That's interesting, we're visualizing here the usual "consolidation into the winner" as you can see MOODENG outperforming the beta coins such as PNUT, CHILLGUY, GOAT
Long the stronger one if you're bullish, and short the weakest ones if you're bearish
LAUNCHCOIN price action could mirror GOAT price action, where it basically went up in a straight line from sub $10M to $500M mcap, before having a severe -65% drawdown after the FUD about truth terminal tweets being written by a human
Right now LAUNCHCOIN is down -50% from its $360M top, and the FUD is about the broken mechanism (too much $ leaking to snipers + not enough fees to creators)
I don't have any opinion about the FUD, and currently no position on LAUNCHCOIN, but an accelerated capitulation to $100M could offer a good buying opportunity
MOODENG reached $700M mcap, then went down -97%, then pumped 15X off the bottom to almost $350M.
I went back into my crypto history memories and I can't think of a single coin that had such extreme "down then up" moves in such a short period (6 months).
[BONK is a rare example of coin that was able to reach a new ATH after a -96% move from a $300M+ top, but this was after a longer period, and BONK had much less competition during its Q4 23 pump.]
Given the fact that this is already such an outlier, I am pretty convinced that MOODENG topped again for a long time.
Obviously crypto is a place where outliers and 2-3 standard deviation moves are common, and maybe the MOODENG supply has been cornered so much that this reasoning is irrelevant, so I can be wrong.
In November, many CEX memes actually peaked in mid-November, so they were the first to pump strongly right after the election night, and then dino coins started running hard until early December
Basically $ETH must absolutely keep on with the momentum and it could very well go back to $3k in a week, but if it starts retracing a decent chunk of this ETHBTC move, it's game over imo