Meme has always been seen as a representation of individual investors due to its characteristics of fair distribution and easily understandable culture. The hope and desire of crypto investors is for Meme to rise. However, since the birth of Meme, debates about its price and future trends have never ceased. But if you openly express a bearish view on Meme, it is likely to spark a heated debate.
The recent debate between a16z CTO and the community regarding the value of Meme has not yet subsided. Last night, a tweet from @CryptoDonAlt, a trader with 550,000 followers, expressing a bearish view on Meme, triggered a new round of debate.
DonAlt believes that the Meme frenzy has come to an end and the sector is about to experience a major crash. At the same time, he maintains an optimistic attitude towards tokens in other sectors and sarcastically advises the current Meme players who are enthusiastic about trading cat and dog-themed memes.
DonAlt then explained his reasons for being bearish on Meme:
– There are already countless memes in existence.
– Thousands of new memes appear every day.
– Many people believe in the rotation from GME to Meme, which, in my opinion, is incredibly stupid.
– The overall chart doesn’t look great.
– Market sentiment is heavily biased towards bullishness.
In the current environment where Meme trading has become a kind of “cryptocurrency political correctness,” DonAlt’s “not so correct” comments immediately triggered a reaction from Meme players.
Well-known Meme influencer Ansem (@blknoiz 06) quickly countered DonAlt’s bearish views and presented a screenshot of cryptocurrency data from the past year. Ansem pointed out that Memecoin is the only altcoin sector that has seen an overall increase in the past year. He questioned DonAlt’s decision to be bearish on Memecoin and sarcastically responded with a “let’s see” remark.
After countering, Ansem quickly tweeted his support for Memecoin, stating that Memecoin is currently in an accelerating phase and that there will be new Memecoins worth billions of dollars in the future, similar to Pepe, Bonk, and Wif.
Ansem described this discussion as a “war” using an amusing Meme image. Indeed, this is a battle to defend the value of Meme in the hearts of crypto players. Meme shows the wealth effect, provides more liquidity and reasons for speculation, and is easier to spread. Ansem naturally couldn’t stand the idea of dismissing all Meme categories and publicly shorting them.
As a highly influential KOL in the Memecoin community, Ansem’s firm defense of the value of MemeCoin has received a positive response from his fans. Some fans even compared DonAlt, who is bearish on Meme, to Citron Research, which shorted GameStop stocks at the beginning of 2021, and compared Ansem, who defends the value of Meme, to Keith Gill, the legendary player who rallied retail investors to resist Wall Street’s shorting of GameStop stocks.
In response to Ansem’s “declaration of war” and the fierce counterattacks from Meme players, DonAlt responded with a lighthearted attitude, saying, “To be honest, I’m not afraid of your fans’ criticisms, but I’m more worried about the little accidents that can happen in life.”
After the heated debate subsided, DonAlt and Ansem continued to maintain their bearish/bullish stance on MemeCoin on their social media accounts. DonAlt has been sharing his bearish views on $WIF, while Ansem firmly believes that there will be multiple Memecoins with a market capitalization of over billions of dollars.
This is not the first debate about MemeCoin, and certainly won’t be the last. The core essence of the debate may not lie in MemeCoin itself, but rather in the spirit of freedom it represents and the possibilities it offers to transcend social classes, which is what fascinates people.
Price fluctuations are a common occurrence in the market, and one should not be too fixated on short-term price movements. If you believe in something, hold onto it firmly; if you don’t, sell and move on. That’s how trading should be.
Although DonAlt and Ansem firmly stand on different sides in this debate, it doesn’t affect their ability to exchange their views in a lighthearted and enjoyable manner. As for retail investors, of course, they hope that Meme will rise, so siding with Ansem seems to be a choice driven by their holdings.
After all, if even Meme fails, it could truly mean the end of a cryptocurrency cycle. Just like DonAlt and Ansem today, maintaining their positions with less cursing and more “LMAOOOOOO” is the way to go.
