Apparently there is some degen Memecoin lending platform that got 9 figs of P&L really quick, a lot of what’s left of the memecoin whales borrowed against their bags & the liq cascades are happening rn on coins like Joe. Apparently a bunch of Mog whales also did this. I didn’t check the chain I just saw tweets about it. Reminds me of BAYC liquidations towards the end of NFTs. Same people behind NFTs made memecoins big. Kind of funny how everything came full circle. Lmao
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