We can now talk about the catch-up mechanism of altcoins in a bull market.
A phrase that everyone is familiar with is that a certain coin will surpass Bitcoin. Although it sounds far-fetched, during bull market speculation, there are indeed cases where small market cap tokens surpass large market cap tokens, and after surpassing, they may reach a short-term peak within the day, for example:
shib surpassing doge in market cap.
pepe surpassing shib in market cap.
trump surpassing pepe in market cap.
I think the way moodeng is moving this round clearly shows that the market funds recognize it as the leading bull, and there is a frenzy to grab shares.
Therefore, I think the target price for the first stage should be benchmarked against PNUT's market cap, above 400 million market cap. The price of 0.4 is the first position where I think it's necessary to take some profits.
Then, near the new high price, with a market cap of 700 million and a price of 0.7, that would also be the spot position for moodeng on Coinbase, which is also the main position for taking profits.
The remaining will be a bottom position, held until the big top of imagination, possibly breaking 1?
Trading meme coins always lacks suitable market conditions and imagination. Since this meme has emerged in the market, it means the right time, place, and people are all in place, and the rest is left to time.
Show original
169.46K
169
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.