The market experienced a correction yesterday, and Bitcoin fell to US$95,734. However, it rebounded to around US$97,300 this morning, indicating that the support below is still quite strong.
Ethereum has not fallen much and is currently fluctuating around $3,320.
Among altcoins, some old-line altcoins, such as SAND and MANA, have seen a compensatory rally.
Will Bitcoin experience a major pullback?
I think the market will need a correction in the short term, but the magnitude should not be too large because the buying power below is very strong.
At present, the issuance of stablecoins such as USDT and USDC is increasing, and the total market value has exceeded US$190 billion, setting a historical high.
In November alone, an additional $15 billion was issued, which shows that a large amount of new funds are pouring into the market.
Bitcoin spot ETFs are also seeing continued net inflows, coupled with the leverage effect of MSTR, which are driving Bitcoin prices to new highs.
Wall Street capital is the main driving force. Currently, most Bitcoin holdings belong to American Wall Street capital. They will definitely push this matter from the perspective of interests.
The author of (Rich Dad Poor Dad) expressed strong support for Michael Saylor’s Bitcoin strategy.
He cited Saylor’s prediction of Bitcoin reaching $13 million.
He said that if Saylor's prediction is correct, buying 0.01 BTC at today's price could make investors millionaires in the future, and advised investors to buy in time.
In addition, the Federal Reserve is likely to continue cutting interest rates in December, which will further increase market liquidity.
After Trump takes office, the Bitcoin Strategic Reserve Act is likely to pass.
It is possible that a Bitcoin currency reserve system will be established with the United States as the center and radiating to Europe and the Middle East. By then, a large number of sovereign funds will take over.
In the primary market, RIF and URO began to rebound.
The hot money in the market has begun to flow back to the chain, and everyone is guessing what the next project will be launched on Binance.
So what projects are being hyped in the MEME coin market recently?
Recently, the primary market has been mainly hyping the TikTok concept and the concept of issuing coins through live broadcasts, as well as the MEME coin of the BSC chain.
I am also observing the consensus and popularity of these new projects in the market. If I find any definite opportunities, I will post them in the core group.
Among the TikTok concepts, the hottest project right now is Chillguy.
Chillguy became popular on TikTok. It is a second-generation dog similar to Peppa Pig, which has attracted a lot of attention with its Buddhist expressions and movements.
It is called the out-of-circle narrative in Web2. TikTok is a typical Web2 platform, and its main users are young people, especially GenZ and post-00s.
They don't know much about cryptocurrencies and are typical outsiders.
Recently in the United States, the first automatic suggestion for Google searches for "how to buy" is Bitcoin, and the second is Chillguy.
Musk also retweeted Chillguy, and then various celebrities also retweeted it, which made the popularity of this project explode. Today, Chillguy's market value has exceeded 450 million US dollars.
Chillguy and the various tokens that followed, such as KACY, represent a new trend: outsiders are beginning to enter the market.
KACY is a viral animation created by @mark_kacy that has been shared by millions on Instagram and TikTok.
And then there is live broadcast.
The two most popular elements of MEME coin recently are live streaming and TikTok, and Live combines these two elements.
A newcomer who was not very familiar with cryptocurrency learned about MEME coin through TikTok and learned how to Pump coin and live broadcast for the first time.
In the live broadcast room, netizens taught him step by step how to update Twitter and how to burn tokens, and the entire community was giving him advice.
Why does MEME coin continue to attract everyone's attention and funds?
In fact, it is very simple, because it can continuously capture the user's attention and time, satisfying everyone's desire to make money quickly.
Just like the reason why SOL chain is so strong is that they not only understand people's hearts, but also can launch matching products, such as PumpFun and Moonshot, which other public chains can only dream of.
Ever since Bitcoin hit a new high, the fastest way to make money has been MEME coin.
If the issuance of coins by celebrities and their crazy promotion at the beginning of the year can be regarded as the official activation of the MEME track, then the AI MEME craze some time ago and the listing of Binance have confirmed the status of MEME in this bull market.
Therefore, once a trend is formed, it will not be easily reversed. We just need to sit tight and hold on, and the MEME coin market is likely to have another big explosion.
