME stock and call options.

  • Specifically, he owns 5m shares of $GME and 120,000 call options which expire on the 21st of June

  • He is up $85m for the day (3rd of June)

  • Morgan Stanley’s trading platform E*Trade considers kicking him off the platform.

🕵️ Scoops take: 

If there was ever a reason to justify the Blockchain over platforms like E*Trade, you cannot be kicked off the Blockchain.

This is very bullish for Crypto as the SEC wants to stick their noses in.

Solana Memecoin $GME is up over 300% for the day with a current market cap of $108m so if you want to dive in on the momentum on strictly Blockchain, you can.

Power to the people.

A Tale Of Two Celebs - One Gets Knocked Out

At a glance 🔎

  • We shared Iggy Azalea’s coin $MOTHER last week when the coin was at a market cap of $6m with volume at $22.5m.

  • Now it sits at a market cap of $71.8m having hit ATH over the weekend.

  • Floyd Mayweather also dropped a token, $FLOYD which reached a peak of $6m MC and sits at $134k currently.

  • ZachXBT has highlighted Mayweathers previous 12 failings within the space, raising concern over anything he launches.

🕵️ Scoops take: 

Some Celebrities do it right and some clearly don’t.

We need to give Iggy credit here, she has over 14,000 holders and has hired a full-on dev team.

For success in this meme era, community means everything.

It may have passed its boom, it may go to zero, it may be a long steady play… it’s extremely volatile but the right steps have been taken to ensure the project has a good chance of success.

For Floyd? You can change that 50-0 for 50-1.

PNG. Line Break - Triple Scoop

Term Structure Goes Live - It Is A Revolution

At a glance 🔎

  • They want to revolutionize risk and liquidity management in DeFi.

  • The launched protocol creates markets for lending and borrowing at fixed terms and rates.

  • Auctions and secondary markets are used for trading fixed-income tokens through order books.

  • The tools behind the protocol will eliminate gas fees for placing and cancelling orders, allowing users to withdraw assets and maintain data easily.

🕵️Scoop’s take:

The power lies with the users on this new platform.

With 8 mainstream collateral tokens available for borrowing or lending, the choice certainly flatters the investor.

We also love how they took their time instead of rolling out too early, in March, 560 wallets participated and over 314,000 transactions were successfully processed.

The Blockchain continues to show its potential, it is constantly adapting and broadening services that will aid with mass adoption.

🏆 WEEKLY WINNER🏆

Brian Armstrong

As the famous saying goes…”Be the change you want to see in the world”

This is exactly what Coinbase CEO, Brian Armstrong, is doing.

Coinbase has donated $25m to vote anti-crypto politicians out of Congres.

The donation was made to Fairshake, which has already spent over $40m supporting pro-crypto candidates in the upcoming election.

With the bullishness Trump is showing, there is a pro-crypto narrative building.


😡 THE REKT SECTION 😡

David Kagel

The 85-year-old former attorney has admitted guilt in a conspiracy to operate a Crypto Ponzi scheme.

The scheme has defrauded victims of over $9.5m

The scheme promised investors high-yield profits by using false guarantees and assurances, including AI trading bots used to manage investments in Crypto markets.

He is set to be sentenced in September and faces up to 5 years in prison.

Not quite the planned retirement.

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

PNG. Line Break - Triple Scoop

TOP SMART MONEY HOLDINGS - ETH

Powered by Chainedge - Tracking the top 0.1% of traders by profitability

Pretty similar to last week’s issue, but one new entrant to the smart money favourites is $TUZKI. Tuzki is a low-cap meme, being dubbed as the Chinese Pepe. We checked out the meme itself, and it does appear to be very popular in China, particularly on social messaging platforms.

NOTABLE SMART MONEY ACCUMULATIONS - ETH

Powered by Chainedge - Tracking the top 0.1% of traders by profitability

% Represents the increase in Smart Money accumulating the token over 7 days.

  • $ELON - 75% Increase in smart wallet accumulation

  • $OLAS- 35% Increase in smart wallet accumulation

  • $GLQ - 6% Increase in smart wallet accumulation

TOP SMART MONEY HOLDINGS - SOLANA

Powered by Chainedge - Tracking the top 0.1% of traders by profitability

% Represents the $ value of holdings of Top smart money wallets on Solana.

The top smart money favourites on Sol remain pretty consistent, but $MOTHER has crept into the top holdings. Having missed the initial $MOTHER run-up due to buying the wrong token. (Yeah it sucks), we are carefully monitoring this one to see if the Celeb / social token category has longevity. If it can, we will look to make a play in the token.

NOTABLE SMART MONEY ACCUMULATIONS - SOL

% Represents the increase in Smart Money accumulating the token over 7 days.

  • HAMMY - 22% Increase in smart wallet accumulation

  • MUMU - 132% Increase in smart wallet accumulation

  • MICHI 13% Increase in smart wallet accumulation

  • MINI 66% Increase in smart wallet accumulation

  • SELFIE 77% Increase in smart wallet accumulation

Solana smart players have been much more active and aggressive in their accumulation this week. To be honest, all the above tokens they have been scooping up we feel are really solid picks. Remember it is a meme market right now, so no point fighting the trend. The lowest cap options with the largest potential upside out of the above are $MINI and $SELFIE. Both have really strong communities and have seen impressive holder growth over the last week. MINI & SELFIE are both picking up from the sell-off lows and offer a high round amount of upside.