BBG NEWS

It is said that Hayden Davis, a name now etched in the ledger of infamy, stands accused-though Bubblemaps, ever the impartial observer, stops short of accusation-of orchestrating a grand ballet of wallets and tokens. Through the intricate dance of Solana addresses, a single wallet emerged, its pockets lined with $50 million USDC, which it poured into the cauldron of Pump.fun. Lo, and behold, it was rewarded with a bounty of 12.5 billion $PUMP tokens at the hour of launch. A sum, one must note, valued at $73 million, making this wallet the second-largest participant in the private sale-a position of privilege, one might say, in this modern-day Potemkin village of crypto.

As I sit here, quill in hand (or rather, keyboard at my fingertips), it appears that Dogecoin is down 2.90% in the last 24 hours, now resting comfortably at $0.0969. This follows a market sell-off as investors-those ever-hopeful, sometimes befuddled creatures-pondered macro concerns like they were trying to solve a particularly troublesome crossword puzzle. Most cryptocurrencies took a tumble on Thursday, despite the equity markets in Asia and the U.S. seeming quite chipper.

Per the weekly chart on Bitfinex (courtesy of TradingView), XRP breached the 200-week MA near $1.419, a price floor that had stood firm since late 2024. This collapse, they say, “flips the switch” from a rally to a prolonged correction. One wonders if the switch was flicked by a drunk economist or a bored algorithm.