In the wild world of crypto, crashes are part of the game, but the one that hit on October 10, 2025, felt like something out of a sci-fi thriller. Simon Dedic, founder and managing partner at Moonrock Capital, shared his seasoned perspective in a recent X thread, and it's got the community buzzing. As someone who's weathered storms like the COVID market plunge, the Luna debacle, and the FTX fallout over nine years in the industry, Dedic argues this wasn't your typical black swan event. Instead, it smells like a massive technical hiccup—possibly at Binance or a key market maker—that triggered an unprecedented liquidation cascade.

For those new to the lingo, a liquidation cascade happens when leveraged positions (bets on price movements using borrowed money) get wiped out en masse, forcing automatic sales that drive prices even lower in a vicious cycle. Yesterday's event was the biggest in crypto history, with major coins plummeting up to 99%. Dedic points out that while Trump's tariff threats against China might have sparked the initial sell-off, it doesn't explain the sheer carnage across the board.

What stands out? Centralized exchanges (CEXs) like Binance seemed to glitch hard. Dedic tried scooping up bargains during the dip, but the platform froze for 10-20 minutes. Switching to decentralized exchanges (DEXs) revealed a stark contrast: prices for tokens like $PUMP and $JTO were about 25% higher there. Even lesser-known assets like $CARDS, not listed on big CEXs, held up better. Normally, in a real market meltdown, DEXs would suffer more due to thinner liquidity, but this flip suggests something was off with the centralized infrastructure.

Dedic's gut? This was a technical glitch, not a fundamental flaw in crypto itself. And that, he says, is actually bullish. Unlike past crises that shook his faith, this one had him buying the dip right away—and wanting more after some reflection. "Nothing fundamental has changed about this industry," he emphasizes. If you believe in crypto's long-term potential, events like this are golden opportunities to load up.

Now, let's zoom in on meme coins, since that's our bread and butter here at Meme Insider. Meme tokens, often driven by hype and community rather than deep fundamentals, can be hit hardest in these cascades due to their volatility. But they also bounce back fiercely when sentiment shifts. Dedic's thread indirectly highlights resilience in on-chain ecosystems—DEXs didn't break, and non-CEX tokens fared better. For meme coin enthusiasts, this could signal a shift toward more decentralized trading to avoid CEX pitfalls. Tokens like $PUMP, which saw wild swings, might emerge stronger if the crash weeds out over-leveraged players.

The replies to Dedic's post echo a mix of sentiments. Some users, like @RaAr3s, lamented the brutality on alts like $LINK and $SUI dropping to pennies. Others speculated on foul play, with @log1_053 questioning why sites like Coinglass went down beforehand and pointing to suspicious short positions. There's even talk of this boosting DEXs and automated market makers (AMMs) by exposing CEX vulnerabilities.

Rumors are swirling, and we'll likely get more clarity soon. But Dedic's message is clear: If you're in crypto for the long haul, survive this glitch, and you'll come out ahead. It's a reminder that in blockchain, resilience is key—much like the meme coins that thrive on community grit.

For more on how meme tokens weather market storms, check out our knowledge base on meme coin volatility strategies. Stay tuned as we unpack the latest in blockchain tech and meme culture. What's your take—glitch or something sinister? Drop your thoughts below!