In the past few days, I've only made a move on nyx once. Why? Because most coins don't have a second phase. Once the first phase is over, it's over. The meme market right now has no momentum at all. It's very difficult to see a second phase.
What deeply moves me about XPL is that,
even under immense selling pressure, XPL can still rise against the wind. You can't even say whether the investors are strong or not; no matter how strong they are, they still have to calculate costs. But if a coin can rise, it means that the old holders aren't selling, and new ones are coming in to sell. Miners, big players, and leaders who hold a lot of coins haven't run away; how can the consensus drop here?
The consensus of the wealthy is the real consensus, while our consensus as retail investors gets brainwashed, leading to significant losses. 😭😭😭😭
Bringing this thought into MeMe,
many coin collapses can be easily resolved.
This year, no coin has been able to rise just by relying on a single leading force; big MeMes rely on grand narratives from investors (similar to the uselessness of bonk). These leading forces are the only ones that can hold and push up; a single leading force won't work, nor will two or three. There must be a coalition of leading interests for it to work (the case of a crash to 3m and then a recovery is a different story).
10.91K
3
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.