Degen

Why tokens don’t hold value anymore:

New tokens are launched every single day.

New token? 🚀 Pumps to $3M, $5M, $8M, maybe even $20M MC if the hype is strong enough.
But that’s usually the ceiling — it rarely goes further.

But the hype cools off.
A new token is born.
Money rotates.
The 1-week-old token dumps 50%+.
Everyone rushes into the next shiny thing.

This happens on repeat.

Attention doesn’t stay.
Conviction doesn’t exist.
Communities aren’t communities — they’re exit liquidity farms.

People don’t believe in your new token.
They just want to extract max profit from it.
Once that’s gone, they vanish.
No support, no loyalty. Just pure rotation.

That’s why we no longer see tokens reaching or maintaining high valuations.
Because nobody’s holding.
Nobody’s building belief.
Everyone’s just farming and dumping.

Remember when $DEGEN reached crazy heights?
It was because people believed. They held. They cared.
But once farming and instant exits took over, it crashed — not from lack of value, but lack of conviction.

And this cycle continues every single week.

There’s always a new token launching today — and people will ape in just for the hype.

This is NFA, but the best thing you can do is be early, ride the wave, and take profits.

Be wise. Don’t marry the bag.
Most tokens won’t make it long-term. Just a few will still be around in a couple of years — the rest will be forgotten.

Remember $POINTS?
One of the first tokens launched on Farcaster. It had so much hype that even CT aped in.

Where is it now?

Exactly.
Nobody talks about it anymore.

The same thing will happen with 90% of the tokens you see people buying today.

Until the market shifts into a true UPONLY mode again, this rotation meta is here to stay.

Rant over. Feel free to share your thoughts in the comments.

this cast is both completely true and nihilistic in the same breath. 

it makes you think that the actual space won't evolve until the problem is solved. 

and to do that, you need a few very high-quality tokens to trailblaze a new path forward, which is what $DEGEN and some others are attempting to do.

🎩 first, but I like being part of this experiment that is Farcaster 🌶️

Yeah..I read this as sort of a FUD post yesterday. We can be realistic and know we’re shouting into an echo chamber, but the hope for it to take off always remains. Degen to $1. lol. But first let’s get back to a penny. And hopefully a dime.

it was a good post, very accurate in terms of sentiment. 

but things can change quickly, and there is no way gambling on random memes is what takes crypto mainstream. 

what takes it mainstream is an epic token - like $DEGEN - that has an incredible story and goes on a historic run, essentially becoming a household name like Facebook or something.  and then having a bunch of other similar type tokens do the same.

I agree wholeheartedly to everything you just said. I’m just feeling the wear of my bag being back down 40-50% lol. I need a win right now. Or at least to have support back up above half a cent to feel really good about my choices. 😬

yah this is really an awful phase, probably the worst one I remember going through with Degen