I bought a bit of Wangchai, not much, but I want to build and share my views:
First of all, I was lucky to watch the 'Green Hat' live stream that day, and I was fortunate to get in early. However, unfortunately, I took a hit midway. Fortunately, I managed to get back in time, but it was at a much higher position than my initial entry. Still, I'm on the ride.
First, let's discuss the narrative of Wangchai. This narrative can be broad or narrow, but from the perspective of community building, it can't be too small; rather, it has limitless potential, especially since no meme with a Chinese name has reached any significant height yet. If we look at it from this perspective and FOMO, the potential is enormous, but the journey might also be long.
Next, let's talk about why so many people are willing to voluntarily contribute to Wangchai. Previously, we saw many memes that had their own 'consensus groups' and 'holding groups' where everyone worked together, but the exception during May Day ended up being 'the more you build, the more the coin drops.' However, this is not the case for Wangchai. Many people's contributions are purely voluntary, and the fundamental reason is: they have made money from Wangchai.
'Green Hat' indeed has something special. During the live stream, he asked the viewers to build their holdings before he went to CTO, so everyone was on the ride, and everyone made money. Due to 'Green Hat's' impressive CTO, no one wanted to get off the ride and hoped to see their holdings' profits grow more, which encouraged everyone to voluntarily contribute. This is a positive cycle! Instead of forcing a so-called 'consensus group,' pulling people in to take over, and then the front row sells off.
Let's take another look at the front-row holdings of Wangchai. Whether a meme is strong or not can be judged by the stability of its chip distribution. If no one sells, it's hard to say how high it can rise, but it won't drop easily.
The front-row whale holdings of Wangchai are:
· Bonk Guy holds the first position; 'Green Hat' transferred half of his holdings to him for construction, and he definitely won't sell.
· D's big and small accounts hold the second position. This is CryptoD's small account, the founder of D group. It's rumored that D is very optimistic about 'Green Hat,' and the D group members are also very optimistic about Wangchai. The address of D's big and small accounts has already released one-third, still holding 63%, and the remaining is also unlikely to be sold.
· DNF's big account holds the third position; DNF has also released one-third of its coins. The current holdings are also profits. Whether DNF will sell is uncertain, as it's also a speculator. However, over the past few days, it seems DNF has been helping Wangchai push, indicating optimism toward Wangchai. Given that the current holdings are profits and the entry point is low, the probability of selling is also low.
· Calm Small Account holds the seventh position. It has released 70%, seemingly taking all the profits, wanting to keep a base to gamble a bit.
· 'Green Hat' holds the ninth position. Last night, 'Green Hat' tweeted that he 'doesn't plan to sell the chips in his hand.' In fact, excluding the 4K sold for building Wangchai, 'Green Hat' still has unrealized profits of 20.7K. Even after giving half of the coins to Bonk Guy, there are still so many profits. I truly admire 'Green Hat's' vision and appreciate 'Green Hat's' contributions. Sending the biggest respect.
· The remaining holdings are all unknowns, and there's no need to analyze them.
Finally, let's talk about the risks of Wangchai:
With both TOM and Bonk Guy responding, Wangchai has yet to reach a relatively high position, which consumes two major positive factors. The next potential positive factor would be their buying, but that seems difficult.
Secondly, Wangchai's biggest advantage is the community, but the biggest disadvantage is also the community. Looking at those famous meme assets, they usually have a whale behind them. Purely community-driven coins often face moments of community collapse because when too many people are involved, thoughts cannot be unified. Only with a leader continuously present can they go further. For reference, USELESS has Bonk Guy as its whale.
In short, where Wangchai will go next can be broad or narrow, but even at this moment, Wangchai is already a miracle, and it may be hard to replicate. Respect to the Green Hat!
I hope Wangchai becomes even more amazing!
