I’m not a fan of this content coining trend by the @base team
The reason why base coins have been doing so well is because there is a large amount of liquidity on base and a small amount of coins
This means that liquidity isn’t diluted as much and the small amount of quality coins get bid heavily and we have less PvP on base
If Jesse and the base team want to turn every piece of shit picture or tweet or whatever into a coin, base is going to be flooded with garbage making it no better than solana and turning it into a PvP hell
There’s another AI coins on base, also working on AI Agents and recently MCP starting to gain attention again but still trading dirt cheap compared to ath
It’s something I’ve shilled in the past
$REI moving up and holding is a sign that people are willing to bid AI coins again
the reason why developers are leaving crypto is much simpler than people realize, its because of memecoins
when developers who have been working 40-50 hours a week on a project open twitter, and see their feed dominated by pumpfun projects which require 0 technical expertise yet reach 9-10 figure valuations, they feel 0 motivation to actually try and build something useful. This isn't only because memecoins reach such high valuations but also because the industry mostly doesn't care about 'useful' things
This is unless it's something which enables better gambling - like pumpfun. But, if the future of this industry is just building better mechanisms to gamble with, this is not a serious industry and people should not expect top tier developers to stay or actively build here
You could argue that crypto has always had memecoins, but the rise of solana's dominance over the past year is obvious proof that the memecoin industry mindshare has increased exponentially compared to the past
personally i couldnt care less about the future of this industry/the future of memecoins but i just think that the reason that this graph has topped out is much simpler than people realize
looking more and more likely that $REI has bottomed
- volume and makers count has started to increase
- chart bouncing off of one of the first support levels
- engagement on the REI X account has started to increase again
i think its quite stupid to fade this because its '3x off the lows', its still down -88% from ATH lol and the bounce is barely visible on the chart
my initial thesis for $REI when I got into it last year was that there really wasn't anything on Base that is comparable to this project (in terms of tech), and from then until now the tech has only improved
If $ETH has a million fans, then I am one of them. If $ETH has ten fans, then I am one of them. If $ETH has only one fan then that is me. If $ETH has no fans, then that means I am no longer on earth. If the world is against $ETH, then I am against the world.
I've been watching the #VIRTUAL chart for a while for signs of bottoming and finally it seems like it's likely the bottom has formed. -90% correction and all of the tourists are out
same with $REI, I was wrong earlier when I thought that 20M was the bottom but I don't see how it can go much lower here (famous last words)
i'm going to be loading up more base-eco system coins, virtuals which is the #1 coin on base displaying a bottom is a clear sign