Although old altcoins are rebounding, I still do not believe they can bring the kind of magnificent market seen in the last round.

Each round of ALT SZN will have its unique narrative and leading tokens. Taking XRP as an example in this round of rise, I know some old players in the XRP community whose core logic has changed to: XRP is the hero against the SEC, which is an emotion-driven perspective rather than a technical or use case argument; the real explosion of XRP came after GG resigned, and the emotions were thoroughly released, which is itself the power of MEMES.

What happened after the explosion of XRP? The MEMES of XRP skyrocketed.

Many people feel that MEME coins are not 'sophisticated' enough, but that is because they do not understand the core essence of MEME. MEME is upstream of everything; it can drive fluctuations in the market and emotions. If you believe that 'use cases' and 'technology' can be revitalized in this cycle, especially optimistic about the 'great rejuvenation' of web3 and traditional sectors, I can only say, you are very MEME yourself.

Back to the trading market, the timeless human nature and profit formulas:

Market maker distribution = ultimate high position retail accumulation.

If you really think that the 'practical narrative' and 'web3 reshaping everything' stories from the last round can still fool retail investors in this round, I can only wish you good luck.

Chasing Green (following whoever is rising) is a very dangerous game.

For example, at the end of September, during the small rally of CULT MEMES driven by SPX6900, some people transferred their funds from CEX to meme projects on the chain, only to possibly buy those meme coins without a future, resulting in account losses. The mistake here is not the fault of MEME, but rather their erroneous chase of the temptation of 'green'.

Currently, meme coins on the chain are correcting, and behind it, there are still a group of people 'Chasing Green', shifting their positions back to altcoins on CEX, and they are likely to continue being hit hard.

However, it is worth noting that quality memecoin communities still exist, are still lively, and have a solid foundation.

If you are bearish on MEMES now, it will be your biggest mistake of this cycle, because the MEMES of this cycle started with PEPE in 2023.

The most popular saying in the last cycle was:
"A day in the crypto world is a year in the real world; a day in NFT is a year in the crypto world."

NFT brought a huge wealth effect to the crypto world in the last round and attracted a large number of high-net-worth users from the traditional world. It cultivated on-chain usage habits and communities while promoting the tokenization of intangible assets. However, due to poor liquidity of NFTs during bear markets, its popularity did not last.

In 2023, the rise of PEPE became the starting point of this MEME super cycle, while 2024 is a foundational year for this cycle. Various bots, Alpha community transformations, new KOL cultivation, VC explorations, and AI agent attempts have laid a solid foundation for the narrative. The real explosion period should be in 2025, and memecoins are expected to become a highly investable category.

Therefore, being bearish on MEMES is equivalent to being bearish on the entire narrative development from the last cycle to this cycle; you are being bearish on the historical progress of the crypto world.

Returning to the essence, Memecoins are the category that best satisfies the profit formula for market makers because they can attract the most users, and market makers can distribute chips to retail at high positions.

Of course, all of this is based on quality memecoins.

The ceiling on the chain has been opened. Remember the AMM formula: the price is the square of the pool, because market makers and whales will remember these assets. If your account ×10, you don’t need too much net inflow.

Like the NFT cycle, 99% of assets will die, but you need to find those with real speculative value.