SEC Waves White Flag, XRP Pumps 10%, & Raydium Fires at Pump.fun—Bull Season or Bluff?

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Hey degens, welcome to your weekly chaos report—where altcoins surge, memecoins crash, and the SEC apparently sips tea and backs off.

1. XRP: The SEC Folds; Ripple Celebrates

• What Happened: Ripple CEO Brad Garlinghouse dropped a bomb, saying the SEC’s ditching its appeal in the XRP lawsuit. That case has raged on since December 2020.

• XRP Price Reaction: Immediately spiked ~10-11%. Currently at $2.52, up 11.93%. Hype about a potential XRP ETF approval is swirling.

• Why It Matters: It’s not every day the SEC steps down. Garlinghouse calls it a “resounding victory” for crypto. Maybe we can all finally exhale, right?

Degen Take: If you’re an XRP maxi, crack open the champagne. If not, you might want to keep a side-eye for that rumored ETF, because you never know when the next bull wave hits.

2. Bitcoin & Co.: Mild Gains Except BNB

• BTC: At $84,012 (+2.51%). Traders see a $10B “deleveraging event” in futures as a potential reset. Could prime the next big rally, or might just be a catnap.

• ETH: Surging 6.95% to $2,025. Probably enjoying less regulatory heat and that sweet post-merge glow.

• BNB: Down 2.83% to $610.19—the odd one out. Possibly overshadowed by all the SEC drama and alt surges?

• SOL: Up a spicy 7.03% to $131.53. The chain remains in the thick of dev drama, but price watchers aren’t complaining.

Degen Take: This might be the “shrug” phase—everyone’s waiting to see if real bullish mania arrives or if the macro gloom resurfaces. Keep your eyes on the next big moves.

3. Raydium’s Pump.fun Clone: “LaunchLab”

• What Is It: Raydium introduced LaunchLab, a spin-off of Pump.fun (that Solana-based token factory for memecoins).

• Features: Teams can pick how a token’s price changes—linear, exponential, or logarithmic. Also, third-party apps can tack on fees.

• Community Reaction: Divided. Some see it as a competitive step against Pump.fun, especially since Pump.fun was funneling a chunk of fee revenue to Raydium. Others say more competition = good for users.

Degen Take: If you’re big on launching your own meme empire, LaunchLab might be your new toy. But let’s be real: memecoins remain a “touch at your own risk” zone. Just ask anyone who got rugged by the latest meltdown.

4. Memecoin & Market Check

• dogwifhat (WIF): Up 8.19% to $0.50. Keep an eye on insider shenanigans, though.

• Popcat (POPCAT): Soaring 10.67% to $0.20. Because apparently cats + memes never die.

• SHIB: Up 2.47% to $0.0000128. Quietly ticking along.

• PEPE: Up 8.44% to $0.0000074. The frog refuses to vanish.

Degen Take: Meme mania is alive, but remember: not every pump is your friend. If you’re playing in these waters, keep an exit strategy. Or a sense of humor. Preferably both.

5. The Big Picture

• Deleveraging: A $10B futures OI drop could be bullish if it means the market’s done with insane leverage.

• Regulatory: With Ripple’s big W, are we seeing a more crypto-friendly U.S. environment? Possibly. Or maybe this is just a reprieve.

• Trends: Spot demand is still iffy, stablecoins keep climbing, and futures volumes remain active. The stage is set for a potentially entertaining second quarter.

Where’s the Market Really Headed?

Between XRP’s triumph, Raydium’s new memecoin toy, and an “essential” Bitcoin futures reset, we’re on the cusp of either a glorious run or another wave of FUD. Keep your seat belts fastened—this rollercoaster’s nowhere near done.

Stay degen

— The DegenDen Team

Meme of the Day

P.S. If you found this newsletter spicier than a half-baked memecoin, share it with a fellow degen!