📈 Hunting for Relative Strength

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.