Coin World reports:
Source: Coin Square
The market has entered a correction phase since April 1st. By the end of this month, it will have been a whole six months of adjustment. During this six months, I, like everyone else, have been going through the pain and enduring the market’s baptism.
Back and forth, what is being tested is more about human nature, patience, and whether we can withstand the suffering brought by the market’s correction! Many friends have exited the market during this process, there is no way, most of us still need to live, and there are not many people who play with disposable funds.
BTC is now around 63,000, and ETH is now around 2,600. BTC has a 15% increase from its peak of 73,777, and ETH has about a 35% increase from its peak of 4,093.
In the past week, the on-chain situation of the ETH mainnet can no longer be simply described as “lively”. A statement from Lao Bao about interest rate cuts has once again revitalized the on-chain situation that was already active: there is a bottoming out every day, and there are even two or three waves of market movements during the weekend. The mainnet’s gas fees also soared to around 70 Gwei, even taking a breath on the chain is costly.
Specifically, the recent on-chain situation can be accurately described as a “fragmented battle.” In the eyes of ordinary workers, the weekends that pass by in an instant are quite saturated for on-chain participants.
However, as the market has evolved to the present, new concepts are obviously not enough to satisfy the enthusiasm of PVP. The meme market has upgraded from “finding concepts” to “embracing perspectives”: as soon as a new speculative concept appears, various tokens with the same name emerge one after another, big or small, new or old, each offering their own justification.
Various narratives take turns, bringing one market value after another, and various myths of getting rich quickly appear one after another. However, in the on-chain market, where there are “getting rich” stories, there are naturally “getting poor” stories as well.
Some so-called “narratives” that rise instantly often cannot stand the test of time, and the fragile popularity that arises from a celebrity’s words can also be extinguished immediately by a single sentence.
However, this “fragility of narratives” has also been precisely exploited by conspiracy groups, setting one trap after another for players on this passionate weekend.
The circle is really sad. After the six-month washout phase, more and more people are averse to VC copycats with high market caps, but there are still people in the meme circle. It is really sad when a circle only has one narrative. Now the copycats really have no story to tell.
This wave of market movements may be bigger than you think, and the opportunity to get rich quickly all started with Dogecoin.
Probably in the first half of last year, more powerful institutions invested in star projects in various fields. As a result, it was discovered that the current market liquidity cannot meet the requirements of these projects. From this year until now, institutions have lost money, big players have lost money, and retail investors have lost even more money.
So exchanges must choose self-rescue. Binance listed three Dogecoin-like tokens in a row a few days ago, and the wind changed significantly because there is no money in the market. Only by opening contracts can the bubble be increased. Without volatility and without money, listing high-valued projects is seeking death. Therefore, the simplest, most profitable, and easiest way to activate the market was chosen, which is to list Dogecoin. When the remaining funds in China saw this, they exclaimed, and the exchanges began to change their minds. If they don’t list projects, then promoting Dogecoin becomes the best choice.
The market really has no money, and it needs the effect of getting rich quickly to attract funds. The money in the circle cannot support a general rise in copycats because there are too many copycats and they can’t be bought. Dogecoin has done well and has played out of the meme circle. When funds come in, the bull market of copycats can continue. So don’t hesitate, you must seize this opportunity with Dogecoin and strive to create a myth like SHIB!
In the secondary market of memes, most coins have bottomed out, but there are still strong and weak ones. I recommend EPE, WIF, FLOKI, and BOME as meme coins.
These coins have also experienced several deep corrections in the past six months, and the bottom is relatively clear at this stage. As long as the overall market continues to rise, these coins can be bought on dips in batches, and I believe they will reach new highs, at least five times the current price.
The wealth effect on the chain is indeed greater than in the secondary market, but the risks are also much greater. Personally, I rarely participate in this field because it differs greatly from my investment style. It is suitable for small funds to bet big.
This sector is clearly driven by trends and requires long-term investment of time and energy to seize opportunities and hotspots at the first moment. Otherwise, when Twitter and the group start FOMO, it is often when it becomes a matter of liquidity.
Friends can pay more attention to popular on-chain coins. There are indeed myths of making hundreds or even thousands of times the investment, but from the moment you enter, you must be prepared for a return to zero. The greater the storm, the higher the price of fish.
When the market is good and you make money, no matter how much you want to expand your horizons, you must take some profits. Only when you have a good profit outlook can your mentality be better. Otherwise, when there is a correction, your mentality will collapse, especially when the meme market is too volatile.
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