the real panic hits when pepe/ethereum, mog/ethereum, spx/ethereum all start nosediving. institutions are buying Eth, not memecoins. memecoin holders are just looking for an exit in a meta that is quickly losing its magic. not a good combo.
it took 2 years of memecoin delirium for people to start realizing that you can't have a real community when the plan is just to dump on everyone else at some point
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