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In this bear market environment, some popular meme coins continue to trade sideways, essentially reflecting a dual situation of liquidity exhaustion and confidence collapse. The bulls dare not push the market aggressively, and the bears lack the motivation to dump everything. The entire market feels frozen. Everyone is waiting—waiting for a signal that can wake the market up.
As a result, the coin prices fluctuate within a narrow range. Those chasing the high are stuck at high levels waiting to break even, reluctant to sell at a loss; those holding want to quickly exit their positions and get out early; and those trying to bottom fish are afraid there is still room for further decline. All three sides are unable to move, relying only on swing trading to buy and sell back and forth. Under this deadlock, no one dares to place heavy bets, and the market becomes highly fragmented with small fluctuations. Truly, it will take time and external stimuli for the market to regain consensus.