On October 5th, Andrew Kang, co-founder and partner of crypto venture capital firm Mechanism Capital, posted on social media, "It seems that @MustStopMurad's speech at Token2049 catalyzed the next wave of capital reallocation into Meme coins. Popcat appears to be one of the beneficiaries of these capital flows and is now making price discoveries. The four major Meme coins - BONK, WIF, PEPE and FLOKI - are preparing to join the cycle. "