Shanzhai coins welcome a long-awaited golden cross, the last time was in 2021. However, the current market faces two major challenges:
First, projects are dispersed, no longer concentrated in popular tracks like DeFi and GameFi as they were in 2020-2021;
Second, high leverage is prevalent, making it difficult to easily find explosive coins with 10x or 20x returns as in previous years.
Therefore, this round of market is more focused on capital rotation rather than being driven by a few phenomenal projects lifting the entire sector.
Yesterday, the hot Believe ecosystem token's total market value surpassed $450 million, with the platform creating over 11,000 tokens. Although new 'golden dogs' continue to emerge, most of them plummeted over 50% yesterday.
🔥 Market Hotspot Observation:
1. Launchcoin's market value surged to $300 million, becoming the platform's 'ironclad dragon one', with most meme coins launched being short-term pump coins, similar in playstyle to Virtual and its derivative coins.
2. The blockchain game project NXPC issued its tokens today, reaching a pre-market valuation of $700 million. The project is the official chain transformation of 'Maple Story', with an IP having 200 million fans, a total of 1 billion tokens, an official investment of $100 million, no VC involvement, a small initial circulation, strong control over the market, and high market enthusiasm.
3. Meme leaders like Moodeng collectively plummeted, indicating that 'smart money' is exiting the market, possibly signaling an increased risk of short-term market correction.
