Bitcoin is currently trading sideways around 69,000, Ethereum has begun to take over, and some currencies in small sectors have begun to gain momentum. The rhythm is so similar. James Fickel, a die-hard bull in the current ETH/BTC exchange rate, finally made a profit after being trapped for several months. This big brother was almost ruined by this before, so it can be clearly felt that funds are flowing back to Ethereum and related sectors, and then the copycat sectors will take off. Currently, the MEME sector is still the vanguard, and PEPE has even broken into the top 20 in market value!
Pepe (PEPE) trading volume hits record high, catching up with BTC and ETH
The meme coin PEPE can be said to be the hottest topic in the market recently. The price of the coin has increased by 130% in the past month, becoming the best performing project among the top 100 cryptocurrencies. It has also set new historical highs in the past week, breaking through $0.000016 on 13..14..15... This morning, it set a new historical high again, breaking through $0.000016. It was temporarily reported at $0.00001645 before the deadline, up 7.8% in the past 24 hours.
The token price continued to rise, bringing PEPE's market value to $6.91 billion, successfully surpassing Polygon to become the 21st largest token by market value.
From the meme coin classification in the figure below, we can also find that PEPE is the only one among the top five memes in terms of market value that has risen within 24 hours. However, the dynamic zone would like to remind investors that PEPE has always been very volatile. If the buying volume declines, the price of the coin may fall like a roller coaster. Please be careful of the risks.
Why Memecoin is successful
Meme Coins, also known as meme cryptocurrencies, are a subset of digital currencies that owe their popularity to Internet memes, pop culture references, and viral online trends. Unlike traditional cryptocurrencies such as Bitcoin or Ethereum, which have specific features such as decentralized transactions or the execution of smart contracts, Meme Coins generally lack tangible utility or technological innovation. Instead, their appeal lies in their ability to resonate with Internet users and generate buzz through social media platforms.
Cultural foundation: The images of Pepe and Doge have long been popular in Internet culture and have accumulated a large fan base on various social platforms. The crypto community is often composed of young and active Internet users who grew up with the development of the Internet. They are familiar with these emoticons and are happy to incorporate them into new trends.
For example, the origin of Doge's popularity in the Internet circle can be traced back to a photo of Shiba Inu Kabosu in February 2010; in December 2010, Doge Meme became popular on Reddit and combined with broken English phrases; in 2013, various Doge emoticons frequently appeared, and the influence of Doge Meme was already very large. In December 2013, Dogecoin (DOGE) was born based on a joke idea.
Simple and recognizable: This should go without saying. When you think of Doge and Pepe, those emojis will come to mind and you will understand them instantly. These emojis are highly recognizable and memorable, easy to spread, and can be visually distinguished from others immediately.
Entertainment and humor: Meme itself should be humorous and entertaining, and Memecoin should also inherit this feature, not only for investment returns, but also for the fun of it. This relaxed atmosphere can more easily attract outsiders, novices and young investors. Therefore, in the first two rounds of bull markets, it may not be value coins or applications that attract a large number of users into the circle, but Memecoins such as DOGE and SHIB.
Assuming that there is no Pixiu plate on the market, choosing a Meme should be based on appearance - that is, the most intuitive impression, whether you can be attracted by the fun and community spirit in it without thinking too much and feel happy.
Low threshold for secondary creation: The distinctive feature of Meme is that the threshold for making emoticons or secondary creation is very low, allowing users to spread it quickly and attract a large number of participants to join in the creation, and then continue to radiate and spread. Most Memes have a fixed image or template, and users only need to change part of the content; there are many free online tools and applications dedicated to making and sharing Memes, which simplify the Meme creation process; second creation Memes are not only a form of entertainment, but can also convey personal opinions and emotions, as well as reflect the living conditions of people in different generations.
Each secondary creation is giving Meme a new core, and the reason why Meme becomes a Memecoin is that Meme constantly absorbs new culture in the process of development - it integrates elements of Crypto and blockchain, making culture a cultural asset that is transmitted at the financial level. However, due to the easy spread of Meme, some people with ulterior motives will also label secondary creation Meme as political or extremist, thus bringing certain social harm. These corrections require the joint efforts of super influencers, soul figures and communities.
Super influencers and key figures drive: Social influencers play an important role in promoting and spreading Memes. As long as the Memecoins are related to them, they will be driven. In particular, celebrities and public figures in the Internet and various traditional industries mention or promote these Memes on social media, which will quickly attract market attention and hype. For example, Musk mentioned Dogecoin on Twitter many times, which directly affected its market price and popularity. At one point, some people even gave Musk the title of market manipulator; Musk posted a photo of a dog wearing a hat on Twitter, which caused WIF to soar.
The combination of Internet pop culture and Crypto has given Meme a significant impact on the financial level. Meme culture brings entertainment into investment behavior, allowing more users who resonate with Meme culture to do so at a lower cost. Enter Crypto. However, it still needs to be reminded that Memecoin is a highly risky and volatile target. A sense of recognition may be a prerequisite for investment, but it is not a guarantee of investment. We hope that all investors will treat it rationally when participating in Memecoin.
The market will continue to rise, and your chance of getting rich by copycatting depends on how long you can hold on!
Focus on 3 major events this week:
To sum up, how should we sell at this stage?
1. If it is a swing position, you must set a profit target, such as 10 points, 20 points, or 30 points. In fact, this has a certain relationship with our position. If the project you invest in occupies most of your position, then 10 points may be enough to stop profit. However, if the investment is not much, you can set a profit target of 20 points or 30 points, regardless of whether it will continue to rise sharply!
2. If it is a mid- to long-term ambush project with a return of ten or a hundred times, for this part of the project, the investment is actually not much, and what we want is to make a small investment for a big return. Therefore, if the principal can be doubled, there is no need to pay too much attention to it. In order to avoid being affected by your emotions, you can place an order after buying. For example, if the ambush is for 1 dollar, then you can sell half of the position at 2 dollars!
Because there are many ambush projects, this also avoids the situation where you may not be able to sell out in time even if the capital doubles. Since the market value of these projects is relatively small, the corresponding fluctuations will be relatively large. After doubling your principal, it may continue to double. At this time, you can continue to pay out your principal or continue to hold it, and wait until the big bull market comes to decide when to clear your position, whether it is 1x, 2x, 10x or 100x, just set a goal for yourself to clear your position!
This week, we need to focus on several unlocked projects. Pay attention to timely profit exit when the price rises! You can take them back one after another after unlocking! The US market will not open tonight. Perhaps, the market is likely to fluctuate. Judging from the current trend, Ethereum may fall back to around 3700, and other mainstream compensatory rising markets will come sooner or later!
After a brief adjustment on May 24 and 25, Bitcoin has re-entered an upward trend. This was mentioned in last week’s analysis, but this upward trend will be relatively slow. Only a bull market will cause a violent rise. In any case, as long as the overall market does not continue to fall, the copycat market will continue to exist.
Next, Bitcoin will try to break through the 70,000 mark again. It is estimated that it will break through again this week and then continue to rise, so everyone must hold the spot well. You can use the liquid funds to play with memes at will, and large amounts of funds must be used for long-term holdings of high-quality assets.
Hold on to every chip! The chance to get rich by copycatting will come to you!
In the bull market, your wealth will grow as long as you can hold on!
I would like to advise you again that making money requires a certain pattern. If you can’t control your hands, you may miss the bull market. How many chances can a person have to change his fate in his life? If you have a bad attitude and mess around, you will miss all the big opportunities. When it becomes difficult to make money in the future, what’s the use of slapping your thighs! If you want to turn things around, first temper your mentality into iron, and then turn your transactions into gold.
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