Recently, new coins have dropped significantly, reminding me of the golden pit during the DeFi era. Back then, in September and October 2020, the market was hit hard, especially for DeFi projects represented by UNI, which were severely criticized. However, the first wave of the bull market ultimately started from the DeFi sector. Trends are worth believing.
As long as there are ongoing hot topics on-chain that create wealth effects, large funds in the secondary market will pull up benchmark projects. Once secondary funds lead the trend, more hot money will flow in on-chain to pursue the next wealth effect. This relationship forms a mutually beneficial cycle.
Remember when UNI, SUSHI, and YFI plummeted, yet new DeFi projects kept emerging on-chain? The current situation is similar; no matter how much new meme coins drop in exchanges, activity on-chain continues to thrive.
Next, which track will the funds choose to pull out a trend first? The answer is quite obvious. Once the first wave of trends is completed, it will be time for other narratives to take the stage. Just like the previous rounds of NFT, metaverse, and GameFi Ponzi projects, they only started performing after DeFi had its run.
Once the market starts to soar, these 6 major cryptocurrencies can double your wealth!
DOGE
Dogecoin, as a popular meme coin, has a large number of loyal fans and strong community support, which has boosted its popularity, acceptance, and value. Especially recently, when SpaceX's big boss Elon Musk proposed the government efficiency department DOGE, Dogecoin's price surged. Coupled with the positive market sentiment from Trump's election win, Dogecoin's price has taken off.
As long as Dogecoin's price can break through the $0.5 mark, it will be considered as entering the 'bull market'. Moreover, Trump's inauguration may give Dogecoin another boost, moving it towards the $1 target.
PEPE
In the spring of 2023, PEPE's popularity soared. Its market value reached a peak of $1.6 billion, making early investors millionaires. This explosive growth has sparked what some are calling the 'meme coin season', with other meme-based currencies experiencing wild fluctuations.
PEPE's roadmap includes listing on major exchanges and aiming for a 'meme takeover'. Although the future is uncertain, many people are watching whether PEPE can reach new heights, especially with the upcoming Bitcoin halving potentially triggering a bull market. In the active and unpredictable cryptocurrency world, PEPE stands out as a currency worth watching. There is still room for a 5x increase from the current point!
SOL
The target for SOL's bull market is $500. Successfully breaking through this level may pave the way for Solana to challenge its historical highs, triggering bullish sentiment in the entire market and highlighting Solana's potential for further gains.
The next few days are crucial for Solana as it will test the resilience of its upward trajectory. Bitcoin's bullish performance has also fueled optimism in the entire market, further supporting Solana's price trend. Recent breakthroughs indicate that bullish momentum is strengthening, as Solana continues to outperform many other altcoins in the cryptocurrency market.
LDO
As the leader in the ETH staking field, LDO may indeed experience a sentimental rise driven by expectations related to staking ETFs.
However, from a rational perspective, large institutions may prefer to directly use underlying protocols or develop their own staking solutions, rather than relying on third-party platforms. This also means that LDO's 'hot market' may be more driven by market sentiment rather than fundamental support.
SNX
As an 'ancient coin', SNX is fully circulated and has the lowest market cap, while still ranking first in TVL in the synthetic asset field.
This gives it a certain speculative appeal. Grayscale has a low position allocation, perhaps aiming for high returns with low investments, anticipating that market sentiment or technical breakthroughs will bring excess returns. From a risk/reward perspective, the current price level is indeed worth attention.
