The current MEME market may experience a phased correction, but the overall trend is still far from over. Here are two objective factors and one subjective judgment I think:
1. The altcoin season has not yet arrived: The current MEME market is only a preliminary climax, and the real altcoin season has not yet begun.
The climax of MEME coins usually occurs when all altcoins move forward in unison, but now Ethereum (ETH) and Solana (SOL) have not yet hit new highs, so the capital momentum of the entire market has not been fully released.
2. There is no super MEME coin like SHIB yet: There is currently no MEME coin in the market with a market value of more than 40 to 50 billion like $SHIB in the previous round.
According to experience, in this round of cycle, once Binance fully supports MEME coins, especially projects like $NEIRO, it will quickly attract a lot of funds in a short period of time.
Therefore, I am sure that there will be a new MEME coin that performs more amazingly than $SHIB.
3. Institutions and traditional VCs have not yet fully entered: Although Crypto VC friends around me have begun to consider how to enter the MEME market, not many have actually participated.
And those friends from the traditional investment circle still mentioned Bitcoin (BTC), Ethereum (ETH) and Solana (SOL) the most.
This reminds me of the peak of the last round of NFT craze, when almost all traditional VCs and financial institutions were discussing how OpenSea and NFT would subvert the world.
Today, real institutional and retail FOMO (fear of missing out) has not yet fully erupted.
Therefore, although there may be a short-term correction, from the overall cycle point of view, the main theme of the MEME market is far from over.
