The "Shanzhai Season Death Theory" is the most expensive lie during a bull market; Clarifying a fundamental distinction: "short-term & medium-term deleveraging" versus "long-term liquidity shift"; everything we've experienced before is the former; Any healthy bull market must be a "tourist cleansing machine"; Through long periods of boredom and short bursts of panic, it shakes off all the floating chips lacking conviction (don't think you're not one of them) to clear the way for the next round of lighter and more intense rises; This is the brutal aesthetics of a bull market; The market's "fragility" and "doubt" are precisely signals that the market is becoming healthier; It filters out noise and purifies consensus; When the vast majority of people give up their chips and abandon their "illusions" due to pain; The true foundation of cognition and belief is solidified, and this process itself accumulates momentum for the next phase; So, the Shanzhai season is not dead; the script of universal rise has been torn apart; Next, we will see a "boutique Meme Shanzhai season"; Liquidity is no longer scattered like a fairy; it will strike precisely at a few cultural symbols like a spotlight; Victory does not belong to technology, but to culture; In the second half, it's not about who makes money faster, but who withstands the test of time longer; Who has a stronger "narrative gravity"; Who has a deeper "consensus moat"; Who can represent the "uselessness of usefulness" more purely; The new liquidity first seeks not the most stimulating casinos that cannot support themselves, but the places with the strongest consensus; So, in the second half, SOL cannot compete with ETH; Mainnet OG Memes are the inevitable final carriers and will also become the natural choice for funds;