August 13, 2024
Musk and Trump had a conversation in X's Space, which lasted for more than two hours. According to the X interface, there were more than 1.2 million people online at most. Later, Musk said that there were actually 60 million people listening online. In this Space, no topics related to cryptocurrency were discussed, but hundreds of thousands of local dogs related to various keywords were issued, and only 3 were successful in the end, and all of them broke the issue price in the end. This shows how crazy the Meme culture is in the entire circle now, and it is no wonder that this year's skyrocketing market mostly occurred in Meme.
However, any hot spot is not a good thing. When the Meme sector enters the stage of issuing new coins to cut each other, it also enters a high-risk period. In fact, up to now, I still can't understand the logic of investing in Meme. If hot spots attract funds, it is actually speculation, but Meme coins have indeed gone through several rounds of bull and bear, or perhaps the B circle itself is the representative of Meme. In any case, through Musk and Trump issuing tens of thousands of coins this time, we also know that it is very difficult to find gold in a sector where issuing coins is so easy. We can't just look at those who are successful, but we should think more about whether we can find SHIB, PEPE, etc.
As for the market, it has been volatile in the past two days. This is a phenomenon of digesting low-priced chips. However, if it is just a low-volatility sideways market, I think it will take longer. Another version will have a larger fluctuation, such as the big cake touching 55,000 again, the previous support. Since the rebound, the market has shown some signs of weakness, so there are great opportunities. Therefore, it is still necessary to maintain a relatively cautious attitude in the short term. You can hold the chips you bought before, but there is little need to increase your position.
In addition, after Ethereum hit a low of 2100, the exchange rate has rebounded in recent days and has been relatively strong. Almost everyone only saw that Sol rose from 8 US dollars to 200, but did not experience the pain of falling from 250 to 8 US dollars. This is like most people only see the tenfold or hundredfold increase of the cottage, but ignore the fact that the big cake can still reach a new high after being cut in half, while 99% of the cottage will be out of the stage forever. When I choose the target, I will definitely take value first in the long run. I can make mistakes, but I can't make no mistakes.
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