Zeke Fox

But it's not just Dogecoin. A lot of the most successful coins have had some connection to Elon Musk.

But it's not just Dogecoin. A lot of the most successful coins have had some connection to Elon Musk.

Yes, because the people who are trading these are watching patterns. And they're saying, hey, last time Elon Musk talked about something, the coin went up. So maybe it'll happen this time. And then that kind of becomes a self-fulfilling prophecy.

Yes, because the people who are trading these are watching patterns. And they're saying, hey, last time Elon Musk talked about something, the coin went up. So maybe it'll happen this time. And then that kind of becomes a self-fulfilling prophecy.

Yes, because the people who are trading these are watching patterns. And they're saying, hey, last time Elon Musk talked about something, the coin went up. So maybe it'll happen this time. And then that kind of becomes a self-fulfilling prophecy.

Something like 99% of coins are dead on arrival.

Something like 99% of coins are dead on arrival.

Something like 99% of coins are dead on arrival.

Right. Like, I bet you a lot of them never sell a single token.

Right. Like, I bet you a lot of them never sell a single token.

Right. Like, I bet you a lot of them never sell a single token.

Right. And Pump.Fun, this platform, in just a year or so, Dune Analytics, which is a blockchain analysis company, says that it's made $400 million in fees.

Right. And Pump.Fun, this platform, in just a year or so, Dune Analytics, which is a blockchain analysis company, says that it's made $400 million in fees.

Right. And Pump.Fun, this platform, in just a year or so, Dune Analytics, which is a blockchain analysis company, says that it's made $400 million in fees.

What everyone wants is that next one that's going to go up 10x, 100x, 1000x. And there are the stories of people who really have made a million bucks because they bought dog with hat early. And when somebody hears that, it's pretty powerful, creates this sense of FOMO. But Dune Analytics studied blockchain data and found that only 3% of traders on Pumped Up Fun ever made $1,000.

What everyone wants is that next one that's going to go up 10x, 100x, 1000x. And there are the stories of people who really have made a million bucks because they bought dog with hat early. And when somebody hears that, it's pretty powerful, creates this sense of FOMO. But Dune Analytics studied blockchain data and found that only 3% of traders on Pumped Up Fun ever made $1,000.

What everyone wants is that next one that's going to go up 10x, 100x, 1000x. And there are the stories of people who really have made a million bucks because they bought dog with hat early. And when somebody hears that, it's pretty powerful, creates this sense of FOMO. But Dune Analytics studied blockchain data and found that only 3% of traders on Pumped Up Fun ever made $1,000.

I mean, I definitely would say this is just gambling. Everyone involved would agree with that, I think. But it's a really weird form of gambling. And oftentimes, by the time that you or I hear about any coin, you know, the insiders have probably accumulated a big supply at a low price.

I mean, I definitely would say this is just gambling. Everyone involved would agree with that, I think. But it's a really weird form of gambling. And oftentimes, by the time that you or I hear about any coin, you know, the insiders have probably accumulated a big supply at a low price.

I mean, I definitely would say this is just gambling. Everyone involved would agree with that, I think. But it's a really weird form of gambling. And oftentimes, by the time that you or I hear about any coin, you know, the insiders have probably accumulated a big supply at a low price.