The first half of 2024 is about to end with a correction and consolidation in the crypto market. During this cycle, BTC rose rapidly due to the promotion of ETFs, while altcoins performed relatively flat. Many retail investors who missed the BTC opportunity often complained about "no sense of participation."
With the market's continued correction and consolidation, especially as a large number of altcoins have almost given back their gains over the past six months, new investment opportunities may be quietly brewing.
The bull market is likely not over yet, with both risks and opportunities
At the initial stage of this cycle, the three core driving forces of ETF, BTC halving and interest rate cuts have been deeply rooted in people's minds.
From the false report of "ETF approval" by a well-known media in October last year that ignited the market, to the official approval of BTC ETF in early January, the expectation gap on ETF dominated the direction and game of the entire market; the BTC halving in April did not cause drastic fluctuations in the market due to the influence of geopolitical conflicts at the time.
With the implementation of the first two core driving forces, it is difficult for them to become the fuel for the subsequent explosion of the market. Therefore, the hype around the expectation of interest rate cuts and the improvement of liquidity caused by interest rate cuts will be the biggest external driving force for the subsequent explosion of the crypto market.
For most crypto investors, perhaps waiting for the release of each core data and earning profits from short-term fluctuations is not the main way to make profits. Therefore, we just need to make it clear that in a longer time span, the market still has the benefit of interest rate cuts to look forward to. This is enough to show that the bull market is most likely not over yet, and pullbacks and consolidations mean the birth of opportunities.
From a risk perspective, the depth of BTC's pullback is smaller than the previous round. In the case of external negative factors, it may fall further and test a lower support level.
From the perspective of opportunity, the "M top" was formed in a short time and with a small amplitude. The existence of expectations for interest rate cuts also indicates that the market is most likely still accumulating strength for the next climb, and the market has encountered support at around 55,000.
There is a high probability that long-term opportunities exist, and the cost of chips and the preservation of principal will be the key factors in determining the next wave of returns.
Meme: The track with the best odds this round
The wealth-making myths of Memecoins such as DOGE and SHIB have been enduring in the industry, and are also an opportunity for a large number of users to choose to enter Crypto.
Memecoin's position in this cycle has been further highlighted. It has gradually developed into one of the core tracks of Crypto in terms of asset market value and trading volume.
The total market value of Meme's assets has exceeded 50 billion US dollars, with a trading volume of more than 4 billion US dollars.
From the ranking of Memecoin, we can see that the Memes after $DOGE and $SHIB are all rising stars in this cycle, which further proves the excellent performance of Memecoin in this cycle.
Judging from the return rate of the track, Memecoin is also the track with the highest overall return, surpassing popular narratives such as RWA, AI, and DePIN.
The core reason why Memecoin is so popular among investors in this round is that Meme’s odds are relatively better.
It is easier for retail investors to obtain early chips: With the expansion of the primary investment market in the encryption industry, the increase in project valuations by VC institutions has compressed the profit margins of retail investors to some extent. In contrast, the distribution of chips in Meme coins is relatively fair, and retail investors have more opportunities to obtain more chips, so the price disadvantage can be significantly reduced.
Unlimited valuation and huge room for imagination: The vast majority of Meme coins have no core business, and their valuations are completely dependent on market imagination.
Low consensus threshold: The content of Meme coins is easier to understand, and investors do not need to have a lot of fundamental knowledge, which can attract the widest range of investors to form a consensus. In addition, Meme coins can capture various hot spots in reality in real time and continue to attract attention and funds.
The risk of Meme coin is that the supply of tokens is too large, making it difficult for investors to find certain targets. At the same time, Meme coin fluctuates violently, and high returns are accompanied by extremely high risks.
Focus on the target
Memecoins are difficult to accurately value and classify, so we will select and classify Memecoins with potential based on their current market value.
Compared with traditional old-brand coins DOGE and SHIB, this round of emerging Memecoin blue chips has better opportunities.
PEPE，WIF
PEPE is one of the most outstanding Memecoins in this cycle, and its price performance in this round is extremely strong.
As for the symbol of PEPE itself, as a meme widely circulated on major social media, it is highly recognizable.
From the perspectives of both market-pulling consensus and cultural consensus, PEPE is the undisputed first choice for Memecoin investment.
In addition, PEPE’s current market value is approximately 5.3 billion US dollars, and the market value level of DOGE or SHIB at its peak has certain odds and market acceptance.
As one of the most representative Memecoins in the Solana network, WIF has performed well in the current cycle.
It is popular for its image of wearing a hat, and this image has also spawned many other memecoins wearing hats.
WIF often shows strong rebound strength after a decline, so it becomes the first choice for many investors to buy at the bottom.
DOG，BOME
As a leader in the rune track, DOG is likely to explode in the future as BTC rises.
As an upgraded and iterative solution for inscriptions, runes are expected to attract market attention again through a FOMO effect similar to inscriptions, and are particularly likely to stimulate the enthusiasm of retail investors.
In addition, as a benchmark for new assets and with expectations of future listings, these factors may become key factors driving DOG's rise.
BOME has demonstrated its characteristics as a representative asset in this cycle. It was listed on Binance in just 3 days and exceeded a market value of 1 billion US dollars, leading a new wave of pre-sale payments and is deeply favored by investors.
As part of the PEPE culture, BOME's current market value is about one-tenth of PEPE. Although its initial performance has been impressive, the second wave of the market has not yet started, so BOME has considerable potential for explosive growth.
