#巨鲸动向 The flow of funds in the cryptocurrency market follows a clear hierarchical path, especially evident when large investments pour in:

Funds will first flow to market leaders—Bitcoin and Ethereum. These leading assets, due to their higher liquidity and market capitalization, naturally become the preferred destination for new funds (, especially from institutional investors ). This stage essentially constructs the foundational framework for the entire bull market cycle.

As the prices of BTC and ETH rise and stabilize, investors begin to seek opportunities for higher returns, and funds spread toward projects that possess real technological innovations and application scenarios. This includes public chain projects such as Solana and Avalanche, as well as various scaling solutions and decentralized financial protocols.

When market sentiment reaches a feverish stage and retail investors' fear of missing out peaks, Meme tokens become the final and most aggressive investment battleground. This stage has several notable characteristics:

These types of tokens tend to have a relatively small market capitalization, resulting in extremely high price elasticity, where a small amount of capital can trigger significant price fluctuations. In a bull market environment, they often achieve much larger gains than mainstream tokens, creating a remarkable wealth effect.

Compared to technical projects, the investment logic of Meme tokens is more straightforward—they attract investors with simple and powerful narratives like "community power" and "grassroots rise," especially targeting new market participants who may not be well-versed in technology.

The price fluctuations of these assets are extremely volatile, potentially achieving increases of several times or even dozens of times within a short period, satisfying the psychological need of speculators for quick profits.

Successful Meme tokens are usually backed by highly active community support, and this sense of community identity constitutes their core competitiveness, transforming into strong market influence and purchasing power in today's social media environment.