Ep 26: I joined an early-phase memecoin group as a “normie.” Here’s what happened.

A weird whale departs.

It’s been a while.

The price has plummeted, mostly because a large whale repeatedly sold in large amounts — seemingly to purposefully dump the chart into oblivion. I’m yet to hear a decent explanation of why anyone would do this, especially considering the culprit took a $70,000+ loss on Sunday in their attempts.

The only theory I’ve come across that goes any way toward explaining the attack is that it’s the developer of another coin who Kendu’s ‘Miazaki’ has pissed off somewhere down the line. I suppose vengeance is a solid motivator, even above logic and cash.

Here’s the graph for the past 5 days:

Current price: 0.0001713 (-16.92% since last publication)

Value of my investment: $28,475.71 (+3681.63% on investment)

Market cap: $170.8M

Number of holders: 10758 (+23.7% since last pub.)

Telegram community members: 8282 (+19.3% since last pub.)

The thing about such negative price action is that it causes the “jeets," the weaker hands, to sell in a panic. Just like that, you get the perfect storm — a never-ending wave of sells, nuking the price, and you’re watching lemmings run off a cliff. You hate to see it, and it raises the nerves, but it seems a natural life cycle element of a coin.

My part in all of this remains the same. I don’t make tough decisions. I look around, make sure my 5 ‘marks’ haven’t sold in the panic, and continue to sweat my way through the more dramatic drops. At this point, I reckon the act of selecting these 5 people was possibly the only smart thing I’ve done in this whole series. That said, I have accidentally made a pretty penny by just being here.

I don’t get to spend much time with the community anymore, what with the Telegram turning into an almost illegible, fast-moving, work-focused space. There’s little in the way of funny antics in the last week, and instead, I’m seeing people announcing they’re taking a break for their mental health — or just because they want to touch grass. It should be fine and totally up to the individual to do so, but this hasn’t always proven to be the case.

Kendu is beginning to show up in a few more places.

Recently, when one of the more popular community members “ghosted the chat”, another member actually tracked him down, to the point where they got his real name, found his number, and called him. I’m sure the motivations were pure, but holy shit I’d be petrified to be tracked down like that. It wasn't exactly a pro move in a community that thrives on being as anonymous as possible.

So, that’s it for this chapter. The dream is still very much alive at Kendu HQ. It’s just changed up its dynamics a bit. For a detailed overview of the community, check the subreddit here.

GOBBLESS!!1!,

Ben