In the past 24 hours, 1.7 billion has been liquidated, with 570,000 people liquidated! This wave of liquidations is clean and thorough. Let the bulls eat some grass first, and then the altcoin bull market can be launched again. Those who have been liquidated to zero can no longer enjoy future gains... So, making money from contracts is just a process; going to zero is the result! I have only lost less than 10% of my total funds on contracts, and this little bit of random fluctuations is not a big deal... But a 20%+ drop in altcoin spot trading is still painful. I can only tell myself that at least the "bull" is still there!
Dogecoin can be said to be the ancestor of MEME without exaggeration.
In the early days, rewards in forums were given starting from tens of thousands or even hundreds of thousands of doge, causing many to miss the excellent opportunity to get rich. Over the weekend, due to Musk's tweet, $Doge only rose by 5%, and the power of calls has diminished. In the past, it was at least 15 points; unexpectedly, Baby Doge surged by 60 points, and yesterday it rose again by 35 points. Who can bear this situation? There are many short sellers, all fueling the rise.
Babydoge is a meme coin that was initially created as a joke, mainly aimed at building a fun meme community and spreading awareness of animal welfare and pet adoption. I still think it's better to keep it low; the rise hasn’t felt substantial.
There are too many dog-related coins on the market, with names like Dog Dad Hat Dog, Baby Dog, and Dog Dizziness. Which one do you like?
This year's mainstream seems to replicate the trend of 2023, taking off in October, consolidating upward in November and December, and then reaching the peak in January when the ETF ceiling is reached. Just like this year took off in October, it is currently continuing a phase of upward consolidation. With Trump taking office in January and Musk joining DOGE, it might perfectly replicate the trends of 2023. Moreover, there is another positive news for Bitcoin; Microsoft will hold a meeting today about whether to purchase Bitcoin, and if approved, Bitcoin is likely to surge again, benefiting altcoins.
From a broader perspective, major mainstream coins and popular altcoins may reach their peaks in January next year. In the short term, we are waiting for the results of the Microsoft meeting. Friends in the car should sit tight and not ask where the altcoin bull is; perhaps we are already in a bull market. Speaking of today's daily $BTC market analysis, at 5 a.m., Bitcoin broke below 94,000. I searched everywhere but couldn’t find any bearish news. Perhaps it was just a large holder dumping mindlessly. Currently, the rebound is nearing 98,000, but the altcoins are truly struggling, with many dropping by more than 10 or 20 points. In the past 24 hours, there have been liquidations of 1.716 billion across the network, with 1.547 billion from long positions.
From the K-line perspective, Bitcoin's hourly level shows a rebound, the 4-hour level shows a pin-bar rebound, while the 12-hour level shows a downtrend, and the daily level also shows a downtrend. The intraday resistance level is 100,000, and the support level is 95,500 USD.
Strong! Rising against the trend without fear of falling?
The market cap of MOVE is 10 billion, without any pullbacks! The total liquidation amount for 500,000 people across the network is still less than that of a newly listed VC coin? The market cap before full circulation is high! Who is overvalued with MOVE? Or who is undervalued?
After the flash crash, which altcoins are worth paying attention to?
This wave of flash crashes also gives those who missed the strong coins a chance. Crab Boss has compiled several altcoins with relatively high certainty for everyone's reference:
1: ETH, there will be updates in the Ethereum online conference this month, plus the ETF has seen continuous net inflows for half a month. The upgrade in March next year, along with Trump taking office in January, is expected to loosen policies. By then, ETH's launch of ETF staking will likely accelerate the main uptrend!
Reference positions can be placed in batches around 3550-3500. Pay attention to position allocation. The target is set for new highs and 8000!
2: SOL, SOL is expected to be the first altcoin to launch an ETF. On January 25, 2025, four institutions' applications for Solana ETFs will undergo review. In the past two years, the SOL ecosystem has also kept pace with the meme trend, developing Wif, Bome, etc. Therefore, besides Ethereum and BNB, SOL remains the top choice for long-term altcoins due to its strong ecosystem and ETF expectations.
Reference positions around 200-205 can be used for placing orders in batches. Pay attention to position control. The target is new highs; if the ETF launches and it rises to 500, it wouldn’t be surprising!
3: DOGE, the trend of Dogecoin has not ended. Musk's DOGE minister will officially take office in January, and Doge will begin another wave of upward momentum. Musk has repeatedly called attention to Doge, which has already risen several times from the bottom. Those who exited midway, including those who haven't boarded yet, still have a chance to share in the profits. Although Dogecoin has a relatively large market cap, there is still room to double at new highs.
Reference positions at 0.4 can be bought in parts, and the remaining can be placed at 0.36 to lower the average price. On one hand, I fear that Dogecoin won't provide an opportunity to start with 0.3, and on the other hand, I need to strictly control the position and cannot go all in at one level. Good position control means considering at least a 50% reduction on the wave. If held well, it should reach new highs.
4: pepe, I built my position in Pepe last year and have been riding it since. Although I reduced my initial position significantly, it still represents a substantial profit of 10 times, which looks appealing. However, holding onto it wasn't easy, as we experienced several washouts along the way. How many people were washed out during this journey?
As for those who were previously washed away and have not yet boarded the train, you can refer to positions 2-118 and place orders to catch them. If I lose, it won't be a big deal. I have been staring at the market every day, and my eyes are hurting. You just need to understand the position I mentioned regarding Pepe. If you catch it, I will say again, you should at least take 50% profit on the wave, and hold the long term to double your initial investment, using profits to seek 5 times the space.
$UNI can still be held?
In the past few days, as UNI prices surged, large holders and institutions began to sell off and flee, which is partly why UNI weakened during the day. Some leave while others enter, which is normal. Personally, I still remain optimistic about UNI's future. With the mainnet launch on the 18th, UNI token holders will have significant speculative opportunities, similar to the series of value enhancements for BNB.
Grayscale's favored DeFi series. As UNI accounts for 58%, this rebound can only be described as mediocre, not as strong as Sushi's performance. The main reason is that the project team has not synchronized the release of good news. Once good news is released, UNI’s price will soar like a wild horse.
For intraday trading, focus on altcoins that are worth building positions. Major funds should prioritize UNI and AAVE.
My target for UNI is at least 50 and above. Just hold it!
Musk frequently retweeted tweets related to PEPE today, promoting the Grok function for quickly creating meme images.
On December 10, Musk retweeted and commented on PEPE-related tweets three times and changed his pinned tweet.
It is reported that in addition to tweets related to Pepe, Musk also retweeted several times today tweets generated by Grok featuring Super Mario, Bill Gates driving a Tesla, and Rubeus Hagrid from Harry Potter.
Musk released an AI-generated image with the caption "Crazy nightmare fuel." The image was generated from the text "Make a funny Pepe meme about making Pepe memes."
Musk has sent several tweets about Pepe, the frog coin. Today's $PEPE is a response to the significant drop from a couple of days ago. Last time, Baby Doge rose in a similar manner. It's worth chasing a bit for a short-term trade.
Musk also stated, "Meme image generation is an outstanding feature; using the AI model Grok under xAI, you can create fantastic meme images super quickly—just click on the box with a slash." "Users can upload any images to Grok, including meme images, and it will explain their meanings."
I feel that many coins have recently launched on Bybit, so I checked my Bybit account. After fiddling for a while, I found that I actually had 100 USDT in there, so I quickly sent it to invest.
I researched the recent listing logic on Bybit: high-quality VC projects and popular meme projects have all been listed, and after listing, they have performed well. The investment research team at Bybit is still quite capable. Notable gains include Supra, Major, Morpho, Move, and Me. For meme coins, there are $luce, $ban, etc. Recently, a lot of heat and funds were taken away by on-chain events, but Bybit has managed to reclaim this part.
A brief introduction to these projects.
$supra: Supra is an L1 project, with investments from Coinbase, Animoca, etc. It has a lot of testnet users, and the mainnet will launch by the end of the year. The token surged 7-8 times after being listed on Bybit (the price at which it could be purchased). $major: Major is a game on Telegram that already has revenue, with a current market cap of over 100 million USD.
$morpho: Morpho is a lending protocol backed by a16z, Coinbase, etc., which raised 68 million USD. It launched its mainnet in 2022, and apart from Bybit, the token is also listed on Bithumb and Kraken, with a circulating market cap of 290 million USD. The listing price has also more than doubled, which is quite impressive. $move: movement, a top-tier project. Although many people looked down on this project during the hype, it still surprised many, including myself, after its launch yesterday. No need to mention its background.
Polychain: Binance and others have invested. Its circulating market cap has reached 1.8 billion USD, and the opening price did not drop as expected.
$me: Magic Eden, a cross-chain NFT platform, led by Electric Capital. I used it to play Solana NFTs in 2021 and 2022, including last year's runes, but surprisingly, it didn’t airdrop me. ME participated in Bybit's Token Splash event, which mainly targets new users. I initially wanted to join this event but found out that my account had already been registered, and there was still 100 USDT in it, which was a pleasant surprise.
No more introductions. The reason I said so much is to express that the bull market is here; we need to be ready with our Bybit accounts. Sometimes, many quality projects may not be listed on other exchanges, but they are available on Bybit. You can participate in launchpad, Token Splash, and similar activities to earn some profits. For those with money who are optimistic about projects, trading is also an option. After all, in this market condition, combined with the Bybit team's project selection, it’s rare to see a continuous downward spiral right after opening.
$ME will be listed on Binance and Upbit.
Also, Binance will list Magic Eden ($ME) on December 10, 2024, at 23:00.
$ME is on Upbit, so will tonight's script be like $MOVE, with Korean traders single-handedly pulling it up, forcing Binance and other exchanges to follow suit, resulting in a sky-high price?
Assuming that $ME can stabilize at 6 USDT when it opens on Binance, that would correspond to a circulating market cap of about 800 million.
Currently, the circulating market cap of $TNSR is over 80 million.
The former is an all-chain NFT trading platform, while the latter only deals with the Solana chain. In terms of profitability on the Solana chain, both are on par.
I feel that now is a good time to buy some $TNSR for a short-term profit.
I simply think that if $ME opens at 6 USDT and stabilizes, then $TNSR will be lifted a bit; this is the normal speculative logic of secondary markets.
So to summarize, I can buy some $TNSR now. After $ME goes live in the evening, let's see if we can ride the wave for a bit and make some pocket money in the short term.
8 key points you need to know about $ME.
The core is a multi-chain NFT trading platform, which also includes wallet and token trading functions. In the past month, the user count reached 156,000, which is 20,000 more than OpenSea, while Blur only has 21,000. In the past month, trading revenue was 2.8 million USD, while OpenSea generated about 600,000, and Blur around 301,000. The next version of Magic Eden will allow users to trade Solana NFTs using ME tokens.
Token economics: Total supply of 1 billion, 125 million airdropped;
Airdrop: The airdrop will be open for claiming at 22:00 Beijing time on December 10. Additionally, Magic Eden announced that starting tomorrow, it will support Solana NFT traders to use ME tokens for trading. Sellers who list NFTs with ME will receive token rewards after selling.
Inquiry address
https://checker.diligencedao.com/?checkers=MagicEden
Listing platforms: Binance, OKX, etc.;
Listing exchange time: 10 p.m. on the 10th (UTC+8) (Binance at 11 p.m.);
Pre-market price: 5.7 USDT (OKX);
Valuation: Raised 146 million, B-round cost 1.6 USDT. KOL Timson believes that under pessimistic expectations it will be 4 USDT, corresponding to an FDV of 4 billion USD. Under neutral expectations, it will be 8 USDT, corresponding to an FDV of 8 billion.
