What brothers ask the most is $PEPE—actually, there is a rule in the circle: when everyone stops asking, it might be a signal that it is about to rise. The core problem of PEPE is very clear now: the chips are too dispersed, and it must go through a round of washing. Only after the main force has enough chips will the market truly start.
First, we must recognize the big picture: this round of market is essentially an 'Ethereum market.' If the meme sector has an opportunity, it will inevitably start from the Ethereum chain. Currently, the main meme assets that can stand out on the Ethereum chain are two: $PEPE and $NEIRO.
1. $PEPE: Ethereum meme leader, washing is a key prerequisite
$PEPE is considered the 'true leader' of Ethereum memes, but it ran too quickly in the last round of the market, leaving two core issues:
1. Retail investors hold too much: The vehicle is crowded with retail investors chasing highs, leading to dispersed selling pressure expectations;
2. The futures market is too thick: the derivative market has heavy positions, making it difficult for the main force to smoothly collect chips.
In this case, even if the market has liquidity, PEPE also finds it difficult to surge at once—just like the old issue of $DOGE: the chip structure not sorted out, no matter how strong the market is, it is hard to drive.
But I still have confidence in PEPE, with three core logical points:
• The rhythm of Ethereum's market has not ended, and subsequent capital overflow is inevitable, while memes are always the 'most elastic' sector during capital overflow;
• PEPE at the current price is the most 'brand-effective' asset in Ethereum memes; if the meme sector moves towards institutionalization and lists on major exchanges in the future, it is the only one with a consensus basis as a 'anchor point';
• The only obstacle is 'unwashed scattered chips'—if the dispersed chips are not cleaned up, the subsequent market simply cannot go far.
The common ways of washing are simply three:
• Rapid dive: to eliminate leveraged positions and short-term floating chips;
• Sideways grinding: trading volume continues to shrink, wearing out the impatient retail investors;
• Large range fluctuations: back and forth false breakthroughs, washing away emotionally unstable holders.
The signal for the end of the wash is also very clear and needs to simultaneously meet:
• OI (open interest) significantly decreasing;
• Funding rates turning negative;
• A significant large buy order has appeared on-chain;
• Market sentiment naturally recovers after cooling down.
Wait until these signals gather before taking action, which is the low-risk, high-elasticity entry point.
2. $NEIRO: High-beta rotation asset, suitable for fast-paced operations
Unlike PEPE's 'leader positioning,' NEIRO is a typical 'high-beta light-cap meme,' with very clear characteristics:
• Advantages: High community enthusiasm, funds can quickly drive up prices once they enter, more elasticity than PEPE;
• Disadvantages: Deep retracement, fast turnover rate, completely unsuitable for long-term holding, only suitable for 'fast-paced trading'—shoot once and change places.
It cannot compare with PEPE's long-term value, but in a rotation market, NEIRO's short-term price increase efficiency will be higher than PEPE's, suitable for using 'mobile positions' to speculate, not suitable for heavy long-term holdings.
Key Points to Note
1. $PEPE: Absolute leader of Ethereum memes, there is no problem with the opportunity, but must wait until the wash is over, and the chip structure is sorted out before it will exert force, do not rush to catch the bottom;
2. $NEIRO: A pure rotation asset, relies on fast pace to earn elastic returns, suitable for flexible operations, not suitable for stubborn holding;
3. Overall, both assets have opportunities, but the core is 'waiting'—before the chip structure is clarified, the market will be a grinding process, and blindly entering will only waste time.
