Flavor of the week, narrative driven memes/pvp tokens are likely dead or have topped.
When market makers pulled their liquidity, these things literally had no bids. $atom, for example plus a lot of memes+gov tokens....Proof that only tokens with revenue or PMF will survive going forward or find a bid from institutional capital.
"Alt szn" as we know it is dead. Going forward, only stuff like $bnb, $btc, maybe $eth will likely get bids or new ATHs
if bonk guy got wiped out on 100% of his positions
today represents a fundamental shift in narrative, influence, & culture
the cycle that started 2 years ago & was defined by memecoins, perps DEX and infra just ended
Not bearish, just acknowledging nothing will be the same
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