Driven by the meme coin craze, the old public chain Solana is undoubtedly one of the most watched L1 blockchains in this bull market, and the price of SOL has continued to rise this year. Just at 8:00 this morning, SOL started again, and at the time of writing, it has reached $238, an increase of 11% in the past 24 hours. It is only about 9% away from its historical high of $259 in the 2021 bull market.
Ethereum is slightly weak
It is worth noting that Ethereum, which has been performing poorly in this bull market, has recently failed to break upward after reaching $3,444 on November 12. At the time of writing, it has fallen back to $3,116, down 2.2% in the past week.
In addition, according to Trading View data, the current Ethereum to Bitcoin exchange rate is as low as 0.03432, showing a downward trend in the past year, with a drop of 15.77% in the past week; while the SOL to Bitcoin exchange rate has risen by 38% in the past month.
BonkDAO recently destroyed 100 billion BONKs and plans to destroy another 1 trillion before Christmas in December. This large-scale destruction event "BURNmas" started at 0:01 UTC on November 15 and will last until 0:01 UTC on December 24. The destroyed tokens mainly come from applications that use BONK in the Solana ecosystem.
According to the OKX market, BONK broke through 0.00005 USDT, setting a new historical high and is currently trading at 0.000052568 USDT, with a 24-hour increase of 33.40%.
Let’s continue to look at Musk’s DOGE
The current circulation of Dogecoin (DOGE) has exceeded 140 billion, the impact of annual issuance has gradually weakened, and the adoption rate has continued to increase. Its low price is a major advantage over Bitcoin, attracting retail investors to hold a large amount of DOGE at a low cost.
The current DOGE price is about $0.38, with a 24-hour trading volume of $10.56 billion and a total market value of $55.8 billion. It has exceeded $0.42 for the first time in two years. Both the 7-day and 30-day charts have been rising recently, and the market is bullish. This month is expected to close with gains, and may even challenge the historical high of $0.73.
Review of recent market rhythm:
Week 1: Bitcoin, BigDog, MEME → Ethereum → Altcoins → MonsterCoins
Week 2: MEME → Big Boss Market Cap Trash → SOL
Prediction for Week 3: MEME → Copycat (AI?)
Core Strategies:
Execution + control: Don’t be anxious or panic, proceed steadily, gradually increase funds, and keep up with the main hot spots.
Participate decisively when emotions are high: Don’t be afraid of new hot spots and new opportunities, even if you reduce your position to try, you can get your money back if you lose three and earn one.
Control your position to avoid FOMO: Short-term spikes can buy strong coins such as DOGE and SOL at low prices.
Bull market rules:
Big cycle: The rising period usually lasts for half a year; the small cycle (bronze market) is about 1.5 months, with an upward trend as the main feature.
Hot spot rotation: strong coins run through the fish body cycle, and other sectors rise in rotation, seizing every opportunity.
Capital effect: After the price of Bitcoin rises, the wealth effect and the out-of-circle effect attract capital, and the overflow funds flow into relatively low-priced assets.
Today's article ends here. We are currently in a bull market, and the situation is turbulent. We share passwords every day. If you don't know what to do in a bull market, welcome to follow us. Bull market spot passwords and layout strategies can be shared free of charge.
