Bitcoin hits new high again, price approaches $93,421
At 9:30 last night, the United States released the October CPI data, which was in line with expectations.
In 4 hours, Bitcoin surged by $6,000, breaking through the $90,000 mark, and continued to rise to $93,421, setting a new record high. Yesterday's Bitcoin spike trend could easily cause contract players to blow up their positions.
To be honest, I admire the investors in the bull market. They can make 700 million with high leverage in a short time. Those who have not experienced the bull market must be confused. All coins are rising, and the strong ones are getting stronger. You just sold them in the last second, and they doubled in the next second. So just pick a few coins and hold them firmly. Don’t change them frequently. The faster you change, the faster you lose money. If you have a good profit, you can withdraw the principal first!
If I were to say what the general trend of this bull market is, I think it is BTC+meme (on-chain) coins. Currently, the entire market is based on Bitcoin and memes, mainly the pepe series, pnut series, doge series, and other on-chain narratives, such as art series and AI series. This wave of meme narratives has completely opened up with the rise of doge, so everyone needs to be imaginative.
A review of the recent strong Meme coin projects
Meme coin is the "get rich quick concept" that we hear every day. Compared with other sectors in the crypto market, the Meme coin sector obviously has a very strong get-rich-quick effect. For example, SHIB has increased by 500,000 times, and DOGE has increased by 400 times. These wealth-making myths have attracted countless traffic and funds to the cryptocurrency industry. However, the Meme coin track is not just a flash in the pan, and this wave of wealth-making myths continues.
1.DOGE
As one of the forefathers of Meme coins, DOGE has always been known for its community support and market performance. In 2021, DOGE coin gained mainstream popularity, growing from a market value of $700 million on January 1 to a market value of $88 billion in early May, a market value increase of more than 100 times in 4 months. Moreover, it has such an influential world-class technology influencer to promote it, which has a great relationship with the development of DOGE.
2. BABY
PEPE tokens were launched in April this year. In less than a month, the number of addresses of token holders reached 100,000. This rapid growth was absolutely unprecedented at the time. Looking at the token price alone, the increase on the 22nd reached 120,000 times. The price rose from 10 zeros before the decimal point when it was launched to 5 zeros. This not only attracted great attention from the market, but also caused a lot of excitement.
3.ACT
ACT had almost returned to zero on the chain before. Like Neiro, Binance has attracted enough funds to make itself the banker. When Binance goes online, it should play the same narrative-less game as Neiro. It is also the leader in AI+MEME narrative. I don’t need to say more about this!
The popularity of Meme Coin not only demonstrates the integration of Internet culture and the financial field, but also marks a new trend of combining Meme and AI. As an indispensable part of the cryptocurrency sector, Meme Coin will continue to play an important role in the cryptocurrency field in the future and promote the development and transformation of the industry.
Everyone should remember that positions increase as certainty increases, and bets should be placed in the early and middle stages of market reaction. Therefore, the key words to play meme well are: narrative, hot spots, community, OG, and project mechanism. Remember these keywords, only buy market consensus hot coins, do less operations, analyze more, and it is highly likely that you will make a fortune and earn high multiples.
