Ah, it seems the Meme narrative is getting lively again recently. This wave of Meme hype really is bustling—new memes and old ones are taking turns, and it’s dizzying to watch. I’m the kind of pragmatic type; on the surface I just chant a few lines with everyone, but deep down I’m genuinely uneasy—afraid of FOMO, and even more afraid of getting FOMO’d and then buried.

To be honest, right now ETF fund flows and U.S. stock risk appetite are being interpreted together, which leaves everyone feeling unsettled. It always feels like there’s an invisible force pushing behind every move up or down—but nobody knows when it will suddenly turn.

I set myself a rule: the hype can be hype, but there has to be a stop-loss line. For example, if a certain Meme project has a narrative that’s as sexy as it gets, the moment it breaks my cost basis by 10%, I have to run—no matter whether it might still go up later. Missing out can be treated as paying tuition. It’s better than holding on to the point of going to zero. Still… sometimes setting a stop-loss is hard too. I worry that the moment I cut it, it’ll immediately fly. Sigh—this is how mild anxiety comes about. Behind the hype, the real skill is the stop-loss.