Over the last two weeks, we've seen a crazy rally in the charts. Bitcoin breaks through the $90k level, memecoins make thousands of X's, the president of a superpower sells T-shirts with dead squirrels, exchanges flip memes throwing the chart even higher. People are starting to get FOMO, everyone is starting to accept the new trend - memecoins.
This is the whole crypto, the absurdity of reality, the investment of FOMO in the strongest mind, a shift in the usual paradigm. Crypto is the Wild West, you don't know what will happen tomorrow, who will become a millionaire, and who will be wiped out by the market. The bull cycle has started, there is little doubt here, all the indicators point to this, but at what stage are we? The feeling is that somewhere between optimism and faith, then only self-confidence and of course euphoria.
Memcoin supercycle. A fresh narrative has breathed life into the crypto market. It turned out that people do not need important and necessary blockchain technologies and not everything revolves around altcoin tokens, as it was in the last cycle, the romance of technology has passed. Everyone is a dreamer, who does not want to buy a meme token of Elon Musk's guinea pig and wake up tomorrow as a dollar millionaire? Everyone came here for helicopter money, and not to understand your zero-knowledge proof.
Now from every iron they shout that they are entering memes. Even the most seasoned crypto has a couple of squirrels and a hippo in his portfolio. All the shtickoins/memcoins did not make their creators millionaires. To enter or not, as usual DYOR, the main thing is to play with the money that you are ready to leave in the market. For me, this is already a red flag that the narrative is overheated and infls are starting to drive in through their referral in the bot.
Trends in crypto change quickly, liquidity flows. Memcoins will leave their mark in the form of fundamental coins, as it was with shields, and we will move on.
For myself, I have now decided to finish projects in retro, to focus on testnets, many are preparing to enter such a market. I will wait for the decline in the dominance of bitcoin and memes to see what new trend the entire money mass will be poured into.
#BTC #ETH #Bitcoin #PNUT
