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‘The Easy Days’ In Crypto Are Over And Meme Coins Have Contributed To This, Says Trader

Pseudonymous trader Dark Crypto Lord offered a sobering analysis of why the cryptocurrency market is currently difficult for retail investors.

What Happened: In his latest tweet, the trader reflected on the fading era of easy, high-multiplier gains in crypto, pointing out the contrasting conditions of the current supposed bull run. He observes that despite being in a supposed bull run, most altcoins have fallen below their prices from a year ago.

Even newly listed altcoins have seen significant declines, with some performing worse than post-FTX crash levels. He criticizes current tokenomics where projects launch with a low float and high fully diluted valuation (FDV), only for venture capitalists to dump their tokens upon unlock.

The narrative around investment has shifted from long-term worth to short-term gains on speculative meme coins. Previously, investors were encouraged to dollar-cost average (DCA) into promising projects with revolutionary potential.

Now, speculative investments in meme coins dominate. “We are just telling people, hey if you put $500 in dogcuminu or washedupceleb, there’s a chance that you can make $100,000!” he says, stressing the change in priorities.

It’s not clear whether he includes older, more established memes like Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) or refers mostly to newer meme coins like Dogwifhat (CRYPTO: WIF). Prominent celebrity-launched and related coins are Maga Memecoin (CRYPTO: TRUMP), Mother Iggy (CRYPTO: MOTHER) and Caitlyn Jenner (CRYPTO: JENNER).

Benzinga Future of Digital Assets conference

Also Read: Is The ‘Meme Coin Super Cycle’ Over? Trader Outlines Pros And Cons

Why It Matters: Dark Crypto Lord discusses how repetitive negative narratives have created a self-fulfilling prophecy, “Nobody’s willing to invest their money in ‘tech’ coins anymore.” He also highlighted that the FTX collapse has left a lasting negative impact, requiring a significant positive event to restore confidence.

While acknowledging that news trading and presales have become less lucrative unless one is an insider, Dark Crypto Lord emphasizes “We have to learn to adapt and grow. Just gotta be a lot more patient now and expect less multipliers.”

What’s Next: The influence of meme coins and. Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next: Raoul Pal Foresees Crypto Boom In Election Year’s Q4, Names It ‘Banana Zone’

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Image: Shutterstock

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