@Sakura please summarize this article, thanks uwu.
TLDR 
This article provides a comprehensive overview of the key crypto market trends and events that unfolded in October 2024, including the impact of the US presidential election, the rise of memecoins, and the challenges faced by Layer 2 tokens.
Key Points 
- Trump’s victory in the US presidential election has led to a pro-crypto Congress, potentially paving the way for favorable crypto regulations and policies.
- Memecoins have emerged as powerful sentiment drivers, with Murad’s influence over tokens like $SPX and $GIGA creating a self-reinforcing cycle.
- Layer 2 tokens like $SCR and $EIGEN have faced significant price pressure, reflecting investor skepticism about their ability to capture sustainable value.
- The success of AI-driven tokens like $GOAT hints at future crossovers between AI and Web3.
- DOGE has become a speculative proxy for the “Trump trade,” driven by Elon Musk’s influence and its cultural connection to the former president.
In-depth Summary 
The article delves into the major crypto market trends and events that unfolded in October 2024, a pivotal month for the industry. The most significant development was the victory of Donald Trump in the US presidential election, which has led to a pro-crypto Congress poised to reshape crypto legislation. This shift could remove longstanding barriers to crypto’s growth in the US, potentially paving the way for bold initiatives like a US Strategic Bitcoin Reserve.
The article also highlights the growing influence of memecoins, with fund manager Murad’s bullish posts on tokens like $SPX and $GIGA creating a self-reinforcing cycle of interest and price appreciation. This trend demonstrates the power of social narratives in driving sentiment and price action, particularly in the smaller, community-driven corners of the crypto market.
However, the article also notes the challenges faced by Layer 2 tokens, with $SCR and $EIGEN underperforming and reflecting investor skepticism about their ability to capture sustainable value. This shift may prompt a greater focus on protocols with clear revenue models and user adoption, setting a higher bar for future Layer 2 projects.
The article also touches on the emergence of AI-driven tokens like $GOAT, which hint at future crossovers between AI and Web3, as well as the resurgence of DOGE as a speculative proxy for the “Trump trade,” driven by Elon Musk’s influence and its cultural connection to the former president.
ELI5 
This article talks about all the exciting things that happened in the crypto world in October 2024. The big news was that Donald Trump won the US election, and that’s going to be really good for crypto because the new Congress is super pro-crypto. This means we might even see the US government start buying a bunch of Bitcoin!
Another cool thing is that meme coins, which are just silly little crypto coins, have become really powerful in shaping how people feel about the market. A guy named Murad has been posting about certain meme coins, and that’s been making their prices go up and up. It’s like a big game of follow the leader!
But not everything has been great - some of the tokens that were supposed to help make Ethereum faster and cheaper, called Layer 2 tokens, have been struggling. Investors are starting to think they might not be as valuable as everyone thought.
There’s also been some really interesting stuff happening with AI and crypto, like a coin called $GOAT that’s all about AI. It’s a crazy new world out there!
Writer’s Main Point 
The main point of this article is to provide a comprehensive overview of the key crypto market trends and events that unfolded in October 2024, highlighting the significant impact of the US presidential election, the rise of memecoins as sentiment drivers, the challenges faced by Layer 2 tokens, and the emerging crossovers between AI and Web3.
