Last year at this time, Binance's market cap of 500 million USD for meme coins wasn't considered expensive. Now the market cap is in the tens of millions, with a large number in the hundreds of millions. Many meme coins have dropped 90% from their highs and look cheap. So why is there still reluctance to acknowledge that the market is in a bear phase? In the short term, I really don't see any hope for a reversal. Every rebound is just an escape opportunity. This year is a year of defense; we can only play rebounds and not trends, otherwise, we will definitely incur heavy losses. Those who have made money should withdraw funds to survive the winter.

The market is indeed in a bear phase. Just look at these worthless MEME coins on the BSC chain; each one is dropping fiercely, and many have interacted with Sister Yi and CZ.