Yo-yo, what up? What up?
Good morning, good morning, GMG. Monday, December 16th, 2024.
Four. Four.
Look at that. Another beautiful day to have a
beautiful day. Oh my Lord, in the history of
being. Back.
I don't think we've ever been pissed back.
Tyler. Tyler, good morning.
How you doing today? We've never been backer for than
we are right now and this weekend cemented it and man what
a weekend it it was. What a.
Weekend for Pingus, for all of the ETH NFTS, we are back and
this is going to be a big week. Yeah, it's, it's, I mean, dude,
Gary Vee, bro. Not right now.
Let's go, Let's go. Let's first of the intros and
then get to the cover because we got to talk about Gary Vee comes
back and what does he buy a fucking cool cat?
Do you know the scenes in my household yesterday when that
happened? I mean that that was like that
was like the craziest thing to me.
Like it's like it's a guarantee. There's a lot of people that he
goes back and is bad. The fucking cool cat dude.
That was crazy to me. I thought it'd be a punk, right,
or something like that. Usually to send a signal or
Penguin, mind you, because it does, you know, Penguins coming.
It's 100K. It's kind of a flex, right, Not
kind of it is a flex this stage 150K, but no, a cool cat.
Anyways, so that was that was that was really the highlight
yesterday. Anyways, all right, today on the
show today today. Well, look, we don't have Mendo,
you know he's at the dentist. So for all the Portugal haters
out there, yes, there are dentists in Lisbon.
Boom, OK, and so meddles out Tyler and I in and so we're
going to go through the market quickly.
We had quite the probably a story.
Bitcoin hit another all time high.
It's edging, man, it's edging. We may hit more highs on the
show. By the way, it's 106 K.
So let's talk about this stuff. NFTS are back.
We have to talk a lot about NFTS today, Tyler.
We we got to, we got to do extensive NFT conversation,
especially ahead of Pengu tomorrow.
Just quick question, do you guys have an echo on my hand or is it
me I. Don't have?
An echo. OK, perfect.
Thank you. And then so let's talk about
Penguin everything. Rumor has it, a flight list.
A flight list. Birdie told me that we may have
a massive show tomorrow morning, so we won't go too deep into
pengu today. You know, a, a, a flightless
Flappy Bird. Hit me up but coming on tomorrow
morning. And then last but not least, oh,
there's no last but not least, there's no no guest right.
Sorry. I'm like so out of it.
I'm like so hype. No, there's no guest.
Amazing. So show partners as usual.
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I need to just save these things, man, or just lend them
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Tyler Tyler Tyler Tyler Tyler, let's go right into you here
with the with the recap because I feel like you have a lot to
talk about. Fortunately, NFT and crypto
analysis Tyler T on FOMO our calls the kid came in.
Yeah, for OK, you you let us in Trump's recent strategic Bitcoin
reserve comments are being credited for this latest surge
Bitcoin over 105,000 closing back in on 106,000 and a new all
time high at the same time. His world Liberty five team just
continues to buy ETH D5 tokens Ondo their latest buy and it
seems like all of D Phi on ETH has been pumping in the past
week because of that hype man, the hype is real.
Jumped another 20% on the day to 26.
I think it might actually be closer to 27 now up over 100% on
the week. MicroStrategy made it into the
NASDAQ 100, pushing that stock up over 400.
Also, Michael Saylor, the news came out this morning.
He bought more Bitcoin folks, this time an average of 100,000
and 300. So he just continues to buy.
It's just a weekly occurrence at this point.
And then an interesting headline that I didn't see over the
weekend. Crypto developer activity is
soaring in Asia, which is now home to 32% of total dev
activity in crypto. Guess what those devs favor?
They favor Solana over ETH, so I think that is an important data
point in token AirDrop and protocol news.
Open C registered in the Cayman Islands, sparking wide
speculation that Open C token may indeed becoming folks that
also probably kicked off the weekend.
Abstract announced its main net launch for January 2025.
Mocha versus Mocha token was listened on up at the Korean
exchange and briefly soared 3X to 4 billion before settling
around 2 billion this morning. And then folks, shout out to
myriad, myriad user growth soaring with this pudgy Penguin.
Well, I think 1000 new users live in the program in the
protocol yesterday. So I'd love to see that in AI
and crypto news, the overall AI market cap held steady at 10.6
billion, though most leaders were read except for virtuals,
man virtuals up another 17% to 2.9 billion.
That's leading top AI that's leading almost every alt in
crypto except for hype. I think hype is the only token
on the board that that outperformed Virtual Park coin.
Also it's just an absolute monster ripping another 30%.
I saw the 840 ahead of the show. Memes, AI, Kiki, Mana, St.
Fava, and Zods were top movers on the AI board.
All up 40 to 90% for coin. Leading mindshare.
AI XPT still next. AI XPT is hanging around then
ongoing. Quant continue to lead smart
engagement in memes and NFTS. Meme coin majors were red on the
day. It seems to be just the
continuing trend that closed it down 10 to 20% week Peanuts
owner issued a cease and desist letter to Binance accusing him
violation so he's not happy. Oh my God.
Crazy is so weird. And NFTS, it's all green.
So for starters, $57 million in NFT volume on Ethereum on the
day we just printed, basically the highest week since March of
2024. And even those numbers I don't
really count. Just hit another high.
Yeah, sorry and. So ET volume is cooking.
All the leaders were green punks are even, Pudgies are were
basically even. But everything else down the
board up 30 to 50% or more. Pudgies saw three sales over 100
ETH yesterday, three of the top ten sales of all time.
And then, Oh yeah, Pingu's coming tomorrow.
Oh yeah, baby, do I? Do I get pingo for this thing?
If you scan the QR code. There is so many toys you guys
can't see because these two boxes, there's like 2.
They're like behind each other. There's like so many toys in
these things. It's like endless amount of
toys. I love it.
It's the original toys those. Might be 5 figure boxes.
You're going to have to go through those.
OK, nice. OK, very nice, very nice.
I I'm definitely hoping for that.
That would be fun anyways. All right, Tyler, listen, let's
start with let's start with big daddy Bitcoin here.
Let's start with big daddy Bitcoin here because it's it's
trying to push for another all time high as we're talking on
the show. So clearly something's working.
So strategic reserve, huh? You know what's crazy to me?
It's like the man is still president to be right, to be or
not to be right, That is the question.
But he definitely will be president on January 16th, I
believe, right? And so he's talking about the
strategic reserve, talking about how you know, Bitcoin is going
to be at $150,000 very early in his presidency.
His son Eric pretty sure is his VP of his campaign, right?
Talking about $1,000,000 Bitcoin under his father's presidency.
And the weekends exactly a week from now, we're talking about 92
K Bitcoin Jan 20th. Thank you Joe bites.
So look at this. I mean, who would have thought,
right, That we're at another all time high today.
I know like the like the catch phrase is like, you know, this
time is different is a silly thing to say and you're always
wrong when you say that. But Mike, this time feels
different. We we are entering a pro crypto
American administration where crypto has been shunned and and
actively stepped down for for years and that's about to flip.
It seems like a strategic Bitcoin reserve is very, very
non zero to happen at this point.
And even if it doesn't happen at a national level, we already
have states doing it. So Texas is pursuing it,
Pennsylvania is pursuing it. So that chatter is is growing by
the day and Bloomberg Bitcoin is all over their terminal this
morning really are are Bitcoin. So like the the signals are just
getting so much louder. And if you are a a boomer or
someone who's been sidelined and you saw the 100K number and
you're like, I'll get to it in January.
Now you're seeing 106,000 and you're.
Like. Your heart starts to to race a
little bit. You're like, oh shit, I'm am I
going to miss the move? And like that's where a
potential like Santa rally, FOMO rally can really start to
accelerate. It's like, I know that feeling
because that's where I was in December 2020, because I'd made
the decision to buy, but I was slow and I wasn't like actually.
We have the same story, yeah. And then then you see that 23 K
and the next day is 24K and then the next day is 25 K and you're
like oh God. And you're like, wait, I'm
starting to become late to this thing.
And you're like, wait, why am I waiting for an, an arbitrary
date to start buying like Jan 1st, 2021?
Like, why are you waiting for this like number on the board?
We can just buy it now. That was me in December 2020.
I had done like a ton of research on it.
I was super bullish and I just never bought because I didn't
have the balls to buy crypto until like really late.
Well, I thought it was late clearly.
And I think we fixed that. But, you know, it's it's never
too late to get involved in this industry, which is really like
the big lesson here. And you're right.
And guess what? So 106 K is not enough to follow
them in. Well, they'll love it. 125 K on
Christmas Eve. So yeah.
It's just going to keep. Going so many people are just
racing to to figure out where the top is.
And I think there's there is a very real scenario where like
this is the first like 100K is the first inning in the March to
a million, which is multi year March.
Like, I'm not saying that's going to happen, you know,
rapidly. The waddle to a million
continues. I mean look at this, is this all
time high again? Are we live hitting all time
highs during the summer? A. 106, a hundred and six 180
Yeah, I'm pretty sure we just did again.
Kobe posted yesterday in in the very near future, we're going to
see new all time highs every single day.
Yeah, I mean, that's what happens.
That's what happens in bull markets and I don't think I
think people still have bear market PTSD.
Actually they do because I was talking to a good friend of mine
who was like big ape, like he's crazy.
Like he just apes shit all the time.
And even he was like, oh, but what if I'm like, dude, shut up.
He's like what? What?
I'm like, take that PTSD, throw it out the door.
You know, it's like, I still have that PTSD and I think a lot
of people still have it because, well, because it still hasn't
made a high. I mean, it says 4K is amazing,
right? You're going to love it at $5000
on Christmas Eve as well. But like, I think it's because
of those reasons, right? It's because it's heavily
Bitcoin LED rally. I think if Mando was here this
morning, he'd be talking to us about BTC dominance, right?
So I think it's probably because of that.
But you know, at some point you got to let go of that PTSD and
just, you know, accept the bull market into your heart and your
soul. So I, I, I wrote about this for
the newsletter this morning. I'll share a couple of quotes.
So one just from Trump. These are comments from last
week. We're going to do something
great with crypto because we don't want China or anybody
else, not just China, but others are embracing it.
We want to be that. So like that's his new mantra,
right? He's going to continue to bull
post it. We have Tony Sycamore and an
investment analyst saying we're in blue sky territory here.
The next figure of the market will be looking for is 110,000.
The pullback that a lot of people were waiting for just
didn't happen because we've got this news.
And then I think part the, the most important signal is from
Lucas Schweiger. He's a digital asset research
manager at at bank Signal. He said camp campaign promises
to make the US the crypto capital of the planet might be
viewed as political posturing. But the crypto Advisory Council
proposal, along with the rumors of Trump being several
heavyweights of the crypto industry such as Brian
Armstrong, sends a signal that the new admin is paying serious
attention and sees the opportunities for the US
economy. And I think that is is changing
my mindset a bit too. So I think there was a point in
time where I thought perhaps it was just political posture.
Like when Trump gave the Bitcoin Nashville speech and it was fun
and he ended it with go have fun with your bitcoins.
It's kind of felt like he was there to just appease people.
But but now it, it actually feels much more serious to me.
And like, they are actively meeting with all these crypto
leaders they are appointing, he is appointing pro crypto leaders
to serious positions in his cabinet.
And it, it, it feels like a paradigm shift.
It it. It really does.
Yeah, definitely, definitely. Well, let me tell you something
for the for you were talking about boomers entering the
Bitcoin markets. One thing's for sure, this
morning they woke up and they're entering the Far Coin markets as
FAR coin actually just became the biggest AI coin.
It's out there. I think virtuals are still above
it technically. Oh yeah, I just went off of this
like Cook tweet because I guess there's no virtuals in in that
in that category in there, but. OK.
Wow. 16 Z It did. It's just man, I think I said
this Friday, I don't want. I'm like, I'll keep pounding the
table. That's fine.
This thing gets funnier the higher it goes.
I mean, what a candle this was right?
Wait so someone dumped like $2,000,000 in one clip and then?
2 million, like full stack FSH 2 million, it touched 500 million
and then it just reversed with a $350 million monster.
For 71% candle on the back of it, it's like, I mean, obviously
you it's you can't really catch that right that way.
So realistically you catch it like here, but it's still like
40%. 600 was the buy level all weekend.
Actually, Mando said that to us. Right, he did.
He literally did. That's where you are meant to
buy. Those were his exact words.
Yeah. And if you bought there, you're
happy. And I, I've been thinking a lot
about this, the the cries of our coin being the coin of the cycle
are getting louder and people are starting to believe it.
And my mental model is it does a whiff like run into Q1 where it
goes to 3:00 to 5:00. And if you look at the meme coin
board right now, it is open air between whiff and balk at 3 and
Pepe at 10. So.
That's what we were talking about, right?
So Friday night, obviously we did a little night stream, which
for those of you who asked for more, you're going to get a
bunch this week probably. So like we were like, it was
like, you mean, I mean you hopped in for a little bit, then
Mando and I were like on for three hours whiz KBM and stuff.
But like one of the stuff that we talked about a lot was like,
So what is going to be the next like because it nobody's
dethroned that like Wiff and bonk play yet, right on the
Solana side, like pop cat has that immense trouble at these
levels, like insane, like it's just not, you know, going higher
here. It probably will, but you know
it hasn't, you know, peanut, goat and chill guy, because I'm
looking at the comments still haven't.
And like peanut and chill guy here obviously are getting hurt
by the CND thing. And then, you know, Mando seems
to think goat is the one. Obviously My Portfolio agrees
with him, though. I was kind of annoyed because
like we were on the way to billion the other night and I
don't know why. Like we're back down hammer.
It's like sub 800 million story of this goat bag.
The thing with goat when it rips is gonna RIP.
But like, what coin do you think in chat?
I'm curious what you guys think in the comments.
What's going to be the Solana coin Has to be Solana that
breaks that level, or is it just not going to happen like you
know? I guess the risk perhaps, I
don't know if risk is the right word, but there is a Solana coin
that's probably going to break that and it's Pingu and it's
going to open there tomorrow. So I guess Pingu, I mean Pingu
is trading at 5 billion right now on pre market.
And yes, pre market grain of salt, but it, it did $1,000,000
in pre Market Volume in the past 24 hours.
So that's not 40K in volume, right?
Like that, that's, that's more volume than all the runes did.
So and we and we quote runes market caps, right?
So I think it's going to be volatile tomorrow.
It wouldn't be surprising if, if we open 40% lower than that and
it goes to like 3, even 2.5, you know, wouldn't surprise me.
But I don't think it's opening at a billion.
I mean, at this stage, you know, we can make predictions if we
want, obviously, because I don't think we'll be able to make them
tomorrow on the show, but like, yeah, because it's going to be
live. Wow, all time high dude, come on
I. Want to talk about I want to
come back to E too when when we have a second.
Yeah, let's go. So let's let's just finish this
on, on Pangu because it's tomorrow.
So they announced today, right that it's going to open up with
with finance right off the bat. I think you know, that was kind
of obvious. Like I don't think they would
have done anything smaller than that, right?
I'm not surprised if he'd been against going base down the line
etcetera etcetera, etcetera, which is huge news starts
trading for spot to March 14 100 UTC, which I believe is 9:00 AM
right 14 UTC to 9:00 AM Eastern. So an hour before the show then
obviously we'll all be on the show here.
What are your predictions? So I was saying on on on on
Friday night. So bear base bull.
I want to see comments here from what y'all think so my bear case
is 1 billion open. It's a billion dollars and
anything on their billion. I will be Max bidding at the
detriment of my other bags is what it is.
My my my base case is my base case is is is five bill.
I know that sounds crazy as I genuinely it's $5 billion token
and the bull case. I mean you got to go absurd,
right, because that's your bull case.
It's like $20 billion. You know what I mean?
Like you got to go big. Like, what do you think?
Yeah, I mean, I, I think my my original mindset was like this
could open up at like 500 million and I think people will
be racing to buy at that number, which is partially why I don't
think it really goes underneath that.
I mean, the the bear case is some, you know, bad macro event
happens like perhaps the Fed doesn't cut rates and perhaps
something with weird happens with the drones.
I don't know. But but something shakes the
market and it and it ends up being a bad day to launch, which
I'm not. I don't think that's going to
happen. But that's a bear case.
I think my neutral case is now 2 to 2.5 billion.
OK. Bull case like near term is five
plus and then long term? No, you got a bull case, You got
to go bull Hail Mary. Yeah, yeah, I think it goes
higher than apron did. Yeah.
So what was apron? I went to 26 bucks I forget what
the FDV was at 26 that. Was 26 billion.
Really. Yeah.
OK, what's apron at one 1/2? I mean, so it's apron is still
1.8 billion. Yeah, that's crazy, right?
I yeah, I wouldn't be surprised. How much are Pejic Penguins at
right now, 100 And it's so funny how KBM ripped $100,000 Penguin
the other day on the show and he's still up on like, how crazy
is this market, dude, that you buy $102,000 JPEG and it's up on
the Monday. You don't see that often, man,
that that's a bull market thing, right?
Like, it's pretty wild. This is bull market numbers.
I mean 24,000 ETH traded in pudgies in the last seven days.
So it looks like someone just dumped a lot so that we might be
going a little bit lower just near term, but they're at 32 ETH
right now. So that's.
Yeah. I mean, you're going to see some
retracement on the on the on the Penguin assets tomorrow morning.
That's 125K per per pudgy, which was a number.
Man, that was hard to fathom a year ago unless you were like a
real true believer, right? Yeah.
So my my current hot take, maybe it's not that hot.
I think well, it's going to be volatile.
I think we're going to see the sharp dip when the token comes
out. I think we're going to V shape
and I do think we'll we'll hit new all time highs post Pingu.
All right, well, well, let's see what happens then anyway, so
let's talk about Ethereum, right, Because that's this was
we've been we've been, you know, we've been singing a lot on the
show, like, you know, pay attention, You know that there
was the other asset that has, you know, institutional capital
flowing in besides Bitcoin and it's Ethereum, right, and now
you have, you know, the president to be his team that is
Max bidding on chain. You know, Ethereum Ave.
Ondo. I mean, world liberty finance is
literally an Ethereum protocol, right?
It's literally an Ethereum project, right?
And now you have all of a sudden like these inflows that are
absolutely insane you can find on DJs dot finance.
That's what we use as a tool to track everything, by the way.
But you know, now they're big. So ETH hit 4K yesterday.
Now what? Now what's going to happen?
I, I mean, I think the inflows are just going to accelerate.
I think that that's the bull case for ETH in the near term.
And I don't know, we shared, I shared the bet on Twitter
yesterday. ETH all time high in 2024.
You can get it at 19% right now, 5 to one return.
You need a 20% move kind of like that.
Like, I mean, it's, it's definitely a long shot bet,
right? Like I it's, it's definitely a
dog. But to get a 5 to one return if
he pumps 20% from here with Bitcoin clearly is going higher.
And it seems like the BlackRock has moved on to buying E They're
not stopping buying Bitcoin by any means.
But it looks like, I mean if you look at the EI mean look at this
the flows right like the the last 10 days were the biggest in
history. Yeah, it was, it was a lot.
I mean look at all December like December 3rd 132 then 100 and
67400 and 28831 forty 730-510-2273.
Those are 1,000,000 right. So it's it's a lot by the way,
just FY we we're aware that Twitter's down.
Actually Twitter went down like all of Twitter had an outage.
My spaces still says it's live though.
If you're on Twitter spaces specifically not the broadcast,
give me some thumbs up. If you can hear me 'cause I know
it says it's down for you guys, but it's I'm still rolling here
and also YouTube is always up love Elon, but you know we're
we're live on YouTube every day on the rug video YouTube.
So make sure y'all subscribe to the YouTube because we're live
there. Just look up rug radio.
Look up rug radio on YouTube. We are live there and it seems
going to make a post about it. But let's you know you can find
us on YouTube very easily all the time.
OK, so they can hear me on space.
It's cool. I got some thumbs up.
OK, we're good. Sorry Tyler, just have to fix
this. Yeah, just refresh your Twitter.
It's so funny that Twitter went down the drones.
This is what we do not need right now.
Everything is good. What?
Happens to crypto if all of. If the drones take out Twitter,
we we might see some near term well, actually, I mean the
crypt. It might just be a reminder of
how small the crypto Twitter bubble is compared to this the
larger crypto user base. We just know what we do on a
daily basis. Oh.
My God, dude, Anyway, So what what what we say we were talking
about ETH. Yeah.
So what do we think here? What do what do we?
I think this I'm like kind of shocked that that it's like not
performing well versus Bitcoin here, not going to lie.
But I guess we should have expected that.
We have 10 more ETF trading sessions probably before this
the year ends. If the flows accelerate.
I think we're getting to 4400. Then a moment, yeah, I think
there's a shot we go to all time high.
This is crazy though, like every time you think it's going to
reverse here, Bitcoin just comes in and steps up and just takes
over all the all the attention. There's this like there's this
like bet here, right? Ethereum all time high 2024.
I'm tempted like what? What do they consider all time
high here 04868? Yeah, that's a big number,
right? I can.
I said it was 4600 in my mind. I don't know why.
A full 20% move is is big. Yeah, it's a 20% move.
Is it though like in the bull market 20% move on the major is
like? I mean, just catch on.
Bitcoin's up seven half percent on the week and eats up 1.5.
So no, it's got 6% just to catch up.
Yeah, but I don't know. I mean, of course it's less and
less likely by the day here. Yeah, it's crazy because then
tomorrow, like we'll see like some catalyst and then ETH we'll
be at like 4300 and be like, fuck, it's actually happening.
You know what I mean? Like it's, it's exactly like 20%
is like someone said 20% is like one good day of work in a bull
market. Like that's not wrong.
You know what I mean? Like I, I almost want to take
that bet for fun. You don't have to decide, right?
Like, I almost want to take that market because like, look, $1000
to return 5K I've, I've, I've, I've, you know, I've taken worst
bets, you know? Same.
It's a fun bet it's going to be fun to root for.
I might have to join you on that.
One yeah, maybe we take it fuck it that way it makes something
fun until the end of the of the year.
You know it could make sense of clearly the market is heavily
dictated by Bitcoin here like even Solana, like mind you is
not performing very well right? Like it's just hovering in that
215 region non-stop here. Chop it up a bit.
But obviously like I think hype came in and took a bit of energy
away from the sole, sole trade. Like a lot of people like
trading hype right now etcetera, so.
Yeah, if you look at the flows, there's a lot of salon of money
flowing to hype. Yeah, I mean, it's always like
that, right? Like that's the thing.
And by the way, I love hype. I I miss with trade, but I think
it's the fucking sickest things have happened in crypto this
year. Like one of the best things to
happen And and like I think it's super important to support it,
but like it's always the same thing, right?
Like Tron memes were hot and then everyone moved from Tron to
salon from salon to Tron, then like BSE and then mind you,
like, you know, now it's hype. People will probably stay on
hyper liquid because it got that tool so good.
Have you tried hype? I have, yeah.
It's so good, it's perfect. It's a perfect product.
But you know, I think I think what's going to happen that is
that, you know, the the attention always falls back to
Solana for some reason, man. But Pengu tomorrow, Where's
Pengu? Solana, right?
I'm still bullish Solana. I just had a long conversation
with a couple of trading buddies, a couple drinks on on
Saturday. And I mean the, the, the bull
case for Solana is like, I mean, everything that's happening on
8th is largely also happening on Solana plus plus like retail and
consumers like they are going to slot like that is an objective
fact right now. And it's got depend, it's got
RWA, it's got those sectors. AI is Dom is clearly choosing
Solana. I mean virtuals is on base,
sure. And that's the number one, but I
feel like most of the action in AI is on Solana.
Devs are going to Salana. I don't know, Like I'm not a
Salana bear. Yeah, it's possible to be.
We have the unlocks coming, right?
I think that's probably what's weighing down price action a
bit. Yeah.
And it's also up just a ton from a price action standpoint.
But I mean, I, I feel like Salon's like my home base like
that. That's where I'm mostly back.
That's cute. And.
I don't think that's changing. Yeah, yeah, it's, it's, it's
definitely what's what's been what's what's been going down
anyways, what's so on this question here like on and then I
definitely want to talk about NFTS with you for a little bit.
So what exactly has happened in the United States of America?
Like what's with this drone stuff like I no, this is not
coded. You guys are going to use this
clip. I get it.
I'm already getting like all these meme coins like around
drones, like say I'm coding the whole spaces, but you know, or
or use it, mind you, fuck it, but you know.
So what the hell is going on in the States, dude?
I haven't really been paying attention to it or diving into
the conspiracies much. I think early on I thought it
was just like people misreporting like airplanes and
whatnot. It seems to be more than that.
I've read some theories that it's like government testing
drones because like the the the future of wars will likely be
drone wars and perhaps the US is behind.
So they're ramping up training and they're just doing drone
training in the US Airways. The.
Other day in our chat, right? And you're in there And Dee was
like, no idea. It's not a problem in Ohio.
There's a breaking news right now saying mystery drones over
New Jersey and nearby states. Drones shut down Ohio Air Force
Base for hours. Oh gosh, I just.
Sent that headline to to to these.
I'm like, what did you say about Ohio?
Yeah, that, that's not great. I recommend no more news like
that. Like let's not have the drones
shutting down Air Force bases. Oh, my God.
It's so funny, man.
Like what? What do you guys think is
happening here in New Jersey? So Ways of Wang is in New
Jersey. He's saying here in New Jersey,
jewels are going crazy. Please talk about ordinals.
Yeah. One second.
I'll get to NF TS. I I got you my puppets.
I got you. I still have all my puppets,
fam. One second.
We'll talk about ordinals in a second.
What they are they think someone's saying they're looking
for a nuke. What?
Hey. Oh, chill, chill.
Nuclear sniffing drones. Is that what you guys think?
I don't know. I, I is it bring the a lot of
well, we have a lot of Jersey fam here in the in the in the
chat. So what's going on, man?
I saw a video of motherfuckers like shooting at drones in the
hood. Wow.
Dude, Oh my God, I don't. I don't know man.
Markets are. Totally shaking it off, right.
So like that's, that's a signal to me that it's not anything
serious. Oh my God, dude, that is so
good. That is so good.
I love that anyway, so there's that.
So whatever you guys think is, I don't know you guys, you guys
let me know what you guys think is happening with these drone
situations. I just think it's hilarious.
Yes, they are. Looking for nukes.
Consensus so far is that they're looking for nukes.
So are they like Russian drones? Like what?
What do we think? What?
What do we do? Not feed them.
So funny. Yeah.
I don't know. I don't.
I don't know what's what's going on there.
All right, let's talk about NFTS.
Like NFTS is like it Like we're back.
We are so fucking back. And I mean, there's nothing that
tells you we're back. More to Gary Vaynerchuk pulling
up on the timeline and buying nothing else but a cool cat on a
fine Sunday evening. I mean, Tyler, dude, this is
like, this is like, this is my, this is my Super Bowl.
This is like I, I think I got tagged like 500 times last
night. I was like losing my shit.
Like this is like, this is the best thing to have happened on
the timeline for. I just think it's hilarious,
right? I, I, it's funny.
I, I checked. I found a cool cat in the in a
in a in a cell wallet. I have a cool cat in the faroque
wall. I have a cool cat in the faroque
balls. I have 3 cool cats.
I'm like let's fucking go. So I mean, Tyler, are we so back
or what? I can't believe that we spent
the whole bear market thinking about how this run would be so
different. And it's literally it's exactly
the same. Gary B buys an NFT and then
everyone races to follow him and cool cats pump 100% same thing
at the bottom. And it's a collection that's,
you know, hasn't done a whole lot during the the bear, but
people don't care because Gary bought it, but.
We're not here to. Wait on anyone's parades the IT
was just an incredible day. And I mean, ETH is a $4000,
right? And I remember very vividly in
2021, the biggest concern was like, what happens to NFTS when
ETH goes to 5K or 10K? Like they're all going to get
naked against ETH, right? And now ETH is grinding up.
It's 20% off all time highs and NFTS are soaring in ETH terms.
So we have 6 NFTS that are up 100% or more including RUG
Genesis NFTS up a high. We are fine A. 100% on the day
we've got, let's see here, so only force up 80%.
See the same thing. 75%. The same thing, the same NFTS.
It's all the same stuff that everyone knows.
Look at the top 10. I feel like I'm in 2021.
Pudgy little pudgy Uzuki. I'm not too sure what the V
thing is, I'm not going to lie. Sorry if I sound ignorant.
I haven't followed Uzuki Elementals, cool cats, doodles,
board apes, Mochaverse. I mean that's the newer project
but whatever. Because they ought to listen a
bit so that the token went up like 3300% and beans.
OK, and then what? Pudgy rods, new names, sappy
seals, VIF brands, Parks, Millie.
This is 2021 screenshot right there.
It was so fashionable to think that it was going to be new
collections that would would run in a new NFT market and not the
old stuff. And sorry, it's the old stuff.
And so I think yesterday it was just like everyone's going to
buy everything on the board and hope for like a rebound.
I think like the bigger trade right now is the the next token
trade. So I think that's why Azuki and
Elementals are are some of the bigger movies.
Suzuki's are at 11. I mean those are 45,000.
Dollars. They got anime coin coming
right? Exactly, I think there some
folks think doodles what perhaps have a token I I.
Know too, I think as well, yeah. I.
Have no insight either by the way.
I'm just saying I will speculate that doodles have a token for
sure. I think elementals at 1/8.
I actually looked at those this weekend.
What a trade. The best trade on the board?
Yeah. I mean, you know, you know what
the best trade on the board was. But you know, you do, you do
every, you know, I don't know. How do you say?
Well, that's another one.
So I was telling some some of the homies in the chat like I
really like looking at the stronger communities with lower
floor prices that stayed around during the bear and have folks
who aren't just going to sell the first pump.
So like your MF first, maybe knock Amigos, maybe Kryptos
tempers, like the folks who were there who have those like more
hardcore communities and those those aren't token plays.
Those are more collectible plays.
But I think those I don't know that's I like that lens on this.
I don't know what's going to. Happen from here because I feel
like. The Uzuki move, it's pretty big
at this point though they basically doubled.
Still a lot of open air between 11 and 30.
You probably want to see those. Continue to grind up and
elementals continue to grind up for some of these others to
continue this momentum. I do think people who like who
were momentum trading pudgies are are clipping.
Out 30. Sales, and I think a lot of them
probably rotated down on the board, of course.
Nobody's cashing out, brother. No one's cashing out.
Now's not the time just to cash. Out.
No one's cashing out. Do you know one person?
Around just cashing out. I'm trying to find fucking cash
in my wall in my couch, dude. Nobody cashing out.
It's like is that see, I'm not saying you shouldn't.
And by the way, like then I want to share a post by Flood earlier
saying like, if you've made life changing money, change your
life, But I'm saying I don't know single person right now.
I think cashing out. I wonder so.
OK, so I want my, my, my mental models are fluid and evolving.
So my original mental model was that NFTS would have a pump at
the end of the crypto pump. So I was thinking more Q 4/20/25
that if they're playing out now I'm, I'm wondering are, are we
getting kind of the, I'll call it the head fake pump of from
meme coins Q 4/20/23 to Q 12024 where we saw pretty big pump and
then just totally quiet for six months and then a bigger pump
like is, is that the the set up? I mean, I think I.
Think let's keep it simple. December 2021, 2020 December 20,
2424. Like so far, it's actually weird
how it's like weird episode of like Black Mirror.
We're living like we are like mirroring last cycle maybe a
little further. So I made a tweet right the
other night saying that like board eights haven't minted yet.
And I meant that like I I think maybe Penguin, like tomorrow
morning could be the board 8 mint equivalent of last cycle.
I know it's a coin and I signed FT, but like, I don't know like
there is this, I don't know there's yeah.
I think E Brink just made a really good comment, right.
He said we are getting the old project TG pump.
We will probably see a whole new class of projects that created
in the next year here. Wrong, dude.
Yeah, and people are going to see the.
Money flowing around. Oh yeah, we should launch it.
You have all the AI. Founders now pivoting to crypto,
then you're going to have all the different founders like
everyone's pivoting back like NF TS being back is big because
you're bringing out a whole class of people that got burnt
the most. Like the people that were
trading the trenches. They've been here at 3 cycles, 4
cycles, like they've been around, right?
Where's the people that have conviction crypto, but now all
the MFRS that thought that their NFTS were dead.
We just talked about this, right?
All the same shit is pumping. So the guys that bought Kook at
tennies, the guys that bought doodles the 28th.
I know we're far from there, but these people have that hope
against saying wait, we're at the beginning of this thing.
Bitcoin's 100K and my bag is up. It's another 10X like wait,
what? So all these mother fuckers are
coming back and and I don't think they're going to sell.
They're not going to sell because now.
They are moon boys, they hold this entire time.
If you let me ask you something, let's say you had like 10 cool
cats. You just saw them pomp you saw
these posts, saw Gary post. I'm posting y'all remake my
video attendees. Are you selling your cool cat?
I don't think so. But you're definitely back and
you're going in this way and saying anything going on here or
what's happening or like this whole.
Yeah. I mean, like any use.
No giga, no cool cats. But you know, it's like, it's
like this whole other thing, right?
And we all know, you and I, what's gonna be this Cycles NFT
collection. Do you know what it is, Tyler?
Bats. Cats.
Bats, cats, baby. Bats, cats, you know the vibes,
but you know what I mean, Tyler? It's like we're in this like
paradigm and you know, a lot of people Kelly was requesting to
speak. Fuck yeah, baby, let's get him
on. But you know, you know, I, I
think, you know, yesterday people are like, oh, Gary V top
signal, top signal. No, dude, you don't understand.
Like Gary V is notoriously fucking good.
Hate him or love him Good knowing when to enter a market
and when to leave it crock like 100 mil last cycle.
You know what I mean? Like there's like 5 biggest
winners last cycles like boarding founders, Gary Vee,
Guyer, Siri and Bing. OK, like you know what, you know
what I mean? Or in the open C founder that
left right Alex homie. Good, good, good for him.
I took him from Tier 1, you know, and made a ton of money
and then building nothing. That's what people don't
understand. Gary Vee entering the market
again is a not a bottom sign, but it's a signal that we have
moved to a new inning. Tyler, we have left the first
inning. The first inning is finished.
We are now at the beginning of the second inning.
What do you think of that? Yeah, it's kind of where I am.
I have. People in my replies asking if
this NFT pump meant we were at the top and it's like this is
the first week we've had NFT pump in two years.
Books are not even. Books are 150 K bro.
Not a farming pump, it's. Not that's the thing.
We have to discount everything that happens with Blur because
it was all artificial, It was all shaked.
It's not. Well, now we're maybe forming a
little open sea, right? Like a little people.
Like I mean look. At the numbers like people are
people are still buying on blur because that's that became their
home base. Yeah, I'll look at the percent.
So Open Sea did. What's the website again?
Here I'll send to you. What's the website called again?
I forget. It I I like this dune.
Dashboard. I'll send it to you.
No, there's a website that gives you.
Volumes on all the fucking oh TXOTXO.
TXO. Text welcome.
Let's check it out Kalios, hang tight, baby, hang tight.
I'm coming to you. I but look at that TXO top
marketplace is here. It's blur now.
Holy shit, blur blur is back on top.
So they're they're saying 90. Million that's more than I than
I'm seeing elsewhere, so I don't but but wow, if that's true,
that that's a lot true if real. But that just shows.
You right, so and like is the open sea farming like I've been
buying NF TS on open sea again, but but they were NF TS I was
going to buy. We don't know if there's a token
yet. Sure, there's a Cayman
Foundation. Pay attention if there's a BVI
sub for all the flutes out there.
The Cayman Foundation is a first step to a coin.
The BVI sub? That's the real shit we we had.
Some fun with it. I don't know if it's real.
I mean, I do think like if you're going to buy an NFT right
now, especially an expensive one, it probably makes sense to
buy it on Open C Yeah, of course.
So that's my new. Dude, we're so.
Fucking back. Let me go to Kaleo real quick.
I mean Kaleo, my brother. What do you make of all this?
Where we at dude? First off, I think it's.
Hilarious because even a week ago I remember walking around to
different people at the the rug radio house and asking them what
they thought and the average pulse of the people that are in
there like. And these are all a lot of
people with NFT backgrounds was now they're not coming back.
And I'd be the guy walking around and I'm like, dude,
you're in. And I even I'm not going to name
drop. I talked to people that had
founded collections and asked them, what do you think?
And they're like, it's a meme coin world now.
And I'm just thinking like people have PTSD because a lot
of NFT NM efforts, it's their first cycle that they ever
experienced. So they haven't seen what
rebirth looks like market wide in the crypto space.
And this is such a new niche market.
There are a lot of things we're discovering as far as what the
NFT side of things is going to look like.
Nobody is nearly bullish enough. I've been trying to say like
this is going to be a $1 trillion plus market cap by the
end of this. All people, even at the NFT
space, I, I think I get more shit from people in the NFT
space that I do outside of it because they haven't seen what
this stuff does. So like I just tweeted this a
bit ago. I think, you know, pudgies and
punks, you're looking at the top two NFT collections have a 1 1/2
billion and $1 billion market cap.
That's it. The entire NFT market cap space
is at 10 1/2 billion for the. Total market cap.
Time is one that's like 1,000,000 coin.
Nobody understands what is coming.
And like you can sit there and try to sit there and drive this
vision into somebody's head. But for most people it's like,
you know, Santa Claus seeing is believing.
But like not everybody. Once you hear the little bell,
like you know, The Polar Express type thing when you hop on the
train, whatever. And once you finally say like I
believe and you hear that bell, it is the most beautiful sound
in the world for finally understanding what is coming and
what is ahead of us. So again, nobody is bullish
enough on what's happening. It's been something been
preaching for a long time and I feel like people are finally
waking up. Y'all nailed it with the Gary
Vee thing being first inning. I was in his face last night.
Somebody brought it up and they're like, oh, Gary Vee is
the top signal. And I'm like, you only become a,
you only become a top signal. Just don't come to the Elk yet.
Like people forget that Gary Vee was one of the MF's that kicked
off the NFT. The infamous.
Call with Bangs and fucking Mr. Beast and Logan Paul where he
got everybody fucking buying punks.
Do you guys not remember as much as I don't?
Think, you know, I think he loses a little bit of that
credit from the beginning. And as much as you want to sit
there and say, oh, of course he's still, he's still going to
bring back a bunch of retail normies with him, right?
Like his brand is still. Massive bro, like dude, people
SIM for Gary Vee and the streets all the time you know what I
mean? Like said Gary, like I went to
V. Con last year in 2023, and, you
know, he was still working on his project.
He's building children's books, he said.
Like I'm just not loudly on the timeline.
I'm just going, he announced yesterday.
The tops. Collection, right?
He came back, bought a friend of Tees and dropped announcement
right V friends and Tops are new in cards worldwide.
Just that. Wow, yeah.
So basically. They announced yesterday, like
after buying and stuff, there was an article that came out
that tops and V friends are making cards here.
Tops V friends announced new multi year partnership and then
he said can't wait for 2025. These in every card shop in
America. Like they didn't love it.
You know, it's got me like you know, so that's the thing,
Kaylee, like we're so obsessed in this industry of calling a
top that like people don't understand, like there is like
this thing happening right now and let the record show, let the
record show, you know, pick sorcerer picks on chain.
He he went and did a pool like you did Kaleo, but he did it in
in the Diaz 20 people. He asked twenty of us.
Where do you how far in the bottom do you think we are?
And only two of us called for the stone cold and FD bottom.
It was me and Soul. Jakey Kennedy's in control and
it ain't Justin. And at the bottom, Sorry, B
check. Sorry, Wally.
I'm going to have to call you all out here today.
You can come on the show and talk if you want, but both of
you mother fuckers are the NFT guys and we're the least come
out of conviction in NF TS bottom.
Both of you. Well, it's because NMP guys.
Again, like I said, they they've seen what meme coins can do.
And the other thing about NFTMF is that like they forget about
because a lot of them weren't even here for it last cycle.
Around this time of where we were in the bull market is when
you had shit like safe moon and cummies and all this type of
stuff that we're pumping off. So the memes were there.
The meme memes were there last cycle and they were taking off
in the early innings whenever punks were just so kind of a
mention, you know, a taste on people's tongues.
And you know, at this point maybe top shots started creeping
into people's minds. What is this thing?
But as far as anything else really outside of that, H hadn't
been created right? Like meme coins, pancake swap
were where the action was and everybody said no way, but these
NFT things can do well because they're too illiquid.
Guess what? Same narrative now except for
NFTM efforts are the ones saying it.
I've been trying to tell them no.
Meme coins were the thing that proceeded NFTS last time.
Every single narrative that anybody has ever given last
cycle for why NFTS are bullish. Why is all of a sudden Nah never
mind Like we were, we were wrong.
No, you you. You're a fucking idiot.
You are, yes. Sir, they're going to be back
except for bigger because of anything.
There's more utility, there's more use taste than the VR,
there's better, there's more history, there's more
everything. Some people like they don't
understand how easy it is with NFTS to be able like we've seen
a brief taste of it right now with how little capital
injection it takes to really pump these things off the floor
for solid collections that have survived this long.
So it's like, this is a brief taste and you see how people are
slowly believing and slowly saying maybe, and they're
creeping back into it. At a certain point, by the time
that you decide, man, actually, maybe this shit is back, guess
what, motherfucker, it's too late.
I love this. I love this from that
perspective. Like pudgy is even.
On this crazy run, there's like 15 Solana meme coins with more
daily volume and just like random ones, like not even good
ones, like shitter of the day is seeing more daily volume than
than pudgy Penguins. So I think there's room to run.
Cleo, I have to ask you a quick question and we'll come back to
NFTS You you mentioned the the the comp to to where we were at
in the last bull run. What's your fart coin comp?
I got to get your thoughts. Understand if I lose you all.
For a second I'm popping the car.
I got a dentist appointment I'm running too, so I got to switch.
Did did you hear what Tyler said?
Yeah, I do. I I guess I got.
To take out my air pad pods because it connected to what's
it called? No, you're good.
We hear you, Apple Car. Play.
OK, sweet. So yeah, I mean, here's the
deal. There are so many more memes
that cycle. People have bought in so much
through the idea that memes can have value.
We did not have that last cycle as far as anything is concerned
with, you know, like memes were still just an afterthought.
Wait, can you all hear me? Still no Perfect.
It's perfect. OK, good, good, good.
So yeah, memes were still an afterthought, like they were a
joke. This cycle, memes have finally
been widely accepted to the point of like, OK, we understand
why this has value now. That wasn't their last cycle.
You know, we had the safe moon, we had the commies.
I would call Farkhorn like maybe a commies type thing.
But The thing is not even that. It would be a smaller pump on
the earlier days because look at the relative market cap of these
multibillion dollar memes that have really exceeded what far
coin has done. It's far coin's not even like in
the blip of the picture for something that was relevant last
cycle. That's why I'm saying this
shit's going to be so much bigger than what anybody has
envisioned. Because if memes have proven
what they can do to this point of the cycle and NFTS were an
afterthought, something that people hadn't even considered,
if these are going to be so much bigger than what anybody could
ever possibly grasp or imagine, I don't think that any of us can
really even picture. I can't imagine, you know, how
bullish I am on everything. I cannot.
Picture what the equivalent for this cycle is going to be with a
lot of these historical collections that come back.
We're not even in the phase where we're seeing new men
selected, right? But yeah, part coin equivalent.
No clue, man, because that's the point.
It's not even relevant enough to be a blip on the radar of what
we saw last cycle. It's some random pancake swap
shitter that's dead and gone. OK, well, Tyler, I don't know if
you were ready for that one, but far coin, dude.
They I like the cummies comparison the most, I think,
and I think you know, Mendel and Paul Nord was talking about like
is the cum rocket of the cycle like closer to but we'll see.
We'll see how that one plays out.
It's looking good out here. Wonky stonks baby.
If you want to partake in the kaleo community NFT that's still
have my wonky baby. I still have my wonky.
Otherwise, I'd love that, Kevin. They're not bullish enough on
generative art either. There's a room, man.
There's room 2 Will. Send.
I got two, maybe the ball back. It's all.
Everything is just it's the top you're you're supposed broke.
That's. All I'm going to say, you're
underexposed. It's all just going to run back.
It's going to be so obvious in hindsight.
I love this. I, I guys, I love this.
Listen, it says 1059 we got we're going to have to cut it
short here. We're not cutting short.
It's the left, but we're so bad that I want to stream for like
10 hours straight. You know, I mean like we're that
back like we're like at that level, like this time last
cycle. I mean, no, never mind if this
is December 2020 and not December 2020.
I mean, if this is December 2020, I mean, Oh my God, we're
going to this could be insane. This is December 2020.
I haven't joined yet. This is great.
Think about it. If this is December 2020,
Ragrito is non existing. I'm still on clubhouse like this
is where we're at. Like if you guys like it's many
things like we're still December, Jan that that time
some perspective for you all as we leave you off.
So anyways, big show tomorrow morning as well be joined by
nobody other than Luca Nets. You know, now that now that
Penguin's been announced, we can drop that ball, baby.
So Luka Nets will be on for Penguin hour.
Tomorrow's the big special. I'll post the show mission set
your reminders. We may break X tomorrow morning.
Penguin drops Lucas coming on the show because, you know, you
know, we've got to get him on rug radio and then we'll be
live. So anyways, Tyler, let's keep
going baby. See y'all tomorrow morning,
10:00 AM Eastern Standard Time for the episode of FOMO hour on
rug radio. Let's go.