If you've been feeling a bit off about this crypto bull cycle, you're not alone. It's got that external push from macro factors like ETFs and lobbying wins, but it lacks the wild, internal innovation that made past cycles feel like pure degen fun. Yet, as DeFi analyst Ignas points out in a recent X thread, this might just be crypto's redemption arc—a societal shift where we're finally stepping out of the shadows.

Understanding the 'Externally Driven' Cycle

In simpler terms, an "externally driven" bull cycle means the price pumps aren't coming from groundbreaking crypto tech like we saw with DeFi explosions or NFT booms in previous runs. Instead, it's fueled by big-picture economic stuff: think Bitcoin ETFs launching with record volumes, crypto-friendly policies in the US, and even traditional giants like Visa and Mastercard dipping their toes in. But why does this feel different? Because it's less about us innovating wildly and more about the world catching up—sometimes begrudgingly.

Ignas nails it when he says we're less ashamed to admit we work in crypto now. Outsiders hated on us: banks closed accounts, media called it a Ponzi, and regulators threw shade. Fast forward to today, and crypto lobbying is winning battles. Politicians who ignore us risk losing elections. Institutions like BlackRock are all in, while old-school holdouts like Vanguard and Berkshire Hathaway still dismiss it as "speculation."

Parallels to The Gilded Age

This is where it gets fascinating. Ignas draws a direct line to the 1880s New York elite in HBO's The Gilded Age. Back then, "old money" from land and trade controlled society, looking down on "new money" from railroads, steel, and oil. The newcomers were richer, flashier—building massive mansions and throwing epic parties—but they were seen as vulgar outsiders.

Sound familiar? Last cycle's Lambo flexes and WAGMI vibes were our version of that. This time around, it's quieter, more mature. Crypto natives, with our Pudgy Penguins and CryptoPunks NFTs, are the new disruptors. Meme tokens, often dismissed as jokes, embody this shift perfectly. Projects like Pudgy Penguins aren't just cute avatars; they're symbols of how grassroots, community-driven assets are forcing their way into the mainstream.

Just like the railroad barons, we're building something unstoppable. The EU pondering a stablecoin on public blockchains? That's them admitting they're behind. Forward-thinking players adopt, while the proud old guard resists.

Why This Matters for Meme Token Enthusiasts

At Meme Insider, we see this as a tipping point for meme tokens too. These aren't just viral pumps; they're cultural artifacts in the blockchain world. As crypto becomes the "new establishment," meme coins could evolve from degen plays to legitimate value stores or community builders. Think about it: Pudgy Penguins started as NFTs but now represent that outsider energy turning elite.

This cycle might not have the same fireworks, but it's paving the way for real integration. We're not collapsing like the old money hoped—we're thriving. If you're in memes or DeFi, this redemption arc means more legitimacy, more adoption, and yes, potentially more gains.

Ignas recommends watching The Gilded Age to grasp the vibe, and I couldn't agree more. It's a reminder that history repeats, and right now, crypto is writing its chapter as the victorious underdog.

What do you think— is this bull cycle our gilded moment? Drop your thoughts in the comments or hit up the thread for more insights.