Many people may have a few relatively obvious feelings these days. Recently, many people have been releasing information related to Followin, and many people have recently started discussing the topic of MemeCoin again. If you have experienced the overall market situation from last year to this year, is this development path familiar?
First, the topic of Followin began to be hyped, and at the same time, some projects began to officially conduct Followin; then various MemeCoin continued to appear with new wealth creation stories; then does it mean that a new round of market may be about to start?
But different from the Followin season last year, after experiencing the peak of the previous Followin, the Followin track has undergone major changes. In the past, many people could enjoy a luxurious Michelin set meal from Followin, but now more people can only enjoy a pork knuckle meal.
This has also led to the fact that more and more people seem to have little new interest in Followin, and are more willing to gamble on MemeCoin or the like. Followin and MemeCoin have almost become the two topics with the highest attention of retail investors since the current bull market.
1. Simply talk about Followin
In the past few days, the Followin of projects such as Puffer, Swell, and CARV have been discussed more, and recently various KOLs and Followin hunters have also been concentrating on releasing tutorials for participating in the Followin of various projects.
Since the interactive Followin gameplay was launched by Uniswap in 2020, Followin seems to have become one of the best launch methods for cryptocurrency projects, and this process has also accompanied a huge wealth effect. Many people have obtained considerable returns by participating in early Followin, making the act of grabbing Followin a popular money-making track, and even many professional Followin studios have emerged.
In fact, before the Uniswap Followin, the method of Followin tokens also existed, such as the relatively hot ICO trend around 2017, where many people also made their first fortune in this field through ICO. But with the various problems that later emerged in ICO, the popularity of DeFi liquidity mining began to rise, until the Uniswap Followin officially put the act of interactive Followin on the stage.
With the passage of time, the development of things will naturally produce some new changes. Those users who participated in Followin were initially important community members for the project parties, but in the end they gradually evolved into a string of cold wallet address data.
On the one hand, the project parties turn a blind eye to various Followin studios, because the project parties need to use these studios to generate a large amount of interactive data, and then use these data to seek attention and obtain financing. On the other hand, when actually conducting Followin, the project parties will establish increasingly complex and strict witch detection in order to benefit, to eliminate the old and bring in the new, and to carry out precise harvesting and sniping.
Especially since the popularity of point-based Followin methods started last year, this has further facilitated the internal operations (such as old rat warehouses) of the project parties. The result is that the project parties continue to engage in PUA, and the Followin party then begins to counter-PUA, and the various Followin methods are also constantly being improved, such as from manual large-scale Followin in studios to using scripts for automated Followin.
In short, in the face of ultimate interests, most users cannot escape the big scythe swung towards themselves. Although many people now talk about Followin with trepidation, this is also an inevitable path of development of things. As for Followin itself, it can still be seen as a relatively high-probability event. It's just that for the project parties, the further it goes, the more difficult it will be to rely solely on PUA to deceive retail investors to participate; and for ordinary small investors, the further it goes, the more difficult it will be to use Followin to make big money again.
2. Simply talk about MemeCoin
In the previous article (October 10th), we mentioned: Everyone should establish their own investment standards or investment system, and not blindly guess the market, but anchor a kind of operation logic that they recognize.
For example, if you are interested in MemeCoin, but trading MemeCoin will have many execution angles, and different people may also have different angles, some people care most about the activity and influence of the MemeCoin community, some people care about whether there is the potential to be listed on major exchanges and liquidity, some people care about on-chain data (such as the number of holders, holding structure, etc.), some people care about the trend of the K-line, some people like to study the manipulation rhythm of the big players, some people like to use TGbot to rush into new plates... and so on.
You need to find the logic you recognize the most, and then trade according to your own logic, and continuously optimize your trading strategy. Rather than having no judgment logic, as soon as someone says which MemeCoin can make money, just rush in directly, and feel that which MemeCoin will continue to soar and hold on to it completely (long-term holding and completely holding on to it are two different concepts).
Remember in the previous MemeCoin topic series articles, we also sorted out a lot of on-chain tools, methods for finding potential MemeCoin, and trading safety strategies for you. But these methods and strategies also need to be constantly tried and improved by yourself. Many things have already lost their uniqueness when others decide to share them publicly, and what you need to do is to try to extrapolate on the basis of these historical experiences or historical methods, and form a new set of methods that suit you.
For example, for those who like to rush into new plates: some people will use messages to snipe and buy in at the first time, and some people will track the real-time movements of smart wallets to buy in... and so on.
Take the method of using the search for smart wallets' PNL (Profit and Loss) to track potential MemeCoin as an example. If you look at the publicly shared tutorials, this seems to be an easy thing to do, but if you just follow other people's tutorials to do it, you will actually find it very difficult to buy coins that can increase 10 times or 100 times.
First of all, are the smart wallets you found really smart wallets, or are they the wallets of the project parties themselves? These need to be comprehensively judged by you based on multiple dimensions. Secondly, even if the smart wallets seem to be real, are they specifically for retail investors to see? This also needs some basic judgment, as some project parties now use the method of buying old wallets to lure orders.
What you want to see may sometimes be exactly what others want you to see. The public tutorials or methods you are using may sometimes also be known to the project parties. The so-called "the higher the Dao, the higher the magic", there is no unchanging method. The core thing we need to do is to establish our own set of operation logic, and then constantly optimize the corresponding methods based on this logic, so that we can maintain a leading position in the corresponding niche as much as possible.
Of course, if you can't form your own logic or methodology in a short period of time, the simplest way is to just go and buy the head (leading) projects you are optimistic about in batches. For example, if you think and are optimistic about the Runes track having new opportunities in the future, then just go and buy the head project (such as the No. 1 dragon). And if you don't know what Runes is now, then it's not recommended to do any trading operations.
Since we mentioned Runes above, let's talk a little more about it. In the past two weeks, the overall rise of the Runes track seems quite good, with the prices of many coins rising more than 100%. As shown in the figure below.
Taking DOG as an example, the increase in the past month has exceeded 120%, and from the perspective of token holding, the PVP phenomenon of obtaining DOG empty blocks from previously holding Runestone seems to be still quite serious, and the recent rebound in the Runes sector may be more due to the surge in the prices of the top Rune projects driving the FOMO sentiment,
Additionally, from the perspective of trading volume, the Daily Volume Trends of the Runes market also show signs of recovery, as shown in the figure below.
At the same time, I would like to remind you that since many people are trading Runes through portals such as the OKX Web3 wallet, you also need to be aware of fraud prevention and perform necessary checks before operation (such as verifying the Rune ID and the number of holders), because the Runes you search for may also be fake (anyone can deploy projects on the chain), and the trading volume of fake Runes can be manipulated by the project party. As shown in the figure below.
Of course, we have only made a simple judgment that Runes seem to have signs of recovery based on the trend of trading volume. As for whether the hype can continue to blow to the Runes sector in the future, it may still need to be combined with the trend of Bitcoin. Specifically, we can't say for sure. But as long as time and energy allow, it's not wrong to pay more attention to the opportunities in Runes.
From the current market situation, the PVP phenomenon in the Runes sector still seems to be quite serious, and the recent rebound in the Runes sector may be more due to the surge in the prices of the top Rune projects driving the FOMO sentiment. For short-term operations, pay attention to setting stop-profit/stop-loss. If the subsequent liquidity is not sufficient to support new growth, those small Runes or newly hyped Runes will most likely experience a relatively large decline (the faster they rise, the faster they will fall).
If you don't have too much time and energy but don't want to miss the potential opportunities in Runes, the simplest way is to directly buy the top Runes with a small position (or a position that you can bear the corresponding volatility risk). Note that this is just a concept, not a specific trading guidance, and it's not asking you to All In the Runes mentioned in the text, such as DOG. DYOR, and don't forget the two basic rules of investment for beginners we shared before: preserve the principal and don't touch what you don't understand.
In general, the discussion on the topic of airdrops seems to be increasing recently, and some projects have also started to conduct airdrops; the heat of Runes is rising, which has also driven the rise of Glyphs and other accompanying MEME Coins; if there is no major black swan event in the future, the overall market trend seems to be bullish, and the market may only need or wait for a positive stimulus at this stage. As for when the next round of market rally will start, we cannot predict, but if you still remain bullish on the crypto market, just ignore the short-term noise in the market and continue to wait patiently, as the market money will eventually flow from the hands of the majority of the restless to the hands of the few patient ones.
That's all for this issue, you can check more articles through the homepage. The above content is just my personal perspective and analysis, and is only for learning and communication, and does not constitute any investment advice.
