Meme, I now treat it as an emotional lottery, the excitement is real, and so are the knives. Seeing a bunch of people shouting "community consensus" and "culture going viral," my first reaction isn't to jump in, but to ask: who is giving chips to whom, whose unlocks are on the way, is liquidity thin or not... Basically, the smoother the narrative, the more likely it’s an already scripted play.

My two stop-loss rules are: first, write down "where I go if I’m wrong" before entering (for example, if it breaks a key level / when the heat clearly cools down, then exit), don’t rely on on-the-spot self-control; second, keep your position small enough to sleep peacefully, otherwise you’re not trading, you’re being traded.

Recently, social mining, fan tokens, that set of "attention equals mining," sounds pretty nice, but in reality, it’s more like securitizing noise: what you get isn’t value, but the demand for others to keep arguing. The only noise reduction strategy is: only look at on-chain real buying and selling and chip distribution, and avoid screenshots and slogans, since slogans won’t carry you through a drawdown.