In the current market, institutional funds only buy BTC. Wall Street institutions have recently bought hundreds of millions of dollars a day, driving Bitcoin to new highs and approaching the $100,000 mark. Retail funds are interesting, only speculating on meme coins. Instead of being cut endlessly by institutions on altcoins, it is better to gamble on meme coins.
Benefiting from Musk's call, the market value of Dogecoin exceeded 60 billion US dollars, driving the meme sector to another climax. Shib exceeded 15 billion US dollars, Pepe also exceeded 10 billion US dollars, and other second-tier meme coins also easily reached a market value of 1 billion US dollars.
ACT and PNUTS launched on Binance increased by dozens of times in just a few days, and their market value even exceeded 2 billion US dollars.
The market has since become extremely polarized, and it is ironic that the market value of a bunch of meme coins exceeds that of many copycat industry-leading coins.
Doge, Shib, and Pepe have reached market capitalizations of tens of billions of U.S. dollars, driving up the potential market value of meme coins in the future. Meme coins, which previously could exceed $100 million, now have a potential market value of $1 billion. This has brought great wealth effects to retail investors, so unless a bear market comes, meme coins will most likely run through the entire cycle like ICO in 2017 and DeFi in 2020.
The bull market has just begun, so why do some people say it is over? A short-term correction is for a better rise. If there is no correction, it will be detrimental to the rise.
Bitcoin is retreating at the 4-hour level, with support below around 86,000. For the broader market, there is no need to panic, as this is still a bull market, don’t worry!
In the retracement of Bitcoin last night, meme still performed well, but altcoins suffered. Many of them returned to the starting point. After the meme market ends, funds will rotate to a wave of valuable altcoins, but the range will be limited. Let's focus on meme.
Although the MEME sector has experienced a pullback following the broader market, it is still very strong, such as $pnut $act $pepe $wif and so on. The pullback is a good opportunity to get on board. The market has not ended yet and the bull market is still there!
Since you have read this far, please follow and like before leaving. I am Qingtian, an old investor who sincerely wishes you to get rich!
