Yesterday, I saw many people reviewing last year's major event in the crypto circle, and indeed, quite a few changed their destiny through that wave of market movement. I have to admit, those who could decisively go all-in and hold on truly deserve respect.

But my own performance was far from satisfactory. I remember around 10 a.m. that day, when the news broke, the price I saw was already at $2, with a market cap of around 2 billion. At that moment, all I could think was, "Why is the market so large right from the start? It feels like there’s no opportunity left." It later rose to $5, and I couldn’t resist making a small move; I doubled my position and then quickly exited. Honestly, I missed out on such a huge opportunity almost entirely.

Since then, I’ve written many reflections. Looking back now, I realize there are mainly these pitfalls:

**The first pitfall is insufficient understanding of market capitalization.** When I saw the 2 billion market cap, I thought it was huge, completely unaware of who issued this coin — a project initiated by a top global influencer. Plus, they even directly promoted it on social media. If I had seriously verified this background at the time, I would have understood that 2 billion isn’t a big deal in the entire market. For comparison, Dogecoin’s market cap is around 300 billion, and PEPE coin was at about 110 billion at that time. Comparing these, it’s clear how much room for growth there was.

**The second pitfall is shallow understanding of market sentiment.** The essence of MEME coins is emotional gathering. Any slight movement requires time to ferment, but this time was different — it was the biggest public opinion event of the day. When I found out about it, it was already 10 or 20 minutes later; logically, it wasn’t early. But from the perspective of the event itself, it was definitely still in the early stage. How strong was the buying momentum? Looking at history, when a major influencer first called out Dogecoin, it surged 8 times in a single day, and then continued to rise another 10 times. Such emotion-driven markets are normal to last a day or two.

**The third pitfall is mindset issues.** The fear of losing principal, feeling scared when prices are high. The opportunity was right in front of me, but I just couldn’t hold on. Ultimately, it was due to insufficient market understanding and lack of confidence in my judgment. It’s not just regret — I have to admit that my skills are still lacking.