0xSun: The market cycle exhibits a cyclical nature, with retail investors most concerned about the wealth effect.

BlockBeats News, September 24th, Smart Money, and crypto KOL 0xsun.sol (@0xSunNFT) posted, stating that the market cycle has a cyclical nature. Last year, due to the high opening valuation and continuous token unlocking causing selling pressure, VC coins almost became a "scapegoat", while on-chain Meme coins, with advantages such as full circulation and a low entry point, became the market focus.

However, as Meme coin narratives lack innovation, the ceiling is hard to break through, and on-chain liquidity decreases, the market sentiment is gradually shifting towards VC projects with real-world applications, impressive revenue, or strong backing with high ownership concentration, low circulation, and a solid background. For retail investors, the most concerning aspect is the wealth effect. As long as there is a coherent positive news and a real pump, the market will not reject such projects.