Some people think I hate memecoins. I don't.

Memes are great. They are part of the internet culture.

They are fun, they are easy to digest, and they talk to the masses.

For this reason, memecoins are great for culture and community building.

They unite people around the same story. Memeing is storytelling.

However, what is going on in the market is NOT a "memeseason" or "memecoin season," as some are saying.

What's going on is a pump&dump scheme's season.

Led by a small group of insiders, extracting massive liquidity from "greater fools" who buy into these so-called memecoins not for the story but in an attempt to get rich quickly by hitting the jackpot.

This is a highly manipulated gambling environment, which is not sustainable in the long run (although it works to some extent, short-term), with a reasonably predictable ending - where this small group of grifters gets the money from people hooked by their own greed.

And is this what I can't endorse/support.

As long as a memecoin's focus remain on culture/community/storytelling, I'm fine with it. Once the focus shifts to price pumps and gambling, I'm out.

Litecoin's recent move, for example, was a masterpiece.

They are memeing (in a very smart way) and gathering the market's attention as a consequence of good storytelling work (with excellent timing).

Focus on the culture.

Focus on building communities.

Focus on telling an interesting and easily digestible story.

Stop focusing on price.