Recently, the crypto world hasn't been overwhelmed by market trends; instead, it has been stirred up by a certain internationally-backed coin that has caused some fluctuation in people's minds. A few days ago, I was complaining about the boredom of the bear market, but suddenly I was bombarded by explosive messages from various chat groups, all discussing the market of a certain hot coin. Some are shouting that this coin will break through, some have already started testing with small positions, and the most exaggerated is that some are trying to find investment inspiration by researching related information.

Having been in the crypto space for so many years, I have to tell everyone a reality: the essence of this wave of enthusiasm is actually emotional overload combined with cross-sector liquidity flow. Have you noticed that recently, the traditional markets haven't had any outstanding performances either? A large number of newcomers are bored, and suddenly a coin with some hot topic has emerged, immediately becoming a new favorite for cross-circle social interaction. I checked several different types of discussion groups and found that about 80% of the participants are first-time contact with crypto assets. Their questions are nothing more than how to buy, what the starting point should be, whether they will lose everything if they lose, and they have no idea how deep the emotional hype in the crypto circle can go.

Here, I need to highlight a key point: emotional-type coins usually go through three obvious stages—fermentation, celebration, and collapse. Currently, this coin is in the transition from fermentation to celebration, driven by continuous liquidity inflows and the follow-the-leader behavior of new participants.