Last weekend, Musk posted two interesting pictures on social media, one of a dog running in the city and another of him riding a pony.
The release of these two images triggered volatility in the MEME sector, with Babydog experiencing a daily increase of 90%, Doge also rising slightly, and PEPE reaching an all-time high last night.
The entire market is experiencing a small upsurge; this is the power of Musk.
It's Monday again. Let's look at some positive events that could bring certainty to the crypto market:
1- A large amount of capital may enter the market in January. FTX compensation has paid out 98% of retail investors in December, totaling $1.1 billion. It is expected that large compensations of $13.4-15.2 billion will occur in the first quarter, with a high probability of compensation in USDC, which is equivalent to the backing of over 100,000 Bitcoins. Even a small amount of capital flowing into the market constitutes a massive buying power.
Many people initially believed that funds would leave the market after the compensation. If you were a compensator and saw the market surge to 100,000, along with most altcoins and Ethereum not following much, would you choose to leave the market? Or would you continue to fight?
2- In January next year, Trump will also take office, and the SEC chairman will change. Even if things are bad, the coin prices won't be too far off. Of course, we shouldn't have too high expectations. Yesterday, after hitting 100,000, a 20% position was reduced, and if it goes above 150,000, a reduction plan will be considered, aiming to trade altcoins for either short-term or long-term, just to accumulate more altcoins that can outperform the market.
So the risks and opportunities for the future are already very clear. The next step is to consider how to navigate and seize this bull market!
What needs to be done next: identify the bull market background, focus on liquidity, select tracks, and grab the leaders.
So how to select quality altcoins:
Narrative:
Taking MEME as an example, while PEOPLE, DOGE, and FLOKI are all established MEMEs, PEOPLE's increase is small, but DOGE and FLOKI have seen wild surges.
Doge and FLOKI have seen market hype due to Musk's mentions, leading to traffic and fund inflows, and naturally, prices are doing well.
Project community team operations:
The community team actively creates narratives or promotes the progress of listings, such as after listing on Binance, expanding to platforms like CB, Bithumb, Upbit, etc.
Strong market makers:
Supported by strong market makers. Meeting these conditions makes valuation and growth potential greater, while the opposite is limited. This rule applies similarly in public chains, gaming, DeFi, etc., as any currency speculation relies on traffic and funds.
This round of targeted monetary easing focuses on beautiful country projects and ETFs, with MEME receiving the liquidity spillover. The weekend's rise can prove this.
Sweet sister recommends some recently trending wealth coins:
◢ Baby Doge Coin ($BABYDOGE)
Market Cap: $919 million
24-Hour Trading Volume: $403 million
BabyDoge is a branch of Dogecoin, launched on June 1, 2021.
BABYDOGE has recently also abandoned their token contract on Solana. Originally launched on the BNB chain, this meme coin has now expanded to the Solana network.
In late November, Binance also announced the new spot listing for BABYDOGE.
This currency is issued on the Binance Smart Chain. In addition to a deflationary burn mechanism, it collaborates with the stray dog charity organization Paws with Cause, dedicated to helping dogs around the world find homes.
The recent surge of BABYDOGE in turbulent market conditions is mainly attributed to Musk's tweets and the overall development of their team.
◢ $FLOKI
Market Cap: $2.533 billion
24-Hour Trading Volume: $776 million
Inspired by Elon Musk's dog and backed by strong social media support, Floki combines the charm of memecoins with practical utility ambitions.
Self-proclaimed 'people's cryptocurrency' Floki combines narrative and community power with proactive brand promotion.
With the NFT game metaverse (Valhalla), DeFi suite (FlokiFi), and collaboration with Chainlink, Floki's ecosystem promises to deliver substantive content beyond mere speculation.
Its FlokiFi Locker for digital assets enhances its DeFi products.
◢ SuperVerse (￥SUPER)
Market Cap: $940 million
24-Hour Trading Volume: $154 million
SuperVerse represents a multifaceted ecosystem within the cryptocurrency and blockchain space, primarily focusing on the gaming industry.
This ecosystem is powered by the $SUPER token, an ERC20 token that plays a key role in platform operations.
Staking $SUPER tokens unlocks multiple benefits for users, including earning rewards, participating in exclusive events, and accessing customized game rewards within a network of gaming partners. This staking mechanism not only incentivizes participation but also helps protect network security.
SuperVerse is creating a unique ecosystem that provides gamers and cryptocurrency enthusiasts with a new way to interact with digital assets and blockchain technology.
Creating is not easy. Thank you for reading. Friends who want to discuss technology and invest in quality currencies can like and follow.
