Adventures in Meme Coin Land
First substack. $LUIGI $CHADETTE
My journey begins December 4, 2024. I was captivated by the brazen (what looked to me like a professional hit) mrdr of CEO Brian on the streets of NYC early morning.
I was hanging out in a conspiracy room on the clubhouse app just listening in. The wild theories went on for hours, days. Then after some shady pics with clothing that didn’t match the surveillance video, the media announced Luigi Mangione as the prime suspect.
Someone shouted in 40 Acres & a Mule on Clubhouse, “There’s a $LUIGI coin on Solana and it’s running!” Someone else shouted “What? Where? How?” So I took notes… it was on the Solana blockchain, I had to download a Phantom wallet, buy Solana and then buy $LUIGI with the correct contract address.
A few hours later I got around to it and the chart started to go down, so I grabbed about $100 worth just to see. Well, it kept going down. I joined the telegram, became an instant “raider” on X, realized I had now entered the Land of Memecoins.
$LUIGI kept going down then it was up then down. I was obsessed, while learning more about the case and feeling deeply that this is not the shooter. Also learning my way around the Land of Memecoins.
I’m not new to crypto. Bought my first bit of bitcoin in 2020, late to the party but not really late. As an artist, I dove deep into the NFT world during its inception in 2020ish, but I was always an outsider artist and that doesn’t change in Web3.
So back to Luigi…as a frustrated attorney (worked at a law firm from age 19-21), I’m fascinated by this case. Also, I’m a natural remedy advocate and stay away from modern healthcare as much as possible. The light that was shined onto the broken healthcare system because of this case cannot be ignored. This is a unifying topic.
It’s now late March and I’m still holding $LUIGI. I’ve become a “whale”. There’s a whole vocabulary in the Land of Memecoins. Diamond hands are people that can hold and not jeet, which means selling with paper hands. I’m diamond handed.
There’s “plankton, dolphins & whales”. There are “rugs” when all the liquidity is sucked out of a chart and there are “runners”, when it’s just going up up up.
There’s “alpha” and there’s “meta”. Lots of beta males, lol. Alpha is the next runner or project so people can join in. Meta is the next trend. People are getting rich by being & following “KOLS” who callout certain coins that are about to run, with inside information. There are “cabals” that pump a lot of money into projects. Most “whales” hold the '“floor” which is the base of the chart. The big money stays in so the chart doesn’t “rug”. There are winners and losers. It’s like a casino but with better art. I turned $20 into $420 in a few hours on a saturday afternoon at the hair salon by buying $BIGBALLS. This was a coin that was called out by someone I follow that owns a “Bored Ape” NFT, a hand drawn portrait off an ape with pink fur and a fez hat, as his profile pic.
It’s a mixed bag. People from all over the world, creating a community. Yes there are bad actors, yes there are scammers, trolls and larpers. Ultimately, I’m enjoying myself.
Throughout this journey through the Land of Memecoins, I’ve been meeting some amazing people. The Luigi community is dedicated to a fair trial and fair treatment of Luigi Mangione, as well as shining a light on the broken healthcare system.
The Chadette community has been a godsend. $Chadette is a meme coin based on celebrating & supporting the women of web3. Personally, I feel supported and celebrated in the Land of Memecoins. My wallet is pleased too.
Great post! You convinced me to buy Luigi at the time 😁