【Market Analysis on November 15 - MEME Market】
If there is a pullback, don't pay too much attention to Powell's hawkish remarks... Powell delivered a hawkish speech last night, the US stock market was under pressure, the three major indexes fell across the board, and Bitcoin finally ushered in a reasonable pullback. The market also began to rumor that there might not be a rate cut in December. Is it entering a bear market? Let's take a look.
Market Overview
In this wave of market conditions, institutions and retail investors go hand in hand. Wall Street institutions have recently bought hundreds of millions of dollars of Bitcoin every day, pushing Bitcoin to new highs and approaching the threshold of $100,000. In contrast, retail investors are speculating on MEME coins, especially in the altcoin market, where they are being cut by institutions. It is better to go directly to the MEME market to gamble. After all, with the support of Musk and Trump, MEME coins such as $DOGE, $SHIB, and $PEPE once exceeded the market value of 10 billion US dollars. Binance's successful layout on $ACT and $PNUT this time proves that listing on Binance is not the end, but a brand new beginning. The amazing increase in a short period of time has attracted a lot of attention.
Market characteristics
This wave of market conditions has changed the way retail investors think, and many people think that it is better to invest in MEME coins than to continue to invest in altcoins that are suffering from serious losses. The market performance of MEME coins is amazing, and the market value of many MEME coins has exceeded that of many leading projects of traditional altcoins. This also shocked institutions, because the venture capital funds in the crypto industry in Q3 were only $1.7 billion, and a successful MEME coin project could create huge market value growth in a few days.
Future trends
The current MEME coin craze has allowed the SOL chain to surpass ETH to a certain extent. The selling behavior of the ETH Foundation during the surge has triggered widespread discussion, and many people believe that SOL will become a new mainstream platform, especially driven by the MEME market, SOL's performance has become more and more prominent. With the emergence of more and more super MEME coins, the superposition of wealth effect and market heat, MEME coins are expected to become one of the main themes of this round of bull market. Especially driven by SOL, the market heat will continue to heat up.
In summary, this wave of MEME coin craze is similar to the DeFi wave in the past bull market, and it may run through the entire bull market cycle and become the dominant force in the market.
