digital slowmad

Digital Slowmad newsletter

22 March 2024

📊 Crypto portfolio update

Exposure: 100.0%

Net return: 1441.9%

Comments: In the prior two weeks, the Solana ecosystem roared to life as SOL surged over 50% while its altcoins rallied in triple-digit percentages.

Thankfully, our private group was ready to capitalize on this as I had shared my Solana thesis with members a month ago.

Here's a portion of it:

solana thesis

I share all my entries and position sizing (percentage) details in the group, and everyone saw - in real time - how I took my portfolio to new all-time highs based on this thesis.

I've said this before but it bears repeating: This is the time for us to be rewarded for our perseverance during the bear market.

With the bull market now in full swing, I'm on track to hit my FU-money target within the next 12 months. If you'd like to join me on this journey, join the private group here.

Current allocation:

Fully allocated - Details available in private group

🤡 Memecoins rising

In the previous cycle, memecoins were viewed as a complete joke that only degenerate gamblers and unsophisticated buyers would partake in.

They were the last token category to pump in the final phase of the bull cycle as newly-rich crypto speculators used their profits to gamble for more gains. 

But although some people got fabulously rich with memecoins back then, no one took it seriously.

This cycle, something changed.

Rather than being the last token category to pump, memecoins was one of the first - It rallied alongside Bitcoin in the early stage of the bull market before Bitcoin even broke its previous all-time high.

This unexpected behaviour signals a fundamental change in the way people view memecoins.

Rather than being a joke to throw a few dollars into "for shits and giggles", memecoins have  seemingly become a serious consideration for large capital allocators.

Along with this shift comes a new way of thinking about crypto speculation: "At the end of the day, everything is a meme. Even Bitcoin is a meme."

This is an extension to the popular proverb "narratives over fundamentals", the core idea being that it is ultimately perception that drives crypto prices, not the fundamental merits of a project or token.

In other words, the tokens that go up the most are those that most people expect to go up.

This circular logic sounds ridiculous on the surface, but consider that there are many such "ridiculous" things happening IRL.

Take the Mona Lisa for example. It's the world's most popular painting not because of its beauty or artistic merits, but simply because it's the most well known. People who travel to see the Mona Lisa do so because they think, "it's the world's most popular painting, so I have to see it in person", not because they think it's worth seeing on its own. The painting is well known for being well known.

So while there are still many people who balk at memecoins, the past few weeks have taught an important lesson... for those who paid attention.

📝 Admin update

🖼️ 3D artist montage

From the creator: "In February of 2024 I challenged 3D artists to create a unique piece of art based around a simple provided template..."

Feel free to check out the other challenge templates in his channel, they're all great.

💬 Joke of the week


crypto capo was right

Thanks for reading, and have a great weekend. 🥃


P.S. If you have any questions or feedback, let me know at: chris[at]digitalslowmad[dot]com

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