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Memes & Dreams 133 ⛅️ A Summer of DOGE
Recorded: June 27, 2025 Duration: 1:04:40Space Recording
Short Summary
In a recent discussion, crypto enthusiasts explored the current state of meme coins, highlighting a stagnant market cap of $50 billion and a decline in major tokens like Dogecoin and SHIB. The conversation also emphasized the potential for growth through DeFi integration and strategic partnerships, as the community anticipates a resurgence in meme coin activity this summer.
Full Transcription
Thank you. Thank you. Hey everyone.
Alright, I'm gonna get the song playing here.
Oh, actually, I don't know.
Should we play the song since everything's changed?
Probably not.
I need to make a new song.
Let's just play it for old time's sake.
Bass, arms, lows, and palms. Yo, Do-J fam, gather round the space.
Memes and dreams, we're setting the pace.
No chains to bind bottom just hearts that roam
don't change family this is on the mic or is it rich it's cool nicole's got the handle she's
for us all our bands in the music's flipping every take james smacking truth makes the market shake
to the stars we're breaking them all you're only good every day that's the code we hold like the fire and trees feel the
fighting the spark heels got the light okay just coin it's a movement alive agencies
she's deaf it's true this guy
if you had to doge it's more than grinning it's a fam it's a vibe where the dreamers
begins husky's in the chat he's got the flare she's popping off um numbs in the air chain
free we throw no gatekeepers here love for the means and the vision's clear beams like the fire dreams Oh, my God. I love it every night. I know that 85's we're all in thick.
Amazing change, we're on the brink.
Oh, my God.
I'm gonna take it to the eyes.
Don't you step into the sky?
Oh, no, hey, no gate.
Just open the door.
Our van's got the push.
We're debating for more.
Give me news in the five. Can up step a spin.
Pandas bringing laughs.
Let the good times be dead.
Oh, she's the heart.
It's the love we share.
Every shade, every dream.
We're all there. Oh
She's deaf he's do the sky is
To enjoy the crew Yo, how's it going everybody This is live Go-Save Family, where the dreams come from.
How's it going everybody?
Everything going good on this Friday?
Hey Nicole, Lucasit.
Hello and welcome.
I think it's your first time here. How's everything going guys?
You muted me. You muted me before the song was over.
Yeah, that was because the quality was actually the worst it has ever been until now.
I don't know what was happening it was just catching some you know like bitches and some words and not others it's really weird but yeah I
unmuted everybody now sorry about that it was uh yeah GM GM bro my first time
here bro welcome yeah thank you bro.
So interesting week, pretty flat out for memes.
I'm just looking at the charts here for the meme fight.
And the entire market cap we started last Friday like at 50 billion market cap.
And now we're at 50 billion market cap and now we're at 50 billion market cap so
it was pretty much uh some ups and downs in between but nothing uh major uh major coins that
uh are like at high market cap in the billies haven't really made any significant movements last week. Doge is like 1% down on the weekly.
SHIB is same.
Pepe has had a little bit of trouble.
It's at minus 6%.
But everything is holding up pretty well.
Considering the market has been like apart from bitcoin everything has been going to
in the last uh in the last i don't know maybe three four months now since april uh even before
i don't know all haven't seen any good action for uh for quite a while now. It's becoming really, really challenging for people
and especially for community meme coins.
Community meme coins are struggling
because we're waiting for...
There's no secret about memes.
We're in it for the speculation, we're in it for the moves,
we're in it for the community,
but if the price action just doesn't follow it's uh
it's challenging for communities to persist and thrive how are you guys doing by the way
how is everything going for you on this week
it ain't good bro are you here are you rocking
are you rocking am i no no i can hear you you can hear me as well
oh yeah i thought you were asking a question how how's the week going about there bro
yeah yeah how was your week there some there's some good gainers on the weekly, but nothing really.
That can be said that that has stood out to make any significant movement currently.
But still, you know, we keep on keeping on with the meme and uh
i guess an interesting thing that we can say is that pump fun is uh you know still gaining some volume
so it's not completely dead yet so it's interesting and uh but apart apart from that everything has been like uh uh in in in limbo
uh there's not much movement to the upside for anything uh there was a huge drop last week for
most l coins and we haven't recovered yet from there so So, Yeah, I think it got a little bit of recovery.
I think the Bitcoin, ETH and every other coin
goes a little bit up now.
I don't think,
you see that on the charts?
Well, we saw that, yeah,
Ethereum managed to come back from,
like it dropped from the levels that we're seeing now to
like 2100 or something like that and slowly but surely i can hear you bro yeah i can't i can't
hear you you're cutting out can you hear me guys nicole okay i can't hear? I can hear you. I can hear you Ivan.
So yeah, we saw some price action on Ethereum, but it didn't really manage to give any momentum
to the altcoin market because we're still struggling at this level at 2400. It's still you know it doesn't just it just doesn't break out the we if we managed to break
out out of the 2800 like uh what was it like a couple of weeks ago then then it would be
interesting but that the the fact that we we hit that uh resistance and we got rejected from there uh it everything just uh continued to go down
and uh of course there's the the threat of uh of another war in the middle east
uh war no war tariffs no tariffs all the time it's something else and uh the uncertainty is adding to to the fact that
nothing is uh is actually getting a move on and try to catch momentum hey penny welcome man
how's everything going uh pretty good how about you guys okay it's friday so we can be happy about that at least yeah for sure man and uh it's also well
it's not uh the first of july yet but canada day's on uh first of july so we're like it's kind of
messed up because that's on a tuesday um but a lot of people are taking off like the monday here in
canada so it's like an extra extra long weekend
oh yeah four day weekend that's pretty cool man yeah that that's a given in europe everybody does
that if the monday is uh if the tuesday is like uh a huge holiday or something like that you will see like maybe 30% of people show up for work on Monday.
Most of the working force will just, you know, collate the weekend to the Tuesday.
Yeah, it's been incredibly hot here.
It's like 40, it's been like two, three days, 42, 43 degrees Celsius.
I don't know how much that is.
That's nuts.
It was like that here for a bit.
Like our temperatures had the feels like, you know, temperature reaching that range.
But it actually clocked in, I think like 36 or 38.
And it was breaking records for us as well here in Canada.
And yeah, like it was just records for us as well here in Canada and um yeah like it was just it's been nuts and then uh we just got a big dump of rain so that cooled everything off and we're
gonna get rain for a couple of days so it's actually that's the only relief that we're
getting right now but it's so crazy that this is happening so early in the year like the season
summer is technically not started yet, is it?
Yeah, yeah, you're right.
These are like mid-July temperatures.
Nothing like this.
Usually, like May was already breaking records above the 30s.
But now in June, we're above the 40s, and it's just crazy.
And I don't care.
Everybody has AC here.
But the further you go into Europe, like north, like in Belgium, the Netherlands, etc., nobody has an AC there.
Because you usually don't need it.
You have maybe five days in the in the year above 30 30
degrees so nobody has an ac and now they're like oh my god they're dying people are dying from uh
from heat strokes and and stuff so uh they have nowhere to uh to turn actually they have nowhere
to go to uh to hide you can go like can go in a mall or something like that.
But still, you know, go home.
There's nothing, you don't have a way to cool yourself off.
And you sleep like at 35 degrees Celsius.
It's not good.
Yeah, the only way I've found to beat the heat in that situation is to actually uh go go uh
go to the park under shade and uh or even camping you'll find you you'll find that you get cooled
off a lot uh better than even like going into some of these uh cool off centers and stuff if you have
them if you have access to them and i know that's an issue
here in toronto now they're like the uh the mayor of toronto is trying to get those back up and
running now because people are literally dying as well people who don't have air conditioning in the
city and stuff and uh they have nowhere to go to cool off so they're making that like a huge issue
too but i've always found like just go to the park if you can, if you're, if you're mobile enough to do it. Definitely, man, it makes a huge
difference actually, the greenery because, uh, it's like the asphalt much that it just sustains the heat.
It's like a furnace.
The concrete jungle, it just gets hotter and hotter by the minute.
But when you go to a park, the shade plus the fact doesn't doesn't accumulate heat like uh like
concrete does it just helps around and uh it's a good way to uh to to cool yourself off get a bottle
of water splash yourself in the head and uh yeah stay safe be careful i haven't gone out like apart
from like getting some groceries around the corner.
It's just, I don't know how my wife does it, man.
She goes like on, uh, uh, on, uh, well, on construction sites to, uh, to do some, uh, some surveys, et cetera.
It's just, it's crazy.
Although they don't, they don't work after 11 a.m.
After 11 a.m.
Everything closes, uh, like every, everybody that's working outside, they, they stop working. crazy. Although they don't work after 11 a.m. After 11 a.m. everything closes.
Like everybody that's working outside, they stop working. There's like a mandatory
work stop after that time because it gets too hot. Imagine being like a bricklayer at the fourth floor and get a heat stroke on 45 degrees
in the sun. It's insane. So yeah, those types of labor are restricted to 11 a.m. After that,
they can't work. So they go like to work at 5 a.m until 11 it's not it you know it's not optimal but
at least safe for the people that's that's pretty crazy man uh they they like people i think if we
had that here people would flip out um but like the majority of my family works in construction
so they like they're quite used to those working hours and prefer them anyway.
Like it just,
it works out much better because then you don't have to deal with traffic.
And if you're working for yourself and,
and whatever,
then,
you know,
that time lost driving to and from location eats in big time to what you can
build out.
Right. But yeah, it's like, yeah, totally. It's crazy that, eats in big time to what you can build out, right?
But yeah, it's like
yeah, totally, it's crazy that
it makes more sense to do it during those
hours.
You're way more efficient.
Yeah, for sure, man.
But people
that don't have
AC, there's not a lot of people that don't have
AC in these parts, because it's usual that it gets hot.
So almost everybody, but people that don't have AC, they can't go to sleep super early because it's so hot.
Even if you open the window, it's like you're getting the hot air inside.
So you need to wait till like 1 2 a.m. Before
It gets bearable to go to sleep anyway
So yeah, I don't know it's
It's fucking hell man these these last couple of weeks have been
Have been really hellish here
But yeah, what do you guys think?
Summer of Doge, I guess, you know, in the last couple of years, we haven't seen any good
summer regarding price action or market movement or anything like that.
Nothing really positive. that is but uh what we've seen is the def since the defy summer actually which was 2019 something
like that or 2020 2021 yeah defy summer 2021 no no no defy summer was before the actual
bull bull market was not it was not defy summer 2021 21 was like the bull market. It was not DeFi Summer 2021.
2021 was like the bull market.
DeFi Summer was like the advent of the sushi swabs,
the uni swap, eardrop, etc.
That was like during the start of the bull market
before even COVID or something like that.
Let me check.
I can see.
I'm almost in front of the computer. I can check it out.
But we haven't seen like a summer like that,
where we see some really, really positive price action
action since uh since that time let me check
since that time.
Let me check.
this is a good showcase for that this is 2021 ah there it is yeah it's 2020 it was the defy
summer of 2020 had like eth go from uh 120 to 222 to 80 which you know, when you see it on the chart now,
it looks like a small bump, but it was super significant actually in that time because
DeFi had maybe at that point $20,000, $30,000 TVL. And during that 2020 summer that what happened was like, uh,
was it like 2020, 2021 or 2019?
I'm not sure.
Actually I need to check, but yeah, it was super significant for for uh for defy in general because that was when uh
when we actually saw the actual uh product markets fit of the blockchain industry into finances
before that you know we were talking what's defy you know know, what can DeFi do? It's puzzles, it's yield farming, and nobody
actually understood what it was. But during that time, we saw the actual applications of what could
be. And of course, the digital experience was not up to up to par. You really need to dig into the ecosystem to start understanding how it works,
how to loop DeFi strategies from one protocol to another to get airdrops or
farm tokens, then put them into another LP to farm other tokens, etc.
other tokens etc and uh but that was like the the the big summer that that helped uh defy become
what it what it is today and we we take it as a given now uh that you know you can you can take
some usdc borrow some bitcoin uh or take your bitcoin and borrow some USDC, buy a car.
And, you know, if you believe in Bitcoin,
if you believe in cryptos or major assets like Bitcoin or Ethereum,
imagine you're just putting in your 10 ETH, you borrow USD usdc against it and then it goes 3x then you have
to pay uh much less to reimburse uh in in dollars you know because your eath is your position is uh
is much higher in in usdc so uh but yeah defy so it's such an important product market fit for for our industry
i think it's the currently only one that's actually functional and uh that can actually
cater to mainstream users
to normal investors, just to normal people, students to get loans, for example, instead
of getting a student loan at a high rate, you can get like a student loan and pay it
off.
If you have some Bitcoin, etc. It's really the best way you can use a blockchain at the moment.
Of course, there's the memes, there's speculation, there's trading, but DeFi remains like the actual proof of concept
that has actually worked through its way and is growing by the day.
I think there's like, in DeFi, there's like 20, 30 billion dollars locked in,
which is super significant compared to the $10,000 there were in like five years ago.
What do you guys think? Do means have their place in DeFi as well? I know that being speculative,
Do memes have their place in DeFi as well?
I know that being speculative,
it can be very difficult to make sure that your loan,
doesn't just, your position doesn't just liquidate itself.
Even if you borrow like $100 and you put in $1,000
because of the volatility and the downside potential some of the memes that have
in adverse market conditions.
But also imagine you put in like $1,000 worth of Doge
and that becomes $100,000 worth of Doge, and that becomes $100,000 worth of Doge,
and the loan that you got out of,
you needed like 500 bucks,
you can repay it with a blink of an eye.
It won't even mean anything to you
compared to your initial position.
I think it has a frozen card oh sorry yeah yeah go on i was just gonna say that yeah like of course i think it has a place
in defy why not right it's still at the end of the day, a meme coin is still considered an asset.
It's still a token that was created
on the blockchain that should be immutable,
prevent the double spend problem, etc.
And people should be able to trade it.
And I think as DeFi applications mature
and they get quicker and faster, they'll be able to trade it. And I think as DeFi applications mature, and they get quicker and
faster, they'll be able to accommodate, you know, some of the volatility in order to build
better applications. So it's just a matter of time, a matter of tech. But they can already
do it now. And I think that this last, in particular,
the statement coming out of the SEC,
basically stating that meme coins are essentially commodities,
is going to allow for DeFi to start incorporating
or some of the major players in DeFi
and the protocols and apps behind them.
They're going to start to feel more comfortable
incorporating meme coins into the mix, right?
Because, yeah, I don't know.
I just, like, I see meme coins are here to stay.
They should be part of everybody.
Stable coins are not commodity.
They're like currency, right?
They're not commodities.
Like, Bitcoin can be a commodity, stable coins are not commodity they're they're like curtsy right they're not commodities like
bitcoin can be a commodity but uh stable coins themselves i don't think they can be commodities
yeah they tried to push them out like when gensler was uh head of the sec like during the
biden era they tried to push them out the securities which is also ridiculous because
push them out as securities, which is also ridiculous because they don't yield anything.
You know, it's not like you have a promise of a yield.
You're not getting USDT or USDC or any other stable coin.
They're not yield bearing.
It's not.
Now we have yield bearing like RWA stable coins,, what's it called, on those USDY, for example, which increases in value over time.
It bears yield through bonds because it's backed by bonds.
But stablecoins that are backed by fiat or equivalents of fiat that doesn't that don't increase in value
over time it's i i never understood how they even thought they could they could push them as uh
securities at that time it was uh was a ridiculous premise but there was a lot of ridiculous premises
a ridiculous premise but there was a lot of ridiculous premises during that uh sec era it was
extremely uh hostile to to the industry and uh trying to to uh you know innovation and
any anything that that we had uh at that time as uh anybody that was building was considered a fraud suddenly, you know, they listed, I
don't know how many, they took like the top 20 traded coins on Coinbase and they said
everything on this list is security.
Polygon, BNB, I don't know, everything is a security.
So yeah, it was a wild time.
I'm happy to see a lot of that being toned down quite a lot,
which is also ridiculous to see Gensler now saying,
yeah, we maybe went too hard on
it but there was an agenda behind it definitely but I'm happy to see that
that has been thrown down quite a lot which doesn't mean that you know
regulations until we have really stuff written into law.
You never know how they will change things over time and review and revise.
So, yeah, always on the lookout for new regulation stuff that might happen.
new regulation stuff that might happen.
Yeah, man.
No, they did.
They basically came out and said that it's a commodity,
and so it's up to the CFTC.
And the CFTCs come out and said that they consider it a commodity as well.
They compare it to collectibles and stuff like that.
they compare it to collectibles and stuff like that.
So this is why I think Doe GTF is going to be approved very soon.
And then that's going to further solidify that it'll be deemed a commodity.
And then other meme coins will as well
that fit that same kind of characteristic.
But yeah, they've come out and said
they're basically commodities.
Which is, to me, revolutionary
because then that means that quite literally
anybody can produce them, mint them,
on their own accord.
There's no laws preventing anyone from doing so.
And that people can literally mint currencies theoretically
out of thin air now.
And they'd all be deemed commodities as well
if they're simply meme coins.
Yeah, yeah yeah definitely
is it time for doge summer finally can we actually see some action in the doge there's some some
action that's been preparing in the in the, like Litecoin, Monero, have been
doing some movements interesting, whether it's on L2s or just on price action and increasing
holders. It's been interesting. And yet we see Dogecoin has been like struggling at this level we're back at where
we were in like uh when was the the the last big movement in like april may or something like that
2024 it's like a year year and a few months ago and we just dropped back to the 15 cent
level and we're just not moving from there and we needed to move man because
Dogecoin needs to spearhead the rest of the meme coin industry
from what we've seen without dogecoin like showing the way
none of the other like big meme coins are are getting like significant momentum either it
it acts like like a like definitely acts like a like some like a leader in the space and on the market, once it starts rallying, then we see like
SHIB starts rallying, then Pepe follows, then Brett, then With, and everything just goes Because people start getting back into the meme coin trust and start to believe again that it's going to rally significantly.
We really need Doge to make a significant move.
Hello, Habibi.
Hello.
Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello. Hello, Habibi! Salam alaikum! Bonjour, bonjour!
Comment ça va?
No English, I am sorry, speaking Arab.
Quelle est-ce que vous êtes?
You speak English or you don't speak English?
Arab, Arab, no English.
Sorry, I don't think anybody else speaks Arab on the thread out here.
Dogecoin to the moon, Habibi.
Yeah, we love Dogecoin, man.
We're Dogechain.
Yeah. So, as DogeChain, we're trying to make some moves regarding adoption for Dogecoin. It seems that there has been a bit of stagnation regarding adoption.
And the name, it's not that it's dying, but it's been muddled with politics.
And it has a little bit lost its strength, as it was for the OG meme coin that it is and its importance in the markets.
As I said earlier, without Doge rallying significantly, we won't really see other
really see other meme coins do the same because it just acts as a leader in that regard for the rest of the market.
So do you guys think that DeFi for Doge is an important thing for adoption or what's more important? Like my Doge is doing good stuff
for like user experience, et cetera,
because Doge remains like an OG coin with old wallets
and difficult to understand you need a private key, et cetera.
There's no actual uh
stuff that you can do with it apart put it on on uh on an exchange and trade with it
unlike you can unlike you can do with with stuff like ethereum solana sui etc which uh open open up a new ecosystem but that's what that's don't change that's
don't chain opens up a trading ecosystem defy ecosystem for doge where you can actually do
stuff with it you can you know access nfts you can trade on on decentralized exchanges like Quickswap, like ChewySwap, et cetera.
It's what we're trying to do is make it easier to use,
make it have more utility than just, you know,
stack it onto your wallet, wait for it to pump
and then sell it, much more than that.
So you can use it and, you know,
actually access DeFi with it.
Yeah, man, I think it's awesome.
I think it's, that's what, like, you guys know my story.
That's what brought me actually into the DeFi space,
is just seeing the article on CryptoPanic about an airdrop that was happening for Doge
Chain.
And I knew nothing about Doge Chain at the time.
I just said, you know, bridge over 100 Doge.
And I used that as an opportunity to purchase a ledger.
And then I also used it as part of my studies at the time. I was going to school for product management and decided to use this as part of my curriculum or project.
And then so I learned all this stuff using Doge,
and it was incredible.
And I think that's why I believe so much as Doge being like a main catalyst or bridge for normies because I was one too at one point to actually get them into DeFi because I didn't really want to do this experiment with something I didn't like serious, right? Like, that I knew nothing about. Whereas Dogecoin to me seemed more like more experimental, more free and open community wise, fairer hearted, you know and um people looking out for each other
and uh yeah just like to me i saw it as just like like this is the playground to experiment and be
in and um you know what what better place than than doge chain and using doge right so yeah i don't know i think it's just it's essential to
have all these opportunities and this tech that only aims really to enhance uh dogecoin not take
away from it right because at the end of the day i just want to be able to do more things with my doge and and be able to use all the tools available to me
um you know and uh obviously there's risk involved and you have to weigh that risk
and and tech is never perfect so you should always take that uh into consideration but uh
yeah it's you know to have the option right? Like, that's what's awesome.
And I'm, like, I'm super impressed, too, with the knowledge.
Habibi Pini.
Oh, sorry for cutting you off, man.
Yeah, Doge List, you wanted to say something.
Oh, yeah, I was just going to go along with that and say that there's a lot of great things coming
to DogeOS.
And on some of the spaces that we've heard recently, they were talking about how some
of the DeFi options that are going to be coming are going to be done in a way that are...
going to be coming are going to be done in a way that
Yeah, I'm having some technical issues.
You just got muted and unmuted.
Sorry for cutting you off.
Can you hear me now? Yeah, I can hear you now.
Sorry about that. Yeah, I was hear you now. Sorry about that.
Yeah, I was just saying about one of the recent spaces on DogeOS.
They were talking about some of the benefits of the DeFi that's coming to DogeOS.
One of the key things that they're looking to accomplish is to make it really simple for users.
And the user interface being something
really simple and easy and that's what a lot of dogecoin users who are
introduced to crypto that's how many have come into the crypto space is
through dogecoin so it's going to be a great gateway for being able to understand defy to have everything in such a simple
uh easy way to to to for users to to get involved
yeah sure that's definitely one one of the the main uh uh let's see point of frictions we we we encountered because you know when we launched
doge chain a lot of the builders were like old school stuff and they launched some uh some of
them were great but some of them were like pretty much old school with uh with uh very limited user interface and difficult to comprehend.
Luckily, we have QlikSwap, which continuously updates their user interface,
their experience.
They continuously look for new technology and implement it into their platform.
and implement it into their platform.
So, but yeah, the beginning was very, very challenging
to get people to start using the apps
because just it needs some good product design
and product management to pick up, to kick off,
especially if you're catering to uh to users that are unfamiliar
with defy and don't know how exactly it works how everything is uh is uh uh you know interconnected
and everything so uh yeah and uh i i completely agree with the with the fact that it needs uh
I completely agree with the fact that it needs that point of friction erased so that we can
see a better adoption for Doge in general.
If Doge gets better adoption, of course, it benefits DogeChain, directly and indirectly.
But yeah, we did have some, we had lending protocols as well on DogeChain in the early days.
But that lending protocol, I believe, got compromised in some way, shape or form.
I'm still not sure what the status of that is.
But yeah, there's always risk, obviously, in DeFi rate.
But the other really cool thing that I think that people really haven't given enough credit for or to is Yogan making the USDC stablecoin utilizing Dogecoin and actually hyper collateralizing it.
So that was just like, that was pretty amazing right because in effect you could use it the same way as almost like a loan like you're speaking of in DeFi in
the sense that you could you could take a bunch of your Dogecoin and at its present and current rates value, mint $1 worth and have it pegged to that $1.
And then in times of volatility, let's say after it's appreciated, or rather if it's dropped in value, you could reclaim and get more Dogecoin back and use that as a mechanism of DeFi in and of itself too.
So I thought that that was really cool.
And if we could somehow drive that even further, that I think would bring a lot of volume to Dogecoin.
um would bring a lot of volume to dogecoin
a lending protocol is a little bit complicated because of the liquidity it requires to have
up front into the the protocol uh and it uh also requires an infrastructure of several DEXs so that it can use like flash loans to liquidate positions through DEXs.
You know, when people need to eventually get liquidated on DeFi lending protocols because they either oversize their position, they leverage too much of it, they
don't repay their loan or add collateral or anything like that.
That's one thing.
So you need a mechanism to liquidate the positions so that people can get better their, you know,
collateral minus the penalty,
because you get penalized when you get liquidated.
But that's not all.
So for example, for an asset like Doge,
you will at least need a couple of million worth of Doge, not just a couple of million of Doge, but a couple of million worth of Doge onto a lending protocol as liquidity provided by others so that you can put the LTV of the pool to something acceptable above like 40 or something like that ltv is like
the amount of uh borrowable uh assets from that pool loan to value uh ratio so uh it's uh
It's something that actually needs, you know, in our industry, it requires either whales
or VCs, whales that work, like, that cooperate with each other to get that liquidity.
to get that liquidity and or VCs that just see that liquidity in hopes that they will get,
you know, some revenue from, let's say, the lending protocol. Lending protocols get revenue
when people borrow, for example, they charge a fee. That fee is put into a pool and then can be redistributed
to liquidity providers, etc. There are different mechanisms on how that works. Sometimes it's
the chain itself that can cede the incentives for a while to encourage people to to provide some liquidity but all of that is uh is moot uh
if uh if it just doesn't pick up you know it's very difficult to uh to to get a lending protocol
started because initially you need a lot of liquidity providers for it even though it doesn't have like a, um, a lot of, uh, risk to it as a liquidity
provider, there's always the risk that like it happened when the, with that alpha, uh,
was it alpha or something like that lending protocol where the guy just, I think he borked the Oracles
and like stole a lot of the liquidity that was in it.
In Doge chain, there was not a lot.
I think there was like 50, 60K or something like that.
But other chains like BNB,
still like a total like $5 million or something like that.
So there's always that third party risk
and on smaller chains,
unless you have VCs and whales that kind of start cooperating,
it's very challenging to get that liquidity started
on the chain itself. But imagine, that's why we're here.
We're still here trying to build trust and eventually reaching out and maybe soon you know get a lending protocol uh actually working
and functioning in tandem with uh with a couple of dexes that would be uh that would be really cool
Yeah, it would be awesome to get some farms up and running to just incentivize people
to bring liquidity in as well, right?
Because we can organically kind of grow liquidity that way too, if we incentivize people to
want to provide liquidity right
yeah definitely definitely but farms are not always the answer it's really having the liquidity
itself that sometimes is the answer because if you have the liquidity and people can borrow the interest rates go up
anyway so uh if the interest rates go up then it gives you incentives to uh
to supply more etc it's it's a synergy you know between uh liquidity providers and borrowers
uh but the initial liquidity needs to be there and the
infrastructure needs to be there as well so I was really hoping to get that
the lending protocol that launched in the beginning would be
good but that guy was actually a fucking criminal and he disappeared from the place of the earth.
So yeah, unlucky there, but it happens, you know.
It has happened on, I can say with almost 100% certainty that this type of thing has happened on every single chain.
Whether it's small or big we've seen it but when
it's a smaller chain it's the impact is kind of leaves deeper grooves you know
in the scars as we can say so yeahames was trying to join the spaces for a while now and i haven't
been able to see him in the in in the audience because i can't see him i sent him an invite
and i'm not seeing him you see in like the panel like uh the panel for inviting people up and and
booting people off and whatnot yeah it's uh there's some technical issues you cannot see uh
my invite either so uh it's uh it's a weird one for sure anyway we're slowly getting to the one hour mark and i think
considering the the market uh momentum there's not a lot to talk about apart what we already like
spoke about uh what i can say is that i really hope for uh for a reversal for doge uh let me check the charts a little bit i can i can do a a quick uh
ta here on uh on the last month price action what we do see here
see here uh uh there's not a lot of things to talk about to be honest
There's not a lot of things to talk about, to be honest.
This reversal looks good because it seems like we reached some kind of bottom.
But the problem still remains.
Bitcoin dominance is still tracking and it just doesn't want to stop.
I think we're
at some type
cycle high with the
Bitcoin dominance currently.
Check out this
chart. I'm going to post it in the
Jumbotron.
It looks pretty crazy.
I'm opening the
trading view right now.
BTC, D.
Yeah, it's not.
Was that you, Penny?
Yeah, I shared an image or a post.
Hold on a sec.
I'll get it without the comment here.
So, yeah, there's...
Bitcoin dominance dropped quite significantly
from, like, the end of June
until...
What's this?
Yeah, we're back at the resistance,
and it looks like Bitcoin is going above 66 percent uh anytime soon which means that if it goes it breaks uh out of that
resistance like 66 dominance we might see it uh like uh do another significant uh leg up until in the 68% 69 maybe which means that it's not looking good for altcoins in
the in the foreseeable future still for uh most probably the the entire month of july there is
some hope that we reach like a double top where we are currently but if it breaks out of the
66 uh like resistance for um between dominance breaks out of the 66 percent uh we might see it
jump over to 68 69 which means it two things either bitcoin goes up and everything lags or bitcoin doesn't go up
and everything else just dumps which would be the worst worst case scenario
but look at the dogecoin chart on 3d i posted that one as well on the Jumbotron. It looks like we're around the bottom for everything in general,
like altcoin-wise and Dogecoin-wise.
And we're just forming that last little kind of rounding bottom
that's going to shake out all the weak hands first and then uh
you know after we get over this the whole market like even ethereum's kind of looking a little
similar too but like if if you look at the the the moves before it on these charts, it's wild.
And we can assume to at least get on average between 25% to 50% higher high than the previous one.
Because usually you can take half of what the previous cycle move was as a rough estimation
and add that on top, and that should be the target roughly.
Yeah, I agree with that.
I'm not sure.
This chart that you sent, like the three-day candle in the lower week zone,
that's the thing you can make on.
Yeah, it looks, but that depends, you know, I can see this happening.
It's not like I'm against this, but I'm still afraid that if Bitcoin dominance breaks out of that 60 uh 66 and it goes towards a 70 dominance uh we're going to
see uh like doge go below the the is just going to break the trend line on the downside uh we can
see it back at 10 cents or something like that which nobody wants to see but uh it can happen
it can happen the the trend line is not going to be uh like uh a diagonal but more of a flat
uh flat line we're going to try to to uh to to look for some support there. That's like the worst case scenario. And I always like to look at the worst case scenarios,
especially in what's been happening in the market lately.
Because as I said, Bitcoin might go up
and everything else just lags, goes up, but not a lot.
And Bitcoin goes up to 125K and nothing else moves.
So we have the scenario where the Bitcoin dominance goes up to 125k and nothing else moves so the the we have the the scenario where
the bitcoin dominance goes up but also that means that if bitcoin doesn't go up and the bitcoin
dominance continues to go up which that means that everything else is going down and that's not
just not what we want to see. But those are the two scenarios.
And there are some plays that you could use there to put some orders.
Interesting.
Of course, use stop losses if you know how to do that.
Otherwise, I'd advise against playing against the market in these conditions because it can be very very challenging to catch
the right trend here considering but hopefully we see we see just everything go up eventually hey there's also the third uh uh option where bitcoin dominance gets rejected on on the 66
and it drops which means that everything else goes up
but yes you know five dreams sometimes considering that the latest happenings in the markets, that could be
a bit
less likely to happen.
Which is also
for people that like risk,
a good way to bet against
the markets.
Hey,
Ivan, so next week
this space is actually
on July 4th. We cancelled the aggregated for next week, this space is actually on July 4th.
We canceled the aggregated for next week.
So we should probably cancel this one too.
Yeah, of course.
Of course.
We can skip.
Everybody should have their fireworks ready on that day.
And we'll catch you in like two weeks time.
Something like that.
Yeah.
Because it can't even be next week too.
We'll make an announcement just, just in case people didn't see it or didn't hear it here on the spaces itself.
We'll, we'll do an announcement, but yeah, it's, uh, definitely, uh, uh, since even the aggregated gets postponed, I think we should, should uh we should postpone this one as well
everybody should have at least one day especially americans that don't have
many many days in their lives where they can uh you know enjoy vacation
okay guys so on that note yeah uh be careful in the markets you never know what can what can happen
especially with all the macro stuff happening in the background uh it can be very very challenging
to uh to play in this market because it's so unpredictable.
It's so uncertain.
The uncertainty is actually killing everything.
Nobody's willing to invest in large positions
because of that, because of war, no war.
To tomorrow there's war,
but the day after tomorrow, no war. Peace there's war but the day after tomorrow no war peace no peace uh you know it's a
bit uh it's challenging for sure so make make sure you're careful make sure you uh you set up your
your stop losses if you're trading and uh do good do only good every day uh and we'll see you in two weeks time
not next week
thanks everybody for joining
and thanks Penny and Nico
for joining up
and yeah that guy
I think he followed me
I forgot his handle do DogeList or something like that.
Thank you for your input.
And we'll see you in two weeks time after 4th of July,
which means if next Friday is the 4th of July,
we'll see you on the 11th.
Bye-bye. have a great weekend.
Bye everyone.
I forgot the space is in launch on the PC
and I'm not in front.
