Partially OT:

Typically, I don't post about s-tcoins, but I want to address one interesting social phenomenon about them this cycle.
A memecoin obviously does not have a value, apart from being just that, a meme.
However, why we see such seemingly outrageous valuations for those: 31bil, 18bil, 4.6bil, 3.6 bil..and on and on.
I think that it represents something, but what is it?
Possibilities:
1. Rejection of traditional monetary values. Something like this: "you, boomers made my life difficult, so to spite you and reject what you think is valuable, I would invest in meme stocks (GME, AMC, etc) and meme coins".
2. Desire to organize into virtual "tribes": the tribe of dog#1, the tribe of dog#2, the tribe of a "dog wif hat" (for f sake!), frog, whatever.
Each tribe has a meme, then probably would have certain rituals, etc.
3. Complete and utter nihilism that translates into "laying flat" and meme coin chasing.

Honestly, this is not what I expected, but it seems where we are.
Certainly, memes have, for now*, the biggest momentum.
I am not buying any, but I am very curious about what it all means going forward.
I also think that it seems that memes distract from the major thesis of bitcoin as being a new form of money.
They are almost a caricature of that important idea.

Bewildered.
* I have a bag of dog#1 from long time ago at zero cost as I took lots of profit during the last super spike.