Bitcoin is currently in a high-level oscillation state, and the daily level indicators have shown signs of overbought, but this does not mean that there will be a sharp drop. Adjustments usually occur at the hourly level. This oscillating trend is expected to continue for some time.
It is important to note that every time Bitcoin falls and pulls back, the decline of altcoins is often magnified, which is a common phenomenon in a bull market. And this kind of violent fluctuation of altcoins is expected to continue for some time. For spot holders, it is not a big problem, but investors who trade contracts need to be more cautious.
Furthermore, Bitcoin could continue to break new highs at any time, with its target expected to approach $100,000.
The theft of DEXX this morning has indeed caused a big shock to the market. It is really heartbreaking to see that many friends’ assets have been damaged. This incident not only affects the security of assets, but also messes up the mentality of many people.
The reason for the theft of DEXX may be related to the Bitcat incident last night. Although most tools have difficulty completing transactions, DEXX has been more affected, and some funds have flowed out, causing panic. Some people have even begun to question the security of decentralized trading platforms, and some have speculated that there may be cases of theft. When investing in the cryptocurrency circle, it is particularly important to protect the security of your own funds. Fund security always comes first!
The impact of the DEXX theft on Meme Coin
After the incident, some Meme coins fell significantly, such as BAN, which fell by about 30%, and LUCE, which fell by about 20%. In contrast, Meme coins on the BN chain were less affected, such as ACT and PNUT, which fell only slightly, probably because some chips have been transferred to centralized exchanges to avoid risks.
Meme Trend Analysis
Although the theft of DEXX has brought a short-term impact on the Meme coins on the chain, this will not change the long-term development trend of Meme. The popularity and capital attention of the entire sector are still very high. Adjust your mindset, there are still opportunities in the market, the key is to grasp the rhythm. For the "cheap chips" that may appear in the market fluctuations after this incident, you can continue to observe the opportunity to pick up leaks.
In addition, yesterday OKX launched the spot trading of Moodeng, and BN opened the contract trading of Degen, which shows that the market is still active and investment opportunities are still there. There are many opportunities in the bull market, and the key is to keep a steady mind, be patient and sharp.
The AI Agent track has performed well recently, especially Goat and Virtual, which have bucked the trend and shown strong capital driving force. This may indicate that capital and market sentiment are gradually leaning towards the AI Agent track, and it is worth continuing to pay attention to potential hot spots and other potential projects in this track.
In addition, BN has launched the Degen contract, which may open up a broader market imagination space for Meme coins on the Base chain. If the Meme on the Base chain can successfully land on the BN platform, liquidity and market attention may usher in an explosion, further promoting the craze of the Meme sector.
In the coming period, we need to pay more attention to new things, new narratives and new concepts emerging in the market.
These may be the opportunities in the future. Although I can’t say that I can make money every time I participate, at least I can avoid missing the next wave of hot spots. Perhaps, a meme narrative worth hundreds of millions is quietly brewing, which is expected to bring unprecedented market opportunities.
List of meme coins worth watching after the pullback:
Musk: DOGE, PNUT
Vitalik-backed MEME leader: NEIRO
Art + Fruit Theme: BAN
AI + Meme Combination: GOAT, ACT, CENTS
Zoo theme: MOODENG
Cult Style: SPX
Vertical leader in AI: WORM
BSC Ecosystem Leader: CHEEMS
Frog theme: PEPE, BOME
Short-term risks to watch out for:
Greed index is high: The current greed index has reached 88. Although it is not the peak, it is already very high. Historical laws tell us that the high greed state will not last long and will return to the neutral level of around 50 sooner or later.
The 60-day increase was too fast: the overall increase was close to 50%, which was obviously overheated.
It is impossible for Bitcoin to rise indefinitely: once the big bitcoin reaches a certain threshold, it will inevitably pull back, and altcoins usually follow the decline, which is a common phenomenon.
Still bullish in the long term!
Although there are risks in the short term, from a long-term perspective, we may not have to wait too long. Maybe within a month, altcoins will take off!
reason:
Indicators have not reached the peak: Many key indicators are still halfway and there is still some distance before the bull market reaches its peak.
Bitcoin's market share has increased: This is equivalent to further paving the way for the bull market, leaving enough room for imagination, and laying the foundation for the outbreak of altcoins.
Altcoins haven’t moved yet: At this stage, most altcoins haven’t moved much, how can the bull market end like this? The real climax is yet to come!
