Some more thoughts on BONER:
Memefi is the most interesting meta happening on Robinhood chain at the moment, but market so far has been focusing on the meme itself - most are underpricing the relevance of the stock which its paired with.
Let’s explore for a second the dynamics of a memecoin paired with Apple stock, a multi trillion dollar company. However much volume the users generate on chain to acquire more and more shares, at the end of the day it doesn’t move their bottom line, not one bit. You can also imagine the opposite end of this dynamic, what if we pair a meme with a low cap stock? The problem then becomes that too little is doing too much - scaling the meme is capped by the illiquidity and volatility of the underlying pair.
But there is a sweet spot, and that’s what I’ve found in $BONER. Here the dynamics are perfectly balanced. You have a fresh company trying to revolutionize the pharmaceutical industry, at $6 billion market cap (PEPE hit over $10b), with a young, tech-savvy target audience. Now the pairing makes sense. The meme plays into the insecurities that draw men into HIMS in the first place, and then creates a community of individuals that are not only playing into the cultural role, but also financially backing the very stock. At $6B, HIMS isn’t a behemoth, but it’s also not a fish. What would a company looking to tap into their target audience think of when they see tens of thousands of them rally behind them in their own fun twist? I’d argue they’d lean into it.
Which then begs the question, what does that mean for the stock pair? What happens when tens of thousands or hundreds of thousands of individuals buying a memecoin in support of the underlying stock start generating significant volume of the stock itself? People begin to dream.
