TL;DR

• Right now, the memecoin market stands at ~$58B (having gained 10% in the last 24 hrs) and riskier investments are typically a symptom of a booming market.

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Stupidity = health.

Yep, fair point — that one needs a little more context.

When markets are in ‘boom’ phases, you’ll often see investors start to creep further out along the risk curve (i.e. looking for bigger returns in riskier assets, instead of lower returns in safer assets).

Another way of saying that is:

Healthy markets lead to investors making stupid decisions (so in a weird way, an increase in stupidity = a sign of health for the market).

Well, we have some good news!

The market is (apparently) healthier than your cousin Jen on a juice cleanse right now, cause this week memecoins outperformed the wider crypto market.

And memecoins are about as far out on the risk curve as you can get.

(Except maybe for telling your mom to “shut up,” which is a guaranteed death sentence).

As of this writing, the total memecoin market cap stands at ~$58B, having gained 10% in the last 24 hrs.

(Wonder what could have started that).

Let’s hope this momentum can sustain itself.