May 30, 2024 Grandpa checks in
Recently, the "celebrity coin" that has evolved from a meme has become a fake internet celebrity coin. A coin called JENNER has performed a miracle of 160 times in one night. The initiator of this fake coin is Kardashian's father, a transgender woman, who is a big internet celebrity with 33 million followers on Twitter. At the same time, there are some other unknown local dogs that have skyrocketed because of the "endorsement" of other celebrities. There is no doubt that the "celebrity coin" has once again refreshed the trading popularity of the meme sector. Of course, there is no commercial value behind the celebrity coin, and it is actually hype and speculation.
Perhaps influenced by the recent crypto craze, President Biden has also begun to contact key figures in the cryptocurrency industry during his re-election campaign, seeking guidance on "the normal development of the crypto community and crypto moving forward." According to sources, the Biden campaign team's attitude towards digital asset leaders changed dramatically about two weeks ago, which coincided with Trump's public comments in support of crypto. The former NFT, the current celebrity coins, and the upcoming campaign will continue to bring new traffic to the B circle.
Generally speaking, if the market is overheated in the short term, there is a high probability that funds will withdraw. I also pointed this out yesterday. As of today, the Meme sector has fallen across the board, with Bonk and Pepe falling by more than 20% and 10% in 24 hours, leading the decline in the market. It is worth mentioning that Pepe's market value ranking is about to enter the top 20. For a copycat Meme, it is indeed beyond the imagination of many people. Perhaps for the B circle, traffic and hype are an eternal topic. After all, the former big pie also relied on this attribute to develop.
As the pressure level of Bitcoin is always suppressed, and funds are diverted to the celebrity coin and Meme sectors, the market trend in the past two days has only been hovering at a high level, and has slightly fallen back. Currently, Ethereum has reached 3700 again, and the previous high pressure of 4000 points is difficult to break through in the short term. The call at this position has made some money. If it continues to fluctuate, we will look for opportunities to act again. The current judgment on Ethereum is that it is difficult to break through in the short term, and it is optimistic in the medium term, because if the funds of ETFs flow in rapidly, there will be opportunities to break through and lead the market for a while. After all, there will be more good news in the future.
Thank you for your attention and likes.
