Recently, we have captured a significant increase in many new altcoins, as the logic of altcoin rises is still contract-driven, and the trading volume in the spot market has not shown particularly large growth. Therefore, I believe that this wave of altcoin increases lacks independence and long-lasting sustainability, especially when BTC and ETH experience a pullback, these altcoins will also not escape. The main drivers of this surge remain MEME coins and newly listed coins. This MOODENG has increased tenfold from its bottom, but it has also dropped 95% from its peak. This time, pure MEME coins are rising much more sharply than AI agents, and most of them are listed MEME coins. Therefore, we should look for more targets on CEX in the future, and altcoins should no longer focus on long-term holding; it’s better to take profits in the short term whenever possible.