For the week of August 18 — 24
Hey Hegends, time for another weekly update! Team Hege has spent the week heads-down focused on getting things done as usual. In this week’s edition, read on to find out why yo yo is such a Hegend, and how we’re sponsoring r/Memecoinhub for an entire month.
Let’s jump in!
Powell spoke, markets rejoiced
In the markets, up until Friday this week felt pretty bleak to be honest, especially for smallcaps in general, and memecoins in particular. Powell was set to speak at the Jackson Hole conference on Friday, and it seemed everybody and their grandmother were just waiting to be fed whatever small crumbs they could get about the prospect of a September rate cut.
Then Friday came. Powell spoke, the markets listened. And apparently they were very happy with what they heard: Stocks pumped. Bitcoin pumped. Both Ethereum and BNB put in new all time highs. Bitcoin dominance dropped. Altseason is ON!
As of writing this on Sunday morning, bitcoin has not yet closed the week. But most likely it will end another week consolidating after the breakout in early July. The price target of $142k remains. Note that this is a conservative price target; it might well end up going a lot higher.
Meanwhile, bitcoin dominance keeps dropping. Meaning the big altseason is still in play. At some point during the next couple of months, dominance will likely bounce. This could be because the whole market corrects, or because bitcoin sets off on its next leg up. Looking at the daily chart, 55.5% could be where it finds support. But that’s mostly speculation, as always we'll have to keep watching the charts week by week and take things as they come.
In summary, let’s see how the coming week plays out, but for now everything looks good!
Welcome to the League of Hegends, yo yo!
On Thursday we were happy to introduce yo yo into the League of Hegends.
Yo yo has been with Hege since the earliest days, a true OG in the League of Hegends. On his own initiative, and never for profit, he’s sent over 277 sticker packages around the world, spreading Hege like a sleeper that never stops spinning.
Details about him are scarce, but his username hints at power beyond measure, maybe even enough to split the atom. What we do know is that yo yo keeps the community looping together: walking the dog, rocking the baby, eiffel towering his generosity, Around the corner with every new drop, and brain twister-level dedication that no one saw coming.
Some heroes fight with swords, others with words.Yo yo fights with stickers. He’s the man on the flying trapeze, keeping the vibe alive with every package.And just like the boingy-boing or a loop the loop, no matter how far he travels, he always comes back to Hege. Catch him if you can, but don’t get strung along.
(Thanks to Ollie for the text, and Ponderman for the art!)
Hege is taking over r/Memecoinhub
For the next month, Hege is sponsoring r/Memecoinhub. All throughout the month, our banner will be live across the subreddit, and we’ll have one pinned post per week in front of their 73,000 subscribers.
Our website address is also featured in the autoreply for any new posts.
This is a huge opportunity to spread brand awareness and grow the community, so make sure to drop your best memes, content, and ideas over there. Let’s show them what $HEGE is all about!
Coming up ahead
First off, Hege Dash has been successfully ported to the Solana Play PSG-1! We’ve received the source files, and submission for approval is underway. And that’s not all — a brand-new Hege game is officially in the works as well. More on this next week, so stay tuned!
Second, don't miss the next Hege Hangouts! Come join us in our Telegram Hegequarters, Friday, August 29, at 15:00 UTC (11 am Eastern Time, 8 am Pacific Time).
Thanks for reading
And with that, another weekly update comes to an end. Thank you all so much for being engaged in the Hege community, you’re all awesome!
Until next 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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