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GM. This is Milk Road, we're like Costco for crypto, but without the hot dogs. |
Here's what's in stock today: |
Meme season is in full swing 😲 Inflation numbers are here 💯 How much bull market is left? 🐂 New stablecoin: set your own interest rate 🍪
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MEME SEASON IS IN FULL SWING 😲 |
All eyes are on one thing right now… memecoins. |
In case you haven't been following, here are the top-performing ones over the last 7 days: |
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So why are memecoins pumping so much? |
There's a big theory to why, and here are 4 things you should know: |
1/ The Roaring Kitty thesis |
Keith Gill, aka Roaring Kitty, an individual heavily linked to GameStop's parabolic rise in 2021, came back with a cryptic meme Sunday night: |
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And this has every internet sleuth asking… What IS Roaring Kitty's goal? |
The account posted almost a dozen cryptic videos yesterday. This included clips from well-known movies like Avengers to Ocean's Eleven. |
Which had everyone wondering "is it really about GameStop?" or was the message about AMC – a major movie theater chain? |
Regardless of Roaring Kitty's reasons, one fact's clear: Every meme on earth is pumping right now |
2/ Cat memes soared |
Our favorite cryptic video? |
"The dog days are over"-- this sent cat related memes through the roof 😅 |
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$KITTY, which has been around prior to Roaring Kitty's recent revival, was up 12,000%! |
3/ Fed weighed in |
Fed chair Clayton chimed in that this shouldn't even be legal in the stock market… |
But the meme degens are already ahead of him, making Solana memecoins for a handful of stocks: |
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4/ There's a twist… |
Could this all be part of the matrix and Keith Gill actually sold his account back in April? |
Some think so… |
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A handful of accounts started circulating this DM screenshot from April 24th, 2024 with "time to come clean".... suggesting Gill may have sold the account. |
However, a big asterisk here as this account is known for trolling and this post even made it to Reddit. |
Welp… that's enough of meme degen rabbit hole for today 😂 |
🥛 Milk Road Take: When the GameStop saga first began it was a trad-fi revolution against the system and taking on "the man". |
This is the core narrative and ethos for crypto too - don't forget it… |
But these are purely memecoins and don't represent actual shares of a company! |
We want to know, did you jump in on the Roaring Kitty hype? |
A/ Yes |
B/ No |
Hit reply to let us know! |
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INFLATION NUMBERS ARE HERE 💯 |
Ladies & gents, the results are in. |
The latest U.S. CPI (Consumer Price Index) numbers for April came out this morning. |
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Inflation eased slightly from last month. Right in line with expectations and the markets seem to like it! |
Prices of goods are still rising, just not as fast as prior months. AKA the average price of goods & services is 3.4% more expensive than a year ago 🤬
PPI (producer price index) was released Tuesday. Both headline & core PPI accelerated in April from March numbers 🥵 |
Core PPI now at 2.4% YoY, up from 2.1%. |
We have a full inflation sandwich in our stomach to digest! |
While the headline number was in line with estimates, some categories are still seeing big price hikes: |
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And remember, The Milk Road Daily Newsletter: still free
🥛 Milk Road Take: A small step in the right direction, but not yet at the 2% goal of the FED, which many believe will delay the FED from lowering rates.
We don't see it that way. If inflation doesn't continue to go higher (which we don't think it will) then the FED has more important things on their mind (i.e. unemployment rising, bank failures, trillions in national debt).
The FED is sitting between a rock and a hard place - having to decide what is more important: |
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The Milk Man believes the latter is more important and the FED will end up lowering rates sooner than later. They may have no choice 🤷
That said, it's still anyone's guess. Buckle up, it could still be a Rocky Road ahead. (and we ain't talkin' Ben & Jerry's ice cream) |
Note: Remember the news swirling about coffee prices being removed from CPI calculation? Turns out it was just certain packaging sizes, not coffee entirely. |
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50% BULL MARKET LEFT – HOW TO CAPITALIZE 💰 |
We believe that 50% of the bull market has passed. |
We also believe that the remaining 50% can bring the biggest gains for smart investors. |
This could be the biggest opportunity for you right now – and today, we tell you how we play our cards to properly capitalize. |
Tune into Milk Road Radio's latest episode, where Kyle and DeFi Dad show you how to make the most of the rest of this bull cycle. 👇 |
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YouTube | Spotify | Apple Podcasts |
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BITE-SIZED COOKIES FOR THE ROAD 🍪 |
Stryke, formerly Dopex, has partnered with PancakeSwap and SushiSwap to enhance their options offerings and to launch a new governance token, SYK. Holders can convert SYK to xSYK for ongoing yields and voting rights on ecosystem decisions. Check out our review of their platform here! * |
Bitcoin's Pruning: Fees Chop Active Addresses Down to Size High transaction fees following Bitcoin's halving and runes' launch led active addresses to plummet to 3-year lows. As fees spiked over 75% of miner revenue, median costs hit $93 - pricing out casual users. |
Lido & Paradigm Back Restaking Rival of Eigenlayer. Lido co-founders and Paradigm VC are quietly backing Symbiotic - a would-be competitor to major "restaking" platform EigenLayer. The stealth project eyes stETH and unlisted tokens to broaden appeal. |
BOLD Borrowers Get Say with Liquity's New Stablecoin. Liquity unveils V2 with BOLD - DeFi's first borrower-set interest rate stablecoin. The new offer lives alongside LUSD, using liquid staking ETH as collateral in an innovative twist. |
Laser-Eyed CEO: Blockchain to Power All Funds. Franklin Templeton chief touts blockchain's efficiency, predicts all ETFs and mutual funds will migrate for the "single truth" benefits. |
Head & Shoulders Hints at Bullish Bitcoin Breakout. Analysts are eyeing the inverse head and shoulders pattern, along with indicators like MACD and RSI, as signs of a reversal from the downtrend. But the market's mixed sentiment means upcoming economic data could whipsaw prices before any sustained rally. |
Wanna team up with the Milk Man? We currently have 4 positions open – check 'em out and apply here! |
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MILKY MEMES 🤣 |
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ROADIE REVIEW OF THE DAY 🥛 |
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VITALIK PIC OF THE DAY |
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. |
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