May 6, 2023 Grandpa checks in
Yesterday, B-An launched Floki and #pepe , officially pushing this wave of local dog market to a climax. After the launch, PEPE's market value entered the top 50, and the circulating market value exceeded 1 billion US dollars. PEPE is just a pure meme token. It can be said that there is no business model or fundamentals. The biggest highlight is the increase and consensus. The last meme representative who came out was shib, which also created a myth of a thousand-fold increase. Similarly, PEPE also made a group of early participants rich. Although I don’t understand meme culture very well and have not participated in this wave of PEPE’s surge, I sincerely wish those friends who have made profits in this wave of market.
In addition to PEPE, there is also the recent surge in the price of BRC20 tokens, which has also made a group of people rich. Although there is a slight FOMO emotion, after I understand the basic knowledge of BRC20 tokens, I still cannot understand the logic of its surge, but I still admire these players in my heart. In the B circle, while encouraging innovation, early participants will be randomly rewarded. The popularity of BRC20 this time is a typical example. Instead of being cut by those who issue coins, this kind of early chips is relatively open and transparent. The model of players competing with each other while making the cake bigger is a bit like the beginning of the creation of the pie, and this is one of the important factors that have enabled the pie to survive several death crises.
Of course, the birth of a successful project is backed by countless losses and bankruptcies. As the saying goes, one general's success is the result of the sacrifice of thousands of people. Judging from the price and increase, the PEPE and BRC20 concepts have achieved phased results, but whether they can occupy the forefront of the currency circle market value for a long time still needs time to verify. Grandpa encourages participation in innovation, and even says that you can play with the tokens of related projects, but you must know that these projects are still in the early stages, with huge risk factors, and after this wave of increases, traffic and funds have reached their peaks. It is unrealistic to continue to surge too much, so don't be swayed by fomo emotions and become a receiver. Our main task is still to accumulate capital.
The market is currently trying to attack the daily pressure level. The sudden incident of the Ethereum Foundation transferring 15,000 ETH to the Kraken exchange has added more mystery to the market. The main reason is that the Ethereum Foundation's previous large-scale transfer records are all staged highs in the market, so this behavior represents its bearish view on the market. Although our judgment on the market is not bearish, it has entered the profit-taking range. Therefore, when this wave rises to 30,000-31,000, we will continue to adopt the strategy of implementing batch profit-taking.
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