These tapes are a perfect time to hunt for leadership. More often than not, when the tide inevitably shifts back to a buyer-driven market, the assets that showed strength in a weak tape continue to lead.
While on this recent correction the selling has been indiscriminate, we're spending the next week or two to assess any relative leaders.
Two days into a recovery, we've seen the DePIN and memecoin space show some leadership. Today's note covers a few tokens within these groups leading this strength, as well as providing a brief market update.
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