Degen

I have a slightly different take on why degen is dumping so hard

The announcement of the end of the vault,  and allowance when the degen app launches

Smart money is getting out now before all that degen unlocks and gets yeeted

In trading this is like a fallen angel. (That’s more a bond term. But bear with me.) 

They are going from an unknowable efphememeral pricing model of hope and glory and reach to a mostly able to be priced saturated commodity. 

(Trading/tipping/social app) 

It could be wildly successful and still be overpriced. Went from a meme with a dream. To a product where the token has no claim on any revenue. 

The gap between buyers of the two respective buckets is LARGE. And the second bucket is a pretty savvy bucket. So they let the sellers sell. 

Blaming VC’s for lack of sight is never a good look. (Even if true)