【May 14, 2024 Navigator Chinese Community Market Analysis】

1 Review of the overall market trend:

In the latest market dynamics, we observed that Bitcoin (BTC) experienced a round of rebound, while most alternative coins (commonly known as "altcoins") generally showed a downward trend. In addition, the US stock market showed a volatile pattern. It is particularly noteworthy that the stock price of GameStop (GME), which once led the retail movement, has surged several times. This phenomenon seems to indicate that the enthusiasm of the bull market is returning, and the bulls represented by "Roaring Kitten" have once again demonstrated their market influence.

2 Detailed interpretation of market hot spots:

a) Performance of MEME coins:

In terms of MEME coins, we have seen the prices of tokens such as Pepe, Floki, Maga, Mog, Popcat, Michi, etc. rise, and those MEME coins related to GME and Kitty have achieved dozens of times growth. In particular, Pepe coins set a new high, while MEME coins with the theme of "Roaring Kitten" led the upward trend of the entire market. It is worth mentioning that the US retail funds that rushed into the MEME coin market are highly overlapped with the funds that rushed into GME, which may indicate that the investor groups in these two markets have similar investment psychology and behavior patterns.

b Performance of Bitcoin Ecosystem-related Projects:

In the development of Bitcoin Ecosystem-related projects, we noticed that the performance of BB coin on Binance Smart Chain (BSC) was relatively average, while the price of Auction project fell sharply. It should be pointed out that BB is a Bitcoin re-pledge protocol developed by the Auction team, and it is also the first project of the Megadrop launch platform on Binance Smart Chain. However, overall, new projects in the Bitcoin ecosystem generally performed weaker than the market, such as the newly launched Merlin and Runestone tokens, which hit new lows.

c Tokens to be unlocked:

In the next week, we will witness $80 million unlocked for Strk tokens, and $100 million unlocked for Arb tokens. These new tokens that are about to enter the market may have a certain impact on the market, and investors should pay close attention to relevant developments in order to make timely investment decisions.

In summary, market volatility and uncertainty still exist. Investors should remain cautious when participating in the market and pay close attention to market dynamics.