For the week of August 11 — 17
It’s Sunday again and you know what that means. That’s right, time for a new Hege update! This week the update will be all about merch. First off, there were a few updates to our Hege Merch Store, so we’ll go through those. Then we’ll cover the merch competition that started a few weeks ago and runs for another two weeks.
Let’s dive in!
In the markets, Bitcoin dominance continued to fall
We’ll start off with a market update, as usual.
First half of the week was all smiles on good inflation data, with ETH continuing to pump along with other alts. Then on Thursday the latest US PPI numbers threw cold water on the party, turning the smiles into frowns.
Taking a step back though, the weekly bitcoin chart is still bullish, spending another week consolidating after the breakout back in early July. The breakout is still intact, with a price target of 142k.
Meanwhile, bitcoin dominance broke down below 60% during the week, and then closed the week well below. It has now broken down below weekly support, as well as below the 40 week ema, indicating that the trend is shifting. This is another sign that altseason is indeed on the horizon. Although right now it doesn’t seem to be in any hurry.
In macro this week, all eyes will be on the big-wig central bankers meeting at the US Jackson Hole Symposium. On Friday, Fed chairman Powell will give his comments on the Fed's policy going forward, which will set market expectations for a September rate cut. So we’ll keep an eye on that, and more importantly on how the markets react to whatever Powell says.
Hege Merch Store updates
We’ve been listening to your feedback, and made some changes to make the store better, cheaper, and easier to shop. Here’s what’s new!
🚚 Free shipping now applies to orders over $100 (removed from single-item purchases).
💰 Prices reduced across the store to reflect changes to free shipping.
☕ Mug deal: Buy 1 mug, get 30% off your 2nd mug!
🦔 Plush toys are flying off the shelves!
🎉 Sweepstakes Incoming! A big giveaway is on the horizon — all recent purchases will qualify. Details dropping soon!
Hege Merch competition
A few of weeks ago community member JK put on a Hege Merch competition. Somehow we missed to write about it in the weekly update before (sorry JK!). He’s doing this completely on his own initiative, and paying for it out of his own pocket. Such a Hegend!
Here is JK’s message, with all the information you need:
Hey all, I really love the fantastic Hege merch that PlantFaceAsh and the team has created and love seeing community members out repping Hege! I think it’s a great way to showcase that Hege is a real brand and community, on its way to $1B and beyond. To help celebrate those who have been repping Hege and to help those who haven’t yet buy some Hege merch, I will be sponsoring a giveaway. For up to 10 community members, I will pay for your Hege merch!
To enter, all you need to do is post a picture in the chat wearing Hege merch in public (can cut out, blur face, etc) with the hashtag #Hegetotoe. At the end of August, I will pick the 10 winners with the most reactions on their posts, and will send them Hege after they provide their wallet and proof of purchase. For example, if you bought a $69 shirt and win, I will send you $69 worth of Hege.
The giveaway will run through August to give time for people to order, and I’ll announce winners shortly after.
Can’t wait to see all the great entries and see the community repping Hege even harder as the market heats back up!
Up ahead in the coming week
Our latest Reddit competition ended today (or yesterday, depending on where you are in the world). The winners will be announced later during the week, so stay tuned for that!
And of course, don't miss the next Hege Hangouts. We tried holding it on X last Friday but it was such a hot mess that we decided to go back to Telegram for the time being. So come join us in Hegequarters, Friday, August 22, at 15:00 UTC (11 am Eastern Time, 8 am Pacific Time). See you there!
Thanks for reading
That’s it for this week. We’ll be back next week as usual with anew update. In the meantime, have a great week!
— Team Hege
PS. If you’re not in our Telegram already, get in there! It’s always the best place to hang out and get the latest on what’s going on. Find the link here: https://linktr.ee/hegefund
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