The recent plunge of new coins reminds me of the "gold pit" in the DeFi era. Looking back at September and October 2020, the market experienced a sharp decline, especially DeFi projects represented by UNI, which were once severely criticized by the market. However, the first wave of the bull market was eventually launched from the DeFi sector. Trends are something we should believe in.
As long as there are hot spots on the chain and the wealth effect is brought about, large funds in the secondary market will pull up these benchmark projects. Once the secondary funds lead the trend, more hot money will flow into the chain to chase the next wealth opportunity. This cycle complements each other and continues to drive.
Recalling that when UNI, SUSHI, and YFI plummeted, new DeFi projects continued to emerge on the chain. The current situation is similar to that time. Although the new Meme coins in the exchange have fallen sharply, the activities on the chain are still hot.
Next, which track will the funds choose to start the trend first? The answer is clear. After the first wave of trends ends, other narratives will gradually appear. Just like the last round of NFT, Metaverse, GameFi and other projects, they all began to emerge after DeFi completed a round.
Altcoins are on the rise! 3 cryptocurrencies that can double your assets!
DOGE
As a popular online coin, Dogecoin has a large loyal fan base and strong community support, which has led to its popularity, acceptance and market value rising. Especially recently, after SpaceX's Musk mentioned the use of Dogecoin in government efficiency proposals, the price of Dogecoin soared. Coupled with the positive market sentiment brought by Trump's victory in the election, the price of Dogecoin has risen rapidly.
As long as the price of Dogecoin breaks through the $0.5 mark, it is likely to enter the "bull market" stage. And Trump's inauguration may also inject a new wave of momentum into Dogecoin, pushing it towards its goal of $1.
SUN
Solana’s bull case target is $500, and once this key level is broken, it could pave the way for it to challenge its all-time highs and trigger bullish sentiment across the market. This also highlights Solana’s potential for further gains.
The next few days will be crucial for Solana as it will test the sustainability of the current uptrend. Bitcoin’s strong performance has also fueled market optimism, further supporting Solana’s price action. The recent breakout shows that Solana’s bullish momentum continues to build and it is ahead of many other altcoins in the crypto market.
BABY
In the spring of 2023, PEPE's popularity soared, with its market value peaking at $1.6 billion, making early investors millionaires. This explosive growth triggered the so-called "memecoin season," and other meme-based cryptocurrencies also experienced dramatic fluctuations.
PEPE's future plans include listing on major exchanges and aiming for the goal of "meme takeover". Despite the uncertainty in the future, many are watching whether PEPE can break new highs, especially as the upcoming Bitcoin halving may inspire a bull run in the entire market. In the dynamic and unpredictable cryptocurrency market, PEPE stands out with its unique position and has become a highly watched currency. At present, PEPE still has about 5 times of room for growth.
