In a bear market, the first things to get tossed are always the ones with nothing but a story.
A little after 1 a.m., I went through the top 250 coins by market cap. Only 35 were still in the green over the past 24 hours. BTC was down around 4.5%, trading near 65,800. On an ordinary day, that would already hurt enough. But what really made me stop was the meme coin section:
PENGU was down 16% in a day, hovering around 0.0051, and had lost a fifth over the week;
PUMP, from Pump.fun, was down more than 13%;
DOGE was the gentlest drop of the bunch, but it was still down 7.7%, with the 6-cent level wobbling right underfoot.
The broader market drops one notch, meme coins drop three or four. Of all the mistakes I’ve made over the past few years, the most expensive was trying to catch these high-volatility assets in a panic, thinking, “They’ve already fallen this much—how much lower can they go?” Turns out, they can. The Fear and Greed Index is at 13 right now—extreme fear. Meme coins have no fundamentals to fall back on, so buying the dip depends entirely on sentiment, and sentiment is clearly nowhere to be found tonight.
So tonight, before bed, I’m keeping it simple:
1. I won’t add to or buy the dip on my meme coin positions. I’ll stick to my original stop-loss plan for what I’m holding and won’t move it lower on the fly;
2. I’ll only keep isolated-margin positions in futures, with leverage capped at 3x. Weekend liquidity is thin, and one wick is all it takes;
3. I’ll set alerts at 6 cents for DOGE and 0.005 for PENGU. If they break below those levels, I’ll check the volume tomorrow before deciding. No decisions in the middle of the night;
4. I’ll jot down the urge to buy the dip and revisit it once the broader market has held steady for two or three days.
My rule of thumb: before the broader market stops falling, the more volatile an asset is, the longer you should wait. If a rebound comes, these will probably rise the fastest too—but that’s after confirmation, not now.
Let’s talk: are you still holding meme coins? Planning to ride out the weekend, or have you already sold everything?
$DOGE $PENGU $BTC
This is only my personal opinion and does not constitute investment advice.
A little after 1 a.m., I went through the top 250 coins by market cap. Only 35 were still in the green over the past 24 hours. BTC was down around 4.5%, trading near 65,800. On an ordinary day, that would already hurt enough. But what really made me stop was the meme coin section:
PENGU was down 16% in a day, hovering around 0.0051, and had lost a fifth over the week;
PUMP, from Pump.fun, was down more than 13%;
DOGE was the gentlest drop of the bunch, but it was still down 7.7%, with the 6-cent level wobbling right underfoot.
The broader market drops one notch, meme coins drop three or four. Of all the mistakes I’ve made over the past few years, the most expensive was trying to catch these high-volatility assets in a panic, thinking, “They’ve already fallen this much—how much lower can they go?” Turns out, they can. The Fear and Greed Index is at 13 right now—extreme fear. Meme coins have no fundamentals to fall back on, so buying the dip depends entirely on sentiment, and sentiment is clearly nowhere to be found tonight.
So tonight, before bed, I’m keeping it simple:
1. I won’t add to or buy the dip on my meme coin positions. I’ll stick to my original stop-loss plan for what I’m holding and won’t move it lower on the fly;
2. I’ll only keep isolated-margin positions in futures, with leverage capped at 3x. Weekend liquidity is thin, and one wick is all it takes;
3. I’ll set alerts at 6 cents for DOGE and 0.005 for PENGU. If they break below those levels, I’ll check the volume tomorrow before deciding. No decisions in the middle of the night;
4. I’ll jot down the urge to buy the dip and revisit it once the broader market has held steady for two or three days.
My rule of thumb: before the broader market stops falling, the more volatile an asset is, the longer you should wait. If a rebound comes, these will probably rise the fastest too—but that’s after confirmation, not now.
Let’s talk: are you still holding meme coins? Planning to ride out the weekend, or have you already sold everything?
$DOGE $PENGU $BTC
This is only my personal opinion and does not constitute investment advice.