"Meme coin" is a term used to refer to cryptocurrencies named after characters, individuals, animals, artwork, or anything else that can be mimicked. Most are supported by enthusiastic online traders and followers and are generally intended to be light-hearted and fun. While meme coins may be entertaining to some, they are also highly risky investments and may hold little or no intrinsic value.
Dogecoin, Shiba Inu, and other currencies that may offer more entertainment than usability fall into this category. When buying or trading meme coins, it’s critical to understand the risks to help you avoid unexpected volatility and losses.
In cryptotrading, a buy wall is like a giant, impenetrable fortress of bids that just won't budge - it's a massive accumulation of buy orders at a certain price level that acts as a support and prevents the price from falling further.
Buy walls are often put up by whales (large holders) or market makers who want to manipulate the price or protect their investments. They're like the bouncers at a nightclub - they decide who gets in and who gets rejected.
Example
"I was about to panic sell my Bitcoin when I saw this massive buy wall at $40K. I guess the whales still believe in the HODLing dream."
"Some whale just put up a 1000 BTC buy wall on Binance. I feel like I'm watching a real-life game of Jenga, but with money instead of wooden blocks."
A Bull Market is like a wild rodeo ride for crypto traders - it's a period when prices are surging and everyone is feeling optimistic and excited. It's like the market is saying "yee-haw, let's go for a ride!"
Example
"The 2017 cryptoBull Market was one for the ages - Bitcoin went from around $1,000 to nearly $20,000 in less than a year, and altcoins were popping off left and right."
"Bull Markets can be a lot of fun, but they can also be dangerous - it's easy to get caught up in the hype and make reckless trades or investments."
A bear market is like a big, grumpy bear that eats all your crypto gains. It's when the price of cryptocurrencies is in a prolonged downturn, with no end in sight.
During a bear market, the sentiment in the crypto community is generally pretty negative. People start to doubt whether crypto is really the future, and some even start to panic sell their holdings. But the true believers know that bear markets are just a natural part of the crypto cycle - and that they can even present some good buying opportunities.
Example
"We're definitely in a bear market right now. My portfolio is down 50%, and I'm starting to wonder if I should just cut my losses."
"Some people are saying that this bear market is different, and that crypto is never going to recover. But I've been through this before, and I know it's just a matter of time."
