The day before yesterday, I bought a MEME called "dog shit coin". Because it ran into problems before it even opened, I complained about it to death.
For details, see -> MEME coin made me laugh so hard: Reviewing yesterday’s shitty operation of dog shit coin!
https://www.binance.com/zh-CN/feed/post/480219
So today let’s take a look at the performance of the entire MEME market and the crappy knockoff projects on Arb:
Many Chinese KOLs were deceived and their fans were cut off:
The biggest melon I saw when I woke up this morning was XIRTAM. Keywords: raising 2000 ETH, running away, Chinese KOL was swiped, and innocent fans were taught a lesson...
Analysis of the local dogs I follow on ARB:
The two columns I outlined for you are what I hope you guys who play with "longer-lived" local dogs will read:
The first column is the on-chain transaction volume, which is used to determine whether there are people buying and selling. A large transaction volume means a large community and strong consensus. It also costs a lot to increase the on-chain transaction volume, so the GAS is very high.
The 24-hour and 1-hour fluctuations are used to judge the turnover strength. Of course, you also need to consider the size of the pool. Generally, pools with more than 10 ethers are of reference value. The 1-hour fluctuation is used to judge the enthusiasm of community participation.
Okay, let's briefly talk about the situation:
The general decline is inevitable. AIDOGE, which you call AIDOGE, has already started to collapse. I wrote an article before it rose, asking why I couldn’t buy it. I was severely slapped in the face, but I don’t regret it. You must remember that projects with a 15% transaction tax will hinder on-chain transactions. Without transactions, the cost of holding positions cannot be raised, and the game of passing the parcel cannot be played. Therefore, high-tax projects can only be entered and exited quickly, and cannot be held for a long time. I won’t talk about the specific issues. I can write a paper after talking about it.
REKT project, a 0-tax project, I always think it is good, because who among the old investors has not stepped on the pit in the cryptocurrency circle? Who has not experienced a 90% drop in assets? Such sentiment is very good. Then his project was launched for a period of time, and the daily trading volume remained between 300,000 US dollars and 1 million US dollars, and the price fluctuated greatly. This is a good signal, because the turnover is very sufficient, and the holding cost continues to rise. Whether it can be a star project depends on how many people can be moved by the sentiment. To put it bluntly, whether there is anyone who pays for this "cultural creation".
The HOLD project looks like a pig-killing scheme. It has been rising and has never fallen. The trading volume has gradually stabilized to 200,000 US dollars per day. This project is quite dangerous. Its chips must have been eaten up by others, so there will definitely be a guillotine fall. It is a matter of time. If you buy it, you may get 5 times, 10 times, or even 1,000 times the return, but you are likely to be killed instantly.
Next, let’s talk about the “shit” coin
Why should I write it out separately? Because it disgusted me when I bought it. I even thought there was no hope, and 400U was still in the water. However, his food is very cute and funny, which makes me feel that the plot is a bit reversed:
First of all, if you look at the picture above, the “shit” coin is already dead in terms of data, which corresponds to the failure of the project’s opening.
But: Let's look at the 1-hour line. Frame 1 is the point where I rushed in. After I bought it, it flipped over and fell 40 points directly. The market was dead for 10 hours, basically useless. But from the 11th hour, 12th hour, and 13th hour, it suddenly pulled up, and directly gave 2-3 times the profit (local dogs all made dozens to hundreds of U).
What kind of magic operation is this? You say the project is not dead, but the data shows it is dead. You say it was swiped, but he gives you 3 hours to get out of the trap and still let you make money? I really don’t understand!
Of course, it fell again later. Although I don’t know the reason, I can see some situations of this rookie shitcoin:
The project team is really bad and I can't complain about it.
The project party is not giving up and still wants to make trouble.
In addition, things have changed in the community, mainly because most of the local dogs have collapsed and many projects have run away. In this situation, this shit coin is still struggling and has won praise from community members.
What? A project that has not run away for the time being can win the community's praise? What the hell is this?
But no matter what, in this round of MEME dog season, I still want to advise you a few points:
Don’t be anxious about the information around you. If someone loses money on 10 projects and makes money on 1 project, they will show off. In fact, they may have lost money. (Of course, I don’t deny that those smart people have made a lot of money. This is almost the same as buying a rehearsal.)
If you buy MEME, the most important thing is to find an opportunity to withdraw the principal, and then you don’t care about the remaining profits. Don’t be greedy!
MEME is the same as cultural entrepreneurship. There are many IPs that cannot take off, and very few that can. You may not encounter them, and you may not be able to hold on to them if you encounter them. Just be open-minded.
Finally, let me recommend Binance Sensei. You can learn more about it when you have time. After Sensei joined Binance Academy, the school has become very efficient in finding resources.
