Ep 19: I joined an early-phase memecoin group as a “normie.” Here’s what happened.

One of those weird stalker-y episodes, but with added dinosaur.

Straight after I hit publish on the last chapter of this journey, I realized an omission — It’s been too long since I discussed how this community moves and behaves, and what makes it comfortable to be a part of. To explore this a little further — and because the blistering pace of happenings has dropped off — I decided to sneak into a few other memecoin subreddits.

Basically, I wanted to explore whether there is a difference between Kendu Inuits (seriously, I need a collective noun here!) and other memecoin subsets, and if so, in what aspects. Every community claims it is more “unhinged,” “hard-working” and friendlier than the next, but this obviously can’t be the case.

Early on in this series, I outright stated my various preconceived notions about the type of people who get into this scene — “crypto bros”, I believe I called them. And, I noted that the community here hasn’t matched my low expectations. For example, there haven’t been any real instances of real vitriol being chucked out there masquerading as ‘just jokes bro’.

What I found in other memecoin groups I checked, however, has confirmed that this archetype does, in fact, exist. My preconceptions have been validated. However, the only time I’ve witnessed it in the Kendu subset is when the coin pumped ridiculous amounts. To compare, a cursory scroll through similar tokens’ subreddits delivered on my expectations, and fast.

I’m theorising the ‘crypto bros’ stood up and took notice of Kendu Inu right when the token was trending, letting their voices ring out in the Telegram chat. The effect: the overall demeanour of the room morphed instantly, to the point where a side chat I’m in (within the community) became nostalgic for the “good old days” before these crypto bros (CBs) rocked the boat.

These CBs, by what I can decipher, appear to thrive on acting like assholes, then calling anyone out for criticising them as being pussies, woke, libs, fags, or any other outdated term of denigration you care to muster up to fit the bill. What strikes me most is that they’ll even do this within their own community — a subset that actively shares their goals.

It baffles me that anyone would actively work against their interests like that, but I’m delighted to say that Kendu Inu — despite maintaining continuous community growth — has not devolved to partaking in these tropes. The number of participants seems mostly irrelevant to the hive mind they’ve cultivated. They encourage, support, and use endearing terms for each other, like “Chad” and “cuck” (trust me, in any context I’ve seen it in, it’s been intended as a positive). The CBs, conversely, were only interested in playing that role when times were extremely good, immediately renouncing their cooperative mindset and selling at the first sign of hardship.

Hastily drawn conclusion time: Crypto bros are “jeets.”

Trust me, this is scientific.

Now, back to the regular programme.

If I get time to make observations such as those above, it means it’s been calm. No one is panicking just yet, but the price has seen a slow and steady decline over the last few days. Roll out the graph, Quentin!

Current price: 0. 00003196 (-18.84% since last publication)

Value of my investment: $5312.81 (+605.55% on investment)

Market cap: $31.85M

Number of holders: 4112 (+8.61% since last pub.)

Telegram community members: 4670 (+8.86% since last pub.)

I’ll note that I’m unworried by this decline. Nay, I’m even enjoying it. Quieter moments like these allow me to actively hone in on what individual community members are doing. The central players have more time to converse and reveal more about themselves as the Telegram ticker slows to an almost-legible pace. More memes roll off the factory line, Better yet, there’s more magic-line-graph-time. Being as it is that I know nothing about analysing “support and resistance lines,” the work of one community member, whom I know only as Kyle, hits me a certain way.

As I ready this chapter to leave my router and bounce around the globe looking for a reader, Kendu developer Kendu Miazaki is sponsoring and attending a fairly hot club night in Sydney. He could be considered a little rough around the edges, so there’s potential for a few tales from the punchbowl next time out. I’ll try to wrangle him for a catch-up interview and see what comes.

Until then, I intend to continue enjoying the lull, hanging out in the subreddit and Telegram being a wee bit stalker-y and odd.

Cheers,

Ben