【When market sentiment burns to 78 degrees, what are the smart money doing】 Lately, when I scroll through the feed, it feels like the speed at which narratives rotate has already surpassed the speed of my finger swiping. AI, memes, macro data, policy news—each can support a hotspot. But for most hotspots, the cycle from breakout to cooling off is getting shorter and shorter. In this kind of environment, the tolerance for chasing rallies is actually very low—by the time you notice and decide to enter, it’s often the most crowded moment of that narrative. So today, I don’t want to keep chasing topics that have already been talked to death. Instead, I’ll take a different angle and focus on a few assets with differentiation, to see whether their volume-price structure and position distribution are really “clean.” 【$TRUMP : The deeper structure of the meme narrative】 Political meme coins like $TRUMP are never driven by fundamentals. Their logic is entirely bound to the rhythm of events and the resonance of market sentiment. When observing coins like this, the key isn’t who’s shouting the loudest—it’s whether trading volume can keep expanding, whether the number of holding accounts is steadily growing, and whether large transfers out on-chain are abnormal. If volume and price move in a healthy way, it suggests real money is providing liquidity. If price is pumped on the chart but the holding structure is thin, then it’s likely short-term funds trading the hype, and the tide will recede quickly. Right now, the overall market is in an extreme greed zone (Fear & Greed Index: 78). In such an environment, meme assets tend to be even more volatile, and the risk of chasing higher prices is also higher. My view is that assets like $TRUMP are better suited for watching for stabilization signals after a volume-shrinking pullback, rather than “catching the bag” at sentiment peaks. 【$ORDI : A cold reflection on the computing power narrative】 $ORDI ’s logic is relatively independent. It carries a kind of imagination within the Bitcoin ecosystem—inscriptions, decentralized storage, and on-chain culture. The explosion of narratives like this often requires time to accumulate; it doesn’t get hyped into the sky overnight like pure memes. The core indicators to watch for $ORDI are inscription activity data on the Bitcoin network, gas consumption related to Ordinals contracts, and exchange net inflows/outflows. If the number of wallet addresses keeps increasing in the holding structure, while exchange balances steadily decline, it means someone is holding long-term rather than flipping for short-term arbitrage. In that case, $ORDI has more solid support than short-term memes. 【$WLD : A validation period for the AI + Web3 narrative】 $WLD combines the dual labels of AI and decentralized computing. Recently, news about OpenAI releasing GPT-6 Astra has also sparked plenty of discussion on the feed. But note: AI narratives are very hot, and there aren’t many projects that can truly land. Whether $WLD ’s price action is healthy depends on whether it can keep up with the overall heat of the AI sector while not being swept up purely by emotion-chasing. If $WLD ’s volume-price movement diverges from other leading names in the AI sector, or if the holding structure shows heavy concentration, then you need to be cautious—this likely means funds are positioning early or quietly withdrawing, rather than genuine community consensus forming. 【Move less, watch more—make your observations solid】 The faster the rotation of hotspots, the more you need to restrain the impulse to trade frequently. With market sentiment currently elevated, many narratives are in the stage of “everyone knows it, but nobody knows when it will end.” In this situation, it’s better to do fewer trades and clearly see the volume-price behavior, holdings, and narrative purity of each observation target. Trading isn’t about who runs faster; it’s about who stays calmer at the critical moment. The above is only my personal observation record and does not constitute investment advice. Markets carry risk, so decisions should be made cautiously. #%E7%BE%8E%E5%9B%BD%E5%88%9D%