The adjustments in the market over the past two days have actually been quite healthy. Many cryptocurrencies have recorded several times the increase in the past month, and a current pullback of 30% to 50% is also a normal phenomenon. For the subsequent market trends, the following judgments are made:
Firstly, the first phase of the bull market has ended, and after the adjustment is completed, it will enter the second phase.
Secondly, current off-market funds have not yet flooded in on a large scale; we are still in a phase of self-indulgence among on-market participants. The rise of many cryptocurrencies is also driven by on-market leverage, so clearing leverage in the short term is particularly critical.
Thirdly, the duration of the adjustment will not be too long, and the second phase is expected to start before Christmas.
Fourthly, the leading cryptocurrencies in the second phase are likely to be those in the SOL or ETH systems. This judgment comes from personal experience with multiple blockchains, as SOL has potential due to its ease of operation, low entry barriers, and a broad base of users, while ETH has a demand for catch-up growth.
Fifthly, the process of clearing leverage in the second phase (the phenomenon of 'wicking') will be more intense compared to the first phase, yet the overall trend of rising remains unchanged. Therefore, one can buy the dip (such as the current timing), as frequently using leverage during a bull market will only accelerate one’s own demise; do not underestimate the risk management capabilities of exchanges.
The altcoin season is about to explode, with 3 meme coins possibly surging 100 times!!
Shiba Inu (SHIB)
The development of Shiba Inu (SHIB) has far exceeded its origin as a Dogecoin imitation. The project embraces meme culture with the Shiba Inu as its mascot, fostering a loyal community known as the 'Shib Army.' Shiba Inu places a strong emphasis on decentralized governance, aiming to stand out in the cryptocurrency world.
Shiba Inu offers a diversified ecosystem supported by three key tokens: SHIB, LEASH, and BONE. SHIB facilitates transactions and purchases, while LEASH and BONE support staking and governance within the ShibaSwap decentralized exchange. This layered functionality makes the ecosystem more robust and versatile than many other meme coins.
Additionally, the Shiba Inu ecosystem includes decentralized applications (DApps) that allow users to stake tokens, trade on ShibaSwap, and participate in the NFT market. These utilities help provide the project with value beyond speculation, addressing widespread criticisms of meme-based cryptocurrencies. Transparency and community involvement remain central to its operations, reinforcing its decentralized nature.
Pepe (PEPE)
Pepe Coin has proven itself to be a standout in the cryptocurrency market, achieving an astonishing rise of 1518.31% over the past year. This performance has placed the token among the top 100 cryptocurrency assets, accounting for over 94%, solidifying its strong position. Pepe Coin has become a key participant in the field, ranking 3rd among meme coins and 20th in overall market capitalization. PEPE's circulating supply and maximum supply are 420.69 trillion, and its current market cap is as high as $9.94 billion.
A close look at Pepe Coin's price candlestick chart reveals significant volatility over the past 12 months, but a consistent upward trend. Notably, it has maintained above the 200-day simple moving average (SMA), indicating strong bullish momentum. High trading activity highlights the speculative interest driving its rapid ascent.
Pepe Coin aims to leverage the success of tokens like Shiba Inu (SHIB) and Dogecoin (DOGE) to join the ranks of top meme-based cryptocurrencies. Since its launch, it has garnered widespread attention, with news surrounding the token continuously stirring interest. As its popularity continues to rise, the demand for updates on its development is also increasing.
Market events and news play a significant role in driving PEPE price fluctuations. For both seasoned investors and newcomers, understanding the dynamics of the market is crucial. Overall, Pepe Coin's impressive growth and solid market positioning have attracted the interest of cryptocurrency enthusiasts, making it a token worth closely monitoring.
Dogecoin (DOGE)
Analysts have compared Dogecoin's current surge to an astonishing increase of over 300% in December 2017. Dogecoin's current trading price is $0.404, with a rise of up to 60% in the past month. If the price breaks through $0.44, analysts believe this could pave the way for a rise to $0.50, potentially reaching the $1 mark by early 2025.
Historically, December has been a favorable month for Dogecoin, with an average increase of 24.3%. This trend further supports the optimistic sentiment for the upcoming weeks. Dogecoin's relative strength index (RSI) is currently at 63, indicating that bullish momentum continues. Additionally, analysts emphasize that Bitcoin's performance is a key factor; a BTC breakthrough of $100,000 may ignite enthusiasm across the entire cryptocurrency market, which would greatly benefit Dogecoin.
Increasing whale activity and speculation about the potential emergence of a Dogecoin ETF in 2025 have also heightened this optimism.
