Meme, this wave is heating up again. I also watch it, but to be honest, I don't expect it to be logical; I treat it as an emotional market. My stop-loss usually doesn't rely on "feelings." First, clearly write down the signals indicating narrative failure: on-chain transaction volume drops, the number of addresses holding tokens doesn't increase, liquidity pools start to thin out, or the community shifts from creating memes to mutual insults. Trigger one, reduce position; trigger two, close it all—don't wait for a break-even.

Previously, when I saw economic collapses in blockchain games—inflation rising, studios pumping out content, token prices suddenly turning—spirals quickly turned the "okay" into "gone." Meme is similar; when it rises, everyone is telling stories, but when it falls, only liquidity tells the truth... Anyway, I prefer to earn less first and leave an exit path.