$W launched fast. People aped. Snipers sniped. $L was born.
What started as a memecoin moment turned into a community lesson.
Here’s a fair breakdown of what happened with $W—pre-coin, the hype, the losses, and how $L became the response.
No slander. Just the story.
Enjoy 👇

1.
$W was a memecoin launched on Base, riding the wave of the Farcaster platform’s rising energy and a fresh rebrand.
It was promoted as a community moment—a chance to lean into vibes, memes, and crypto-native fun.
But the way it launched tells a deeper story.👇

Elevating onchain creators 

@nodefoundation @brightmoments 
@ampsfun

cto @ bwl.gg, 100M+ users (bdut.ch) 🙏 $eggs is life

before heaven and earth there was precoin.fun

2.
@phil  is a respected voice in the Farcaster ecosystem. When he casts, people listen.
@farcasteradmin.eth  was involved in launching $W, using the @precoin  platform—a tool for raising ETH ahead of a token’s launch.
The pre-coin model helped bootstrap interest, but also set the stage for problems.👇

3. 
Pre-coin is a way to raise ETH before a token launches. Users send ETH to a project in exchange for an allocation of tokens once they go live.
In $W’s case, it felt like a community-backed initiative—casual, memetic, not overly financialized. But real ETH was on the line.

borodutch

we're at $34,000 liquidity at precoin.fun/itchy/phil that will go into market-buying whatever clanker @phil launches

reminder: as soon as he launches a clanker (and it looks like it's gonna be epic), all liquidity from the precoin is used to market-buy his clanker, then the resulting purchase is proportionally distributed to the precoin holders

let's make history

4.
@phil  casted early and confidently about $W. His enthusiasm gave the project legitimacy and kicked off a wave of excitement.
People saw it as part of Farcaster’s culture shift—something to participate in, not just speculate on.

4.
@phil  casted early and confidently about $W. His enthusiasm gave the project legitimacy and kicked off a wave of excitement.
People saw it as part of Farcaster’s culture shift—something to participate in, not just speculate on.
https://farcaster.xyz/farcasteradmin.eth/0xcf9ae26f

5.
@phil  pushed the pre-coin idea directly to Farcaster users. The pitch was playful, minimal, and framed around community fun.
https://farcaster.xyz/phil/0xeb70c8b6

This strategy worked. A significant amount of ETH flowed in pre-launch.

The @precoin pre-phil buy was actually the 23rd sniper and bought at a market cap of around $1 million, while the first sniper bought at ~30k market cap

This is why we all took the L on W, the better snipers bought before and dumped on us, as usual.

6.
When $W launched, bots and snipers hit immediately. Many pre-coin buyers didn’t get the upside they were hoping for.
Some saw their allocations dumped on, as the token pumped and dumped within minutes of launch.

love wins

W

Warpcast

0x3eefb523aCd0067d36b972adf5Bb62D12DA2BB07

7.
Despite the early losses, $W was still promoted post-launch. Some tried to rally community spirit back around the meme.
https://farcaster.xyz/farcasteradmin.eth/0x4f557a8d
https://farcaster.xyz/phil/0x9d02e23c

But the damage was done, and for many holders, the “fun” had turned into regret.

8.
@insidethesim.eth created $L in response. Not just another coin—it was an emotional reaction and coping mechanism for people who felt burned.
Memes flooded the feed. “We took the $L” became a rallying cry.
https://farcaster.xyz/engineerai/0x372e720b

6.
When $W launched, bots and snipers hit immediately. Many pre-coin buyers didn’t get the upside they were hoping for.
Some saw their allocations dumped on, as the token pumped and dumped within minutes of launch.
https://farcaster.xyz/df/0x47b76853