IYKYK is short for if you know you know, in other words being in on an inside joke. The expression is used liberally, either when a person really has valuable information about a project or similar, or ironically if a person is sharing commonly known information. However, it seems the GM WAGMI team intends to release an NFT collection in the future. Not much is known about this effort so far, although non-fungible tokens are in high demand among traders and speculators these days.
The words FUD and “Fudder” generally have a negative connotation, with some even going as far to say that those spreading FUD are NGMI, or not going to make it. There is also a $NGMI meme token built on the Avalanche network, which currently sells at a fraction of a cent. Several companies and organizations have gone as far as to use HODL in their company name.
However, one popular theory is that wagmi is a corruption of the word wager, which was originally used to describe a bet or a gamble. Over time, the meaning of the word shifted to describe a person who is dishonest or untrustworthy. Essentially, investors are waiting for the market to turn around and send prices shooting for the moon once again. And, while this can happen at any time, there’s no guarantee that it will. I’m really inspired by the crypto community’s use of the phrase “WAGMI” to encourage each other to stay positive and keep going. It’s a great reminder that we’re all in this together and that we can all make it if we work together and stay strong.
Rocket ships and the moon are now synonymous with cryptocurrency. From another reddit thread back in 2013 comes a post from a self-proclaimed time traveler. The traveler claimed that the world was in a state of ruin because of Bitcoin’s meteoric rise in price.
- The next tweet comes from @ColeThereum, who is the co-founder of the Pudgy Penguins NFT collection and actively tweets about the NFT industry.
- A shill is someone paid to promote a cryptocurrency and with a monetary interest in its success.
- In his tweet below, Ran essentially expresses an opinion that Solana will outperform Ethereum in the 2021 crypto bull market and labels a seller of Solana as NGMI.
- Hence now if you ever hear of a Citadel in Crypto, it pays homage to the meme.
- Since cryptocurrencies are highly volatile, prices have to go down by 10% or more to be considered a real nuke.
- He has a show called Wagmi no kimyo Bouken where he shares the crazy stuff that happens to him.
There is no precise answer to this question since the term “wagmi” is not very well defined. Some people might interpret it to mean “very good” or “excellent,” while others might use it to describe something that is simply “good.” Ultimately, the meaning of the term will depend on the person using it. The crypto community began saying gm to each other during Bitcoin’s previous bull run to $69,000 in middle-to-late 2021. This is because at the time positive vibes were flowing and the market sentiment was positive, which as a result put everyone in a good mood. When you’re feeling good, you want to spread the love to your followers and greet them with a good morning. WAGMI suits social use only, and it doesn’t belong in professional communications.
On Twitter, people now use the $GM cashlet to greet one another, rather than saying “gm”. That is part of the viral aspect this currency may have, as it will stick in people’s minds rather quickly. However, it is unclear if anyone outside of the crypto industry will “adopt” this greeting or even grasp why it is a thing. However, if GM WAGMI can keep growing the community, that situation may change. While the token is gaining tremendous momentum and popularity, its use cases remain incredibly limited today.
Around the time of Ethereum’s successful launch, we saw the beginnings of /biz/ on imageboard site 4chan. /biz/ is the business and financial side of 4chan which today is not really business but is primarily cryptocurrency and meme stocks. I examined the daily posts for /biz/ from July 30th, 2017 to July 14th, and, interestingly enough, the number of daily posts nearly aligns with the price of Ethereum. HODL is an acronym that stands for “hold on for dear life.” It’s a term that’s often used by crypto investors to describe the act of holding onto a digital asset during times of market volatility.
Whether that will happen within the next two months is a matter of debate, although the idea seems to attract a few fans. This can be done to try to price down Bitcoin, or to discourage people from buying it. Sometimes FUD is spread by people who don’t understand Bitcoin, or by people who have a vested interest in its failure. Whatever the https://coinbreakingnews.info/ reason, it’s important to remember that FUD is often unfounded and based on emotion rather than facts. The term “WAGMI” is popular in cryptocurrency communities especially in the promotional commentary of cryptocurrency coins and NFTs shared on social media. The Crypto Twitterverse community is innovative in many ways, including language.
The definition, example, and related terms listed above have been written and compiled by the Slang.net team. Some believe that the concept of WAGMI is designed to keep people complacent. A conspiracy within a conspiracy if you will, designed to keep the nocoiners poor by trusting too much to fate. The exact opposite of WAGMI is NGMI, which stands for ‘Not Going to Make it”.
Artists look for friends, mutual support, and allies, not enemies and rivals. As far as WAGMI is concerned, shockingly, it doesn’t have crypto origins. Rumor has it that it dates back to more than a decade ago and can be credited to the late bodybuilder Zyzz who used to say We Are All Gonna Make It among other memeworthy phrases. Usually it is used in association with reaping financial benefits from NFTs, whether they are bought or sold.
As crypto adoption increases, as innovation continues, and as more people join the conversation, more creative crypto-related acronyms will be created. But whether they will be related to the next bull run, whether they will be related to NFTs and gaming, or whether they will be related to the anti-crypto folks, it’s impossible to say. Nonetheless, we at Phemex will keep you up to date on the newest crypto terminology. For example, one notorious individual who gets ridiculed on crypto twitter is Jim Cramer from CNBC because of his bad takes. In fact, Jim Cramer has made so many poor stock and crypto predictions that investors have created an inverse Jim Cramer ETF to trade the opposite calls of Jim Cramer.
Why do NFT people say GM
It is still trading at over 1100% above its all-time low value, which may spark even more discussions on how the price will “explode” shortly. While $GM may seem like another meme token, it offers a few exciting opportunities for the future. More specifically, its community members see unprecedented marketing potential. Indeed, the main investment thesis seems to revolve around the wide community of people saying “GM” and the role of $GM as the social and cultural token. Per the website, saying good morning is not just about uttering those two words. Instead, it is a worldwide movement to unite people in a supportive environment through cryptocurrency and blockchain technology.
After that, you can create a wagmi client and wrap your app with WagmiConfig. Many of his analysis can be seen in the picture below where he makes predictions that the market has bottomed, topped, or a specific stock or crypto is about to take off or collapse. An acronym typically used in the NFT/Crypto sphere to show comradery with friends in around major good news.
The opposite is paper hands, referring to traders/investors who quickly sell their position when facing decreasing prices. Investors that HODL are said to have diamond hands, meaning they are not prepared to sell their holdings for any price. This probably originated during the Gamestop short squeeze in early 2021 when retail traders caused a price surge of a seemingly low-value stock. It’s no secret that crypto investors are always on the lookout for the next big thing. And, with prices fluctuating as much as they do, it’s no wonder that people are always asking when moon. If you’re new to the crypto world, you might see the acronym NGMI and wonder what it means.
FUD Example 2: FUD’s Usage in NFT Project Names
Or, you could use ‘WAGMI’ in message boards and forums when referring to right-wing extremists. Since many of the ‘investors’ in $GME and $AMC were crypto enthusiasts, the term spilled over into the crypto world. Similarly, NGMI refers to when a trader doesn’t have Diamond Hands and is thinking of selling because of a dip or to lock in profits without waiting for them to get bigger.
Before his passing, Zyzz would post videos, using a catchphrase ‘we’re all going to make it.’ The influencer was a source of inspiration for new bodybuilders, with his fans dreaming of owning his physique. However, after the GameStop and AMC ‘short squeeze’ of 2021, the term moved into the crypto community as a statement of support. The acronym ‘WAGMI’ stands for ‘We’re All Gonna Make It.’ It started as a motivational statement in the bodybuilding community before moving into an inspirational message for cryptocurrency enthusiasts. He is a gentlemanly, charming, smooth, charismatic and overall funny but really weird guy. He has a show called Wagmi no kimyo Bouken where he shares the crazy stuff that happens to him. If youre his friend you better keep him forever because people like him are hard to find and harder to keep.
After DOGE had its huge run, it stands to reason that another meme dog coin would take its place. SHIBA INU has made an incredible run and has become the 9th largest market cap coin at the time of writing. This meme came out during the start of the COVID downturn in the market.
For instance, after a particularly bad day in the markets, you may read something like “Are you going to buy the dip, anon?” It’s simply a way of speaking to the “silent majority” and has a slightly derisive connotation. A pleb or normie is simply a person with little or no knowledge of cryptocurrencies and an average income. Sometimes, a pleb can also be a knowledgeable crypto investor that richer investors take advantage of. LFG is short for “let’s fucking go” and is really only that – an expression of excitement. For instance, you may be inclined to tweet LFG if you BTFD and the price of the coin you bought increased significantly.