The non-farm payrolls data released yesterday had a positive impact on the financial markets. The market generally expected a rate cut in September, and the release of the data further increased the possibility of a 50 basis point rate cut. However, despite the good news, the market fell. In this case, the market is increasingly worried about a further sharp drop.
It is expected that in the next few days, the market may show signs of stopping the decline. Although the market fell yesterday, there is no clear sign of stopping the decline, but I think this moment is approaching. Especially after the release of positive non-agricultural data, the market still fell, which shows that the main force may have done it intentionally.
The current main force may be trying to conform to the expectations of retail investors, so that the bearish retail investors will fall into complacency about their own "superb analysis". Since the market trend has caused retail investors to expect a sharp drop, the main force may create a final short-selling situation to make retail investors continue to be bearish after the good news is announced.
Therefore, the next few days will be a critical period. Although the previous market highs and lows continued to decrease, it has not yet reached a new low. Although yesterday's big negative line is significant, compared with the decline on August 5, the volume is reduced, and the big negative line has a lower shadow, indicating that it is more likely to stop the decline at the current level. If there is a stop signal and no new lows are reached, it will break through the downward trend in the first half of the year and mark the beginning of a new phase of the bull market.
Potential altcoins worth watching now
1. SHIB
The Shiba Inu ecosystem has taken a major step forward with the launch of the ShibDev portal, especially in supporting developers developing on Shibarium. Chief Marketing Officer LucieSHIB said that the portal provides key tools to drive dApp development and is expected to play a key role in the development of Shibarium.
While Shiba Inu started out as a meme coin, recent innovations have shown a broader focus on development and scalability. This portal is designed to meet the needs of the growing community and help Shiba Inu compete more effectively with Ethereum L2 solutions.
2. TREES
As a potential dark horse in the Solana ecosystem, BOME may be about to explode. Since being listed on Binance, BOME’s performance has not improved significantly, and the bookmakers behind it have not yet gone all out. BOME is expected to replicate PEPE's strong moves as trading volumes increase.
The current price is close to the bottom, and the chances of a market rebound are gradually increasing. BOME with a low market value provides a large room for pull-up, and a shocking rise may occur in the future. Now is the best time to lay out, and seizing the opportunity may bring rich returns.
3.DOGS
The DOGS emoji coin, which gained traction on major exchanges such as Bitunix, was inspired by Telegram founder Pavel Durov’s mascot “Spotty” and quickly became popular due to its “click to earn” feature. More than 8 million people participated in the airdrop, and the Telegram community grew to more than 16 million members.
Unlike other meme coins, $DOGS provides actual functionality, is built on the TON blockchain, and most of the 550 billion tokens are allocated to active Telegram users. Binance has also launched DOGSUSD perpetual contracts in the futures market, supporting up to 20x leverage. The current price is $0.001052, up slightly by 0.23% intraday. The future growth of $DOGS will depend on its user appeal.
