Recently, a series of puzzling phenomena have appeared in the cryptocurrency market: a group of “dog”-themed altcoins, such as Pepe, Doge, Shib, Bonk, etc., have risen crazily, while some old-fashioned coins that were once popular have Such as Dash, etc., but their performance is mediocre. The market value of junk coins on Binance has also exceeded 100 million US dollars.

This phenomenon can’t help but make people sigh: This is an era when Dogecoin drives out good coins.

Why does this happen?
High market sentiment: In a bull market, investors are often blinded by greed, chasing short-term hot spots, and ignoring the value of the project.

Speculation is prevalent: Many investors are not really optimistic about the value of these altcoins, but have a speculative mentality, hoping to make quick profits.

Information asymmetry: Many investors lack understanding of cryptocurrency and are easily misled by false information and blindly chase high prices.

How should investors respond?
Stay calm and invest rationally: Don’t be swayed by market sentiment, adhere to the concept of value investment, and choose high-quality projects for investment.

Do a good job in risk control: The cryptocurrency market has huge risks. Investors must do a good job in risk control and do not blindly chase the rise and fall.

Improve self-awareness: Strengthen learning about cryptocurrency, improve self-awareness, and avoid being misled by false information.

The surge in OMG is a typical example.

Against the background of the crazy rise of many altcoins, investors saw that OMG was also rising so much that they blindly pursued it, causing its price to rise rapidly. However, the value of OMG itself has not been significantly improved, and its price surge is more the result of speculation.

Investors need to be vigilant and not be fooled by the “junk” in front of them. They must insist on value investing and choose truly high-quality projects for investment.