Zachary Wolk, a.k.a. ZachXBT, called out crypto stalwart Zion Ansem Thomas for fostering a series of memecoin pumps and dumps.
Background
- The blockchain sleuth asserted that if anyone resorts to promoting new low-cap meme coins every few days to followers as a large account, it is because they have “no edge”
- In defense, Ansem questioned, “Why is talking about low caps considered grifting?”
- He further said that talking about memes ain’t any different from talking about projects like AltLayer and Starkware “which are also down 85%”
- Citing examples, he said that WIF from $100k to $5 billion is “way better” than a Chainlink shill that’s down 90% against BTC and making new lows YoY
Why should you pay attention?
- The memecoin season bells seem to be ringing again
- A recent analysis by Kaito AI pointed out that the mindshare for memecoins is currently at a yearly high
- Prominent trader DonAlt warned that Ansem is “just pretending not to understand, he’s smart enough to know what he's doing, his followers just aren't so it's +EV to pretend he doesn't give his fans will love it”
- He added, “No real use in arguing, his followers will never learn and he'll just happily take the engagement”
Who said what?
- The on-chain sleuth asserted,
“Only thing which changed this cycle is grifting as large accounts became even more normalized than before (EX: Ansem)”
- Pointing fingers towards the crypto influencer, he underlined that the market doesn’t move with intensity when it comes to large-cap coin shills
- He added, “When you post about a micro-cap it goes up 2x or more than when you stop posting those coins die out and have entire market cycles within a week”
Zooming out
- Ansem said that he merely takes “the best trades” that the market gives him and talks about them
- He pointed out that people now call him the memecoin guy, while they previously called him the Cosmos guy in early 2022, the DFK and Solana guy in late 2021
- ZachXBT, in return, said that they just call Ansem “Scamsen” now
- Winding up the heated thread, Ansem posted:
