Some thoughts on the market trends for this cycle:

1. Meme is playing the role of DeFi in the previous bull market. It has brought a lot of new money into the crypto space. Coins like Doge and Pnut have attracted a lot of new funds.

2. As the liquidity from memes overflows and the lifecycle of projects becomes shorter, the VC coin sector begins to rotate.

3. However, memes should still be a continuous theme, but the excitement and funds will gradually be diverted.