Meme has always been seen as the representative of retail investors due to its characteristics of fair launch and easily understandable culture. The desire for Meme to rise is a common expectation and wish among crypto investors. Of course, since the birth of Meme, debates about its price and future trends have never ceased. However, openly expressing bearish sentiments towards Meme might provoke a heated debate.
The impact of the previous debate between a16z CTO and the community regarding the value of Meme has not yet dissipated. Last night, a tweet from @CryptoDonAlt, a trader with 550,000 followers, sparked a new round of discussions by expressing a bearish view on Meme.
DonAlt believes that the Meme craze has come to an end and the sector is about to experience a major crash. He maintains an optimistic attitude towards tokens in other sectors and concludes his tweet with a slightly mocking tone, offering a “special advice” to the current Meme players who are enthusiastic about trading cat and dog-themed tokens.
Subsequently, DonAlt explained the reasons for his bearish view on Meme:
1. There are already countless Memes.
2. Thousands of new Memes appear every day.
3. Many people believe in the rotation from GME to Meme, which I find extremely foolish.
4. The overall chart does not look good.
5. Market sentiment is heavily biased towards bullishness.
In the current environment where Meme trading has become a kind of “crypto political correctness,” DonAlt’s “not-so-correct” remarks immediately triggered a chemical reaction among Meme players.
Prominent Meme trader Ansem (@blknoiz 06) quickly responded to DonAlt’s bearish view and questioned his choice to be bearish on MemeCoin, using a screenshot of cryptocurrency data from the past year to counter and sarcastically reply, “Let’s see.”
After his counterattack, Ansem promptly tweeted in support of Memecoin, stating that it is currently in an accelerating phase and 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 interesting 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, more reasons for speculation, and is easier to spread. Ansem naturally couldn’t stand the idea of condemning all Meme categories and openly expressing bearish sentiments.
As a highly influential KOL in the Memecoin community, Ansem’s firm defense of the value of MemeCoin has received a positive response from fans. Some fans even compared DonAlt, who expressed bearish sentiments towards 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 short selling.
In response to Ansem’s “declaration of war” and the intense backlash from Meme players, DonAlt himself responded with a lighthearted attitude, saying, “To be honest, I’m not afraid of your fans’ criticism, but I am more concerned about the little accidents that can happen in life.”
After a temporary pause in the debate, DonAlt and Ansem continue to maintain their bearish/bullish stance on MemeCoin on their respective social media accounts. DonAlt has been sharing his bearish views on $WIF, while Ansem remains convinced that there will be multiple MemeCoins with a market capitalization of over tens of billions of dollars.
This is not the first time there has been a debate about MemeCoin, and it 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 truly fascinates people.
Price fluctuations are a natural rule of the market, and we should not be too fixated on short-term price movements. If you believe in something, hold on to it firmly; if you don’t, sell and move on. That’s how trading should be.
Although DonAlt and Ansem firmly stand on opposite sides in this debate, it doesn’t prevent them from exchanging their views in a lighthearted and enjoyable manner. As for retail investors, they naturally hope that Meme will rise, so standing with Ansem seems to be a choice influenced by their positions.
After all, if even Meme collapses, it could truly signify the end of a crypto cycle.
Just like DonAlt and Ansem today, maintaining their positions while reducing the use of harsh words and adding more “LMAOOOOOO” can make the discussion more pleasant.
