The big pie brake adjustment, when will the counterfeit finally take off? What is the logic behind the rise of the counterfeit?
Let's talk about this issue. In the past few days, the big pie has started to rest, and there has indeed been a pullback, but unlike the past, the Altcoin has not fallen much, unlike the past when the big pie had a slight pullback, the Altcoin was miserable. Due to the continued decline of the US stock market, coupled with the sudden hawkishness of the old abalone, indicating that the Fed does not need to rush to cut interest rates.
- Near skirt +V:H98KK6
- No threshold, no fees, no pushing exchanges, no trading links
The big pie has finally stopped its crazy run, and is adjusting around 89k, and has once again surged above the 9 mark in just one night, while the Altcoin has also shown signs of bottoming out. So what is the logic behind the rise of the Altcoin?
The most intuitive is the capital. We are currently in the early stage of the interest rate cut cycle, which means that there will be more liquidity flowing into the crypto market in the future, and the flow of capital also has directionality, from real estate to stocks, and then the excess flows into the crypto market, and after entering the crypto market, it first fills the mainstream, such as the big BTC, the second Ethereum, the third Solana, and when they have risen enough, the excess capital will then flow to the smaller market cap Altcoins to pull them up.
Looking at the changes in the Altcoin market cap this year, we can see that there has been a clear upward trend since September, so the Altcoin will definitely have a spring, and we are currently in the pre-outbreak period, which ones do you think are high-quality and can be held?
Today's BTC market analysis: From the K-line, the 1-hour level is bullish (currently it seems to be unable to rise further and is about to consolidate or fall), the 4-hour level is bullish, the 12-hour level is bearish correction, and the daily level is bullish. The intraday resistance is 93,300 and the support is 88,300 US dollars.
Some friends have recently said that the meme is not fun this year, and the Altcoin is not rising. In fact, this is not the case!
Benefiting from Musk's shilling, the market cap of Dogecoin has exceeded $60 billion, driving the meme sector to another high tide, with SHIB exceeding $15 billion and PEPE also exceeding $10 billion, and other second-tier meme coins also easily reaching a market cap of $1 billion.
ACT and PNUT listed on Binance have seen dozens of times increase in just a few days, with a market cap even exceeding $2 billion.
Recently, the FOMO sentiment in the market has been extremely high, especially in the meme sector. Coins like Pepe, Doge, Floki, Wif, Act, and Punt have absorbed a large amount of liquidity in the market. Many long-running projects are far behind the newly launched meme coins. This is the trend, after all, the current number of projects is numerous, and there are traps everywhere, all of which are scythes. However, the existence of meme is completely different, relying entirely on FOMO sentiment to drive, with the heat continuously rising, and there is always liquidity flowing in. Although there are many wild barns during this period, the main driving force is still the retail investors layer by layer!
Musk's shilling has both short-term and long-term effects on the meme coin market.
In terms of short-term impact:
First, significant price fluctuations: After Musk's shilling, the relevant meme coins will show a significant surge in price in a short period of time. For example, on November 13, 2024, after Musk shilled PNUT, it broke through $2.5 in a short period of time, with a 24-hour increase of 422.3%. And on November 11, due to the impact of Binance's upcoming listing of Peanut the Squirrel, PNUT reached $0.28 in a short period of time, with an increase of 141.15% in 1 hour.
Second, the market's attention has risen sharply: Relying on Musk's huge influence, it can quickly attract a large number of investors to focus on the meme coin market, making the relevant coins the focus of the market, triggering investors to follow suit and buy in, thereby further driving up the price.
Third, trading activity has increased significantly: After the shilling, investors' trading enthusiasm becomes extremely high, and the trading volume of the relevant meme coins has risen significantly. SoSoValue data shows that on November 14, 2024, 6 out of the top 10 non-stablecoin trading volumes in the crypto market were occupied by meme projects, and meme projects continue to attract a large amount of liquidity.
In terms of long-term impact:
First, the impact on some coins is extremely far-reaching: Just like Dogecoin, due to Musk's long-term shilling, it has been deeply tied to itself, maintaining a relatively high heat and market position, with a current market value of $22 billion, ranking ninth.
Second, it promotes the development and innovation of the market: Musk's shilling has made the meme coin market highly concerned, attracting project parties and developers to join, promoting meme coins to continuously innovate and expand in terms of technology and application scenarios. For example, FLOKI has developed NFT, DeFi, and chain games projects based on the original meme coin.
Third, it forms a specific market culture: It has strengthened the speculative culture of the meme coin market and the "meme effect", and investors pay more attention to the celebrity effect and market sentiment, which has an impact on investment decisions and market trends, making the market more volatile and uncertain.
The entire Chinese crypto circle is discussing the theft of DEXX today!
The cumulative loss from the theft has exceeded $480 million. This DEXX claims to be a on-chain Binance, an on-chain one-click buy platform for meme coins, which is very convenient for on-chain meme.
From the summary of the stolen assets, the cumulative loss has exceeded $480 million, more than 2 million SOL, more than 20 million USDC, and various meme tokens. From the various records, it may be that the project team embezzled the funds, and the DEXX boss is already in Bangkok "enjoying the good life", and the user's wallet created on DEXX has had all their assets cleared!
On-chain meme is indeed easier to double and double 10 times, but it is also very easy to drop 90% to zero, but the more painful thing is the theft of the wallet, especially for platforms like DEXX, the SOL deposited into it, no matter how much you earn, if you don't withdraw it in time, it will all be stolen, the project party is really despicable, this net that has been cast for a few months has finally been tightened, is your wallet on DEXX still there? Have you been stolen? Everyone is discussing whether this is the super MEME cycle now? There are also many scam projects taking the opportunity to harvest on the chain, when playing MEME, you must be careful and choose the platform carefully!
If you have been stumbling around in the crypto market and can't find a direction! Or you have been losing money all the time! You can follow me or add my WeChat below!
If you want to learn more about related knowledge and market analysis, feel free to consult me, we have the most professional crypto community, publish daily market analysis, and recommend high-potential Altcoin. If you are also interested in researching the surging Altcoin and are interested in the primary market, and want to get the latest market trends in the first time, feel free to chat with me to join us →→
- Backup VX: LS688677
- (You can receive a position allocation strategy, which will teach you how to make money in the bull market and earn coins in the bear market) Investing has risks, be cautious when entering the crypto market.
