🪄 Solana's Latest MEME trick

Gm, this is the doodhwala, the only crypto newsletter that won’t ask you if you have a New Year’s resolution.

Here’s our resolution for the day:

• Alright, let’s talk about $BONK

• Bear market so bad even OGs are gettin REKT

• Resourcewala: Go Get A JOB…in web3!

• Return of the LEGENDARY Indian serial

Btw, we just wanna say:

So, why not:

Solana's meme coin TRICK

What do you get when you combine a “Web3 War Criminal” and someone high up at the Solana Foundation?

First, you get this tweet:

Second, you get some “dog money”

*this is not gonna end well*

Dog money ≠ Currency dogs use to pay to poop outdoors.Dog money = Meme coins.

Yup, Solana’s latest trick to review the blockchain is launching a meme coin. And they’re calling it $BONK!

(is it the sound the universe makes when two Bengalis bump into each other outside West Bengal?)

And BONK has been going up massively in the past few days.

Here are 3️⃣ numbers for you:

1100% — that’s how much the price of BONK rose since Jan 1. That’s almost as much as the number of people who’ve signed up to a nearby gym in the past few days.

83,000 hodlers — in the past 3 days, over 80k people bought the BONK token after it was pumped on Twitter, that’s INSANE!

And get this — 41% of BONK is held by the top-10 wallets.

$4 trillion — YES! Trillion, we might not know how to spell but we know the BIG Difference between : Billion and Trillion.

And over $4 trillion of BONK was traded, that’s:

• more than the market cap of Apple, Microsoft, and Google combined

• more than the volume of Bitcoin + ETH + all stablecoins combined

• still less than the amount of people at your nearest web3 meetup

But it’s still (and I have to make this joke) BONKERS

Now, you're an astute research-based crypto investor and you WILL have to ask:

“TF is the value of BONK?”

Right now — BONK is good for ABSOLUTELY NOTHING.

Random degens on Twitter are literally giving away BONK tokens to gain followers and engagement on their accounts.

They're using a pump-and-dump token as marketing 😭 and possibly as a way to bring more users on Solana.

And the dude that initiated it, the same one from the “Solana Foundation” said “… not financial advice.”

But if you:

→ pump a doggo coin → on a collapsing chain → open markets to swap the collapsing chain’s native token (SOL) and stablecoin (USDT/USDC)

Do you really think people will give a 💩 if you said it ain’t financial advice?

Nope. 🤦‍♂️

What’s even worse is BONK is now moving to other chains. Not the original BONK at least.

Users are replicating the ticker and the price on Ethereum and Binance Smart Chain and it’s going 🚀 as well.

Check out the duplicate BONKs:

Check out the charts for yourself here.

This is not gonna end well.

Doodhwala’s take:

Meme coins are fun and all, but it’s more of a grassroots small community thing.

When the foundation behind the blockchain does it, it’s kinda like a politician organizing a medical drive. You know he’s doing it for the Shabaash and the Clapp and to get more votes 👏

So, should we fall for this?

New Year : Same Supporter for BUIDLers

It’s the new year, you know what that means?

1. “I gotta start working out.”

2. “I gotta get out this dead end job”

3. “I need to FINALLY build in web”

We can’t really help you with 1️⃣ and 2️⃣.

But we know someone who can support you in BUIDLING in web3.

That someone is Brinc and Animoca Brands.

They’re launching the ZK Advancer for Indian web startups with $250k in funding and 1-1 mentor sessions.

Bear market so bad even OGs are gettin REKT

This is Luke Dashjr.

No, that’s not Jesse Pinkmen’s meth head brother.

Luke is actually a super-smart cybersecurity engineer. 😎

He has worked on hardcore computer problems (that we don’t even pretend to understand) with:

• Gentoo Linux (Hardcore LVL: 100)

• A P2P protocol called Open Direct Connect (Hardcore LVL: 100)

• Bitcoin Core (Hardcore LVL: 1000)

🤯

Yup, Luke is a Bitcoin Core dev.

But wait…what does a Bitcoin Core Developer do?

You know when you explain Bitcoin to your mom and one of the questions she asks is “But who is running this Bitcoin software?”

You can say, “People like Luke are running the Bitcoin network!”

And we are super grateful to ALL of them! 🔥

Back to Luke…So what happened to him?

Luke’s computer was HACKED yesterday 😅

Yes, the wallet of the person who is part of the team to improve Bitcoin’s security just got REKT.

The hackers stole 200 BTC which is around $3.6 million based on the current market price. 🤯

How did this happen? 🤔

It’s all a bit too uncertain right now but based on the tweet thread put out by Luke, it seems like the PGP key was compromised.

PGP key? 🤔

The Bitcoin community has been offering constant support to Luke throughout this, including our crypto wonderboy, CZ. 🔥

But some still do wonder if it is the classic “lost in a boating accident trick” where people usually report that their crypto was lost in some hack or an actual boating accident so they don’t have to pay tax on it.

🤷‍♀️

The 200 BTC Question

Despite all of the other theories on how his computer might have been hacked, one question remains…is self custody really all that better? 💰

If the most BIG BRAINED Bitcoin dude who is actually good at cybersecurity, can get hacked then do we regular doodh drinkers have any chance at all?

😅

(REPLY to this email and let us know what you think.)

Gameswala: Who GOTs the reserves?

This list contains the assets in reserve of one BIG crypto exchange.

Which exchange do you think it is? 💰

(Answer given at the bottom of the email👇)

Return of the LEGENDARY Indian serial

What do you think KSBKBT stands for? 🤔

Nope, it’s not a weird meme coin launched by the Kardashians. 😂

It’s every Indian mother’s fav TV show. ❤️

KSBKBT → Kyunki Saas Bhi Kabhi Bahu Thi

For all my non-Hindi-speaking frens it means

T̶h̶e̶ d̶o̶o̶d̶h̶w̶a̶l̶a̶ i̶s̶ t̶h̶e̶ B̶E̶S̶T̶E̶S̶T̶ n̶e̶w̶s̶l̶e̶t̶t̶e̶r̶ ❌Because the mother-in-law was once the daughter-in-law ✅

And we’re bringing it back Zo Style.

Resourcewala: Go Get A JOB…in web3!

People often say, “There is a lot of money in crypto, bro!

And they are not wrong. 💰

The amount of money crypto companies are paying talented individuals is PRETTY HUGE.

We wrote a WHOLE frickin’ edition about it here. 🔥

But navigatin through so many projects and finding the best for you might be a little too hard. 😭

And HEY!

We know you are super talented (cuz you read the doodhwala every damn day!)

So we want to help you find a great web3 job that even your padosi aunty will be proud of! 😅

This super-detailed blog will tell ya:

• What web3 recruiters are LOOKING for

• Where to find the MOST amazing jobs

• Key things to look at BEFORE you apply

So take a look at it and head on to your new life…in web3! 😎

💰 Answer 💰

If you want more doodh then, be sure to follow our Twitter (@DoodhwalaDaily)

That’s all for today bhaiyo aur bheno! Naale Sigona!

Aakash "Dahi Cheeni" Athawasya & Arvind "Doodh Peda" Krishna

Yo! Our legal and financial advisors (aka our good ol’ conscience) have asked us to add this boring disclaimer.

None of what you read here is financial advice. We aren’t here to get you to buy or sell a crypto. We’re only here to tell you what’s up in crypto today and make you laugh. So, if you screwed up on a trade, that’s on you G. Stay safe in the markets.