Meme Coins, The Ultimate Local Top Signal

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GM Happy Friday! 🍻

This week we crossed 5,000 cousins reading Heinous Pumps and we couldn’t be more excited to continue to deliver absolute digital gold in your inbox. A huge thank you to all the the cousins that have been sharing the newsletter and as promised we have a $100 reward in store for drum roll please…

p******[email protected] (cousin has been emailed already)

Cousin has had 61 referalls in the last week, absolute degen mode

And no, if you were wondering cousin’s blurred-out email is NOT what you think it looks like, get your head out of the gutter

Also for those wondering what the definition of cousin is:

🚨 Important: Last week’s $500 stake raffle has been pushed to one more week of eligibility - the details are in the prior week’s newsletter

Alright cousins let’s get straight into this week’s letter!

As you guys know I have been bullish on BTC and crypto as a collective from November of last year legit at the pico pico bottom, I still remain that way until proven otherwise, but there are a few warning signs that we are due for a short term pullback.

First, meme coins. If you guys follow on Twitter (X) you would’ve seen that I’ve been hellbent on shitting on them the last few weeks. That’s because every time sh*t coin memes run wild we see a local top in the market. Recently GROK went nuclear and randall the way to a $150 million dollar market cap. Even after the founder was linked to previous scams, people were still willing to buy the dip, a telltale sign of entering a zone of classic market greed. It highlights how primitive people are rapidly becoming, typically something we see when the market is euphoric and people believe they are going to make money no matter what. Additionally, multiple influencers have posted wallet addresses to Twitter raising capital for their own memes that they will launch, one of them raising 8 figures in a day (YIKES). Again, another bad sign for the market. When people are willing to throw money at anything it is usually time for a correction and a nice humbling beatdown for those folks.

Regardless of the short-term pullback I expect to see, I’m still overall bullish. The longer we can wait out the ETF approval news - the better. This will create more hype and still leave a lot of speculation on the table because of course there is the chance that the ETF approval was a classic “buy-the-rumor-sell-the news” event.

💡 What I am looking for:

As mentioned in the discord, I’m out of all leverage plays as of a few days ago. I still remain in my spot bags and will look to add to those on a nasty pullback or an alt-coin capitulation. Some of the larger coins I would add to on such events would be Solana, Ethereum, Injective, and Link. I believe these will be some of the best-performing alts over the months to come. My micros cap bags remain the same and will look to add to those on dips as well. These are of course: $CRE $OTsea $AIX $VEIL

I wanted to talk about one more thing. Although I’m expecting a short-term pullback, we have still yet to see true euphoria. The reason is that I still believe the majority of people missed this entire move. This market runs purely on psychology, when others are greedy you must be fearful, and when those same people are fearful you must be greedy - just like muffin man Buffett said. I’m still expecting a banger month leading into the new year and will update you if that changes.

Reminder: don’t chase green candles, make sure you save that capital to enter in on dips. The market is extremely choppy right now. Don’t get caught with your head in the lower time frames. When in doubt zoom out and only pay attention to more clear significant levels.

• Michael Saylor’s MicroStrategy now sees $1B+ in unrealized gains from BTC positions (WG)

• Bitcoin reached its all time high last Friday, $69,044, exactly 2 years ago today (@WatcherGuru)

• BlackRock has officially filed an S-1 for a Spot Ethereum ETF (WG)

• ZachXBT discovers a Binance wallet that was hacked for $27M of stablecoins (BLOCK)

• Indian Supreme Court rejects crypto petition (CT)

• The Block sells majority stake (80%) to Singapore VC Foresight Ventures, valuing the company at $70M (FT)

💸 DOLLAR INDEX - BEARISH

Bias on the Dollar has now become bearish. During this week CPI news came out and nuked the dollar below our bullish monthly FVG, confirming the Dollar will likely seek lower prices.

My first target for the index is the liquidity just below 103.000. I do believe it will retrace further, so once that target is hit, I'll confirm the next draw on liquidity.

💸 EUR/USD - BULLISH

EUR/USD closed far above its bearish monthly FVG. We should see a slight pullback to fill some of the inefficiency left by CPI news, but then continue up for the daily FVG marked out above.

💸 GBP/USD - BULLISH

As I said in the previous weekly analysis, I am not as bullish on GBP/USD as I am on EUR/USD. CPI news sent us back up into the monthly FVG, which really wants to see us start pushing above it this next week, and ultimately move towards the FVG marked above.

Is this even a hot take? Whatever it’s bugging me so much that it has to be said.

Tipping has gotten completely out of control in America.

True story: I lived in Santa Monica, CA and with some buddies went to “The Rose” in Venice (literally no f*cks given we are putting this place on blast).

Here’s the timeline of this insane experience:

• Reservation was at 9 pm, we arrived at 8:50 and they didn’t seat us until 9:40. Already low-key pissed, but it happens so we remain cool and calm.

• We had a group of 6 and after the long wait we were starving. Out the gate they only let us order 2 pies for the table? Apparently, there was a “2 pizzas per table limit” WTF?!

• Annoyed, we ordered our drinks that we didn’t receive until 10:15, you read that right it took us over 30 minutes to just get our drinks. Now we are actually pissed.

• Service continued to be complete garbage and we got the check at 10:40 when workers were giving us the “we’re closing now gtfo look” …’m sorry it’s not our fault you took forever for literally everything

• To our complete shock, we looked at each of the split checks and saw a “LA Health Tax” for 5% on everyone’s checks

• We asked the waiter what the hell this was and after fumbling their words they replied “Yeah, uh it’s an optional tax to help pay for our bartenders and servers health insurance”… trust me when I say I had to pick my jaw off the floor.

• Of course, I responded with

  1. Don’t ever add a made-up optional tax to my bill and

  2. Your employer pays for insurance not us

Now you probably think this story is fabricated, and trust me if I was reading I would too so I have evidence to back it up

Look I’m not against tipping, one of my first jobs was a barback in NYC, there’s a time and place for it but lately, it’s gotten completely out of control. We are getting ipads flung into our faces to tip for $7 Starbucks coffee for God’s sake and these made-up “health taxes” just piss everyone off even more.

It’s gotten so bad in America that there’s even tipping for self-checkouts:

Our degen of the week is U.S. Senator George Santos - what a week he’s had

Now there’s no shortage of S-Tier degen politicians but Santos takes the cake this week with the laundry list of allegations (that are seriously too long to mention). How this guy even got elected is nothing short of a miracle. Please take the time to read his Wiki bio here as a warmup, it’s nothing short of hilarious.

As if his prior allegations weren’t enough, some more breaking news:

Hey we aren’t here to judge, the guy is just blowing off the stress of being in office! Heck, I’m sure his inbox is flooded with degen interns trying to work for him as we speak. Now if only he can dodge these pesky allegations and steer clear of the clink like all the other old goats in office seem to do.

On another note, fellas you think this guy likes pokey wanks? I’d bet my entire net worth plus my unborn son’s tuition. In all seriousness, Santos is a legitimate pathological liar (kinda have to respect it) and is facing dozens of federal charges, including wire fraud, aggravated identity theft, and conspiracy to commit offenses against the United States - this dude has just completely faked his entire life and lies about everything, a pure degen.

Disclaimer: To be clear Santos is not winning Degen Of The Week because of his alleged crimes (we don’t celebrate blatant criminal activity in this newsletter), he is a degen because of his unyielding effort to commit crimes at the pace he has / just the sheer amount of lies this dude has spun up in his career. That is something you have to respect at least.

• Market analysis & gambling daily https://kick.com/cousincrypto 

Please fill this out with comments (we love reading them). Also all suggestions for content we should lean into are welcome!

• Did Someone Say Green D*ldos?

• Are We In A Bull Run?

Written by: Cousin Crypto, Gannon

Disclaimer: Heinous Pumps Newsletter does NOT provide financial advice. All content is for informational purposes only. Heinous Pumps is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses.