The Nvidia earnings report that the whole world has been waiting for has been announced, surpassing market average expectations, but not exceeding the 'highest expectations', leading to a drop in Nvidia's stock price—falling by more than 5% at one point after hours, before narrowing the decline.
The gameplay in this bull market hasn't changed; it's still on-chain meme and CEX Bitcoin. Currently, on-chain memes are in a pullback, yet Bitcoin continues to set new highs. These two factions are clearly independent and disconnected, and neither looks favorably upon the other.
In the past 24 hours, the total liquidation amount was $399 million, which only happened under the circumstance of Bitcoin reaching new highs. I can't imagine how many people would be liquidated if Bitcoin experiences a significant pullback. Cherish life, stay away from contracts.
Bitcoin's overall market capitalization has now reached 60%. According to data from the previous bull market, when the proportion reached about 67%, altcoins collectively exploded. Based on this data, it is likely that it will occur around mid-December, and the latter part may not perform well due to significant pullbacks.
After Bitcoin's new high, there was a slight drop, causing altcoins to collectively cry. The current market situation is very painful. Wall Street funds only buy Bitcoin, and American retail investors only buy on-chain memes, while mid-tier altcoins are temporarily abandoned by the market.
There hasn't been much narrative for memes in the past few days. Major platforms are gradually launching pumps, and junk like Broccoli is also coming out to shout orders and release memes. It feels like the market is about to peak, but the meme won't stop. This narrative will continue, just not as crazy as before; it will gradually cool down.
So how to play meme right now?
I have summarized the following three aspects:
1. MeMe within exchanges
MeMe within exchanges won't be as exaggerated as thousands or tens of thousands on-chain, but it suits large capital amounts or as a key holding. In a bull market, only the liquidity of exchange-based MeMe can carry large amounts of funds. If the market cap ceiling is calculated in hundreds of billions during a massive bull market, there is still a hundred-fold potential.
PNUT
Pnut is my favorite and will also be a significant mark for my position.
1) Musk's new support, its status is only second to doge, and those liked MeMe cannot be compared.
2) Pnut symbolizes animal property rights and opposes corrupt laws. With Musk's promotion, it is now also linked to Trump's campaign victory.
3) New coins on Binance may have a distinction between old and new in the MeMe sector.
4) In the 2021 bull market, Musk utilized his influence to promote Doge, and shib rose to prominence. If this bull market opens, Musk is likely to push a new MeMe again, and Pnut should be the most suitable label.
ACT
In the AI era, AI MeMe has become the hottest topic. Although there are already several MeMes of AI Agent, ACT is the only one listed on Binance, becoming the first choice for exchanges to carry large funds. It is also a newly launched coin like Pnut.
2. High-quality MeMe on-chain
Selecting high-quality MeMe on-chain has significant upward potential. If lucky enough to list on Binance, it will ride a rocket. However, if it starts to fall, it may be very severe, so individuals should still control their positions within a manageable range. I personally will spend some time researching this area.
Due to Punt ACT being listed on Binance a lot, high-quality MeMe on-chain has seen a significant increase, and all of them have started to adjust in recent days. If there is an adjustment, it is just the right time to buy.
3. New MeMe
This area needs to closely follow market hotspots and buy in timely.
Position strategy operation
We are currently in the progress phase from the first stage of the market to the second stage. The full transition to the second stage standard is when BTC shows several daily-level large bullish candles, reaching a new level. However, if we wait for BTC's large bullish candles before shifting to altcoins, the prices of altcoins at that time may be relatively high.
Therefore, the suggested strategy is to start slowly transferring BTC positions to other altcoins, focusing on moving a bit more in key sectors while entering a small position in other sectors. Before last month, most of my positions were in BTC. Since last week, I have been slowly transferring BTC positions to other altcoins, focusing on PNUT and Action.
Finally, is it still worth rushing into Ban?
Today, with Sun Yuchen successfully bidding for 'Comedian', the short-term hype may see a noticeable decline, and in recent days, most popular memes have experienced price corrections of over 30%. The current trend direction is highly uncertain.
But as a Meme coin, the image of 'Ban sticking on the wall' can easily spread. Moreover, the Ban that capitalizes on both 'Sotheby's auction' and 'SpaceX Starship' has a sustained discussion heat and is likely to be mentioned again in the future. Therefore, for me personally, Ban is worth adding to the 'watchlist for selected memes', paying attention to and analyzing large purchases of Ban addresses daily, as there may be a 'second entry' opportunity.
