#数字资产市场动态 I recently came across a news story that I found quite interesting. The Meme coin HNUT in the Solana ecosystem was still surging two days ago, with a market cap of 70 million and a coin price close to 7 cents. But what happened next? Within two hours, it plummeted from 7 cents straight down to $0.0003, essentially declaring death. On-chain monitoring had already detected abnormal data, and in the end, it was indeed a Rug Pull.

This caused an explosion in the community, but to be honest, I wasn't very surprised. Many people could only lament "another sh*tcoin rug pull," but I want to look at this from a broader perspective — this incident actually confirms one of my recent core judgments.

On-chain data never lies. Over the past few weeks, I’ve been observing the flow of funds: smart money is quietly adjusting its direction. What does this look like? On one hand, a large amount of capital is withdrawing from high-risk, low-market-cap Meme coins; on the other hand, these funds are continuously flowing into BTC, ETH, and projects on mainstream public chains with real ecosystems. HNUT’s rise to zero is essentially just a microcosm of the last wave of retail investors entering at the peak, greedily getting cleaned out. It’s like a warning siren, reminding the market: the bubble built purely on emotion and hype has reached the point of explosion.

What does this mean? Market sentiment is shifting. The previous FOMO (fear of missing out) will be quickly replaced by FUD (fear, uncertainty, doubt), and risk aversion will heat up rapidly.

My straightforward judgment is: in the short term, within a 1 to 4-week window, the market will undergo a correction triggered by collapsing confidence and capital outflows, with altcoins and Meme sectors bearing the brunt. Coins that lack real ecosystem support and are solely maintained by stories and hype are at very high risk. In the medium term, over a 1 to 3-month cycle, this cleansing isn’t the arrival of a bear market but rather a "self-repair" process that healthy bull markets must go through. Capital and attention will return to value-driven tracks — projects with real user bases and sustainable revenue, such as DeFi projects and infrastructure tokens, will have the opportunity to lead the next wave of gains once the emotional dust settles.

Ultimately, top traders are not competing to see who makes the fastest profit on sh*tcoins, but who can survive the longest and see through the market. I’ve always emphasized the importance of on-chain fund flows and warned against irrational market exuberance. The HNUT case is the best textbook written in real money by the market. The market is always teaching us lessons; the key is whether you’re willing to learn.