The MEME coin strategy of some leading exchanges is indeed quite sophisticated, entirely artificially created market movements, with a fixed套路. Let me boldly analyze the entire process.

**Phase 1: Concept Creation**

Certain key figures intentionally or unintentionally introduce new concepts at specific time points, followed by the launch of tokens. This is not a coincidence but a reflection of information hierarchy differences.

**Phase 2: Retail Investors Take the Bait and Accumulate Chips**

Retail investors start participating without knowing the内幕, wave after wave. Meanwhile, the exchange's market-making team has already selected targets and begun secretly collecting chips. Information asymmetry equals wealth disparity.

**Phase 3: Hotness Explodes and Ecosystem Integration**

When the market-making team has accumulated enough, those key figures mention the token again, triggering a FOMO wave. Simultaneously, the platform quickly lists Alpha products, accelerating market fermentation. This step is crucial because ecosystem integration means exponential amplification of topic热度.

**Phase 4: Expectations Overlay and Price Surge**

Expectations for contract and spot上线 begin circulating in the community. The market-making team continues to push upward in line with market sentiment, intensifying the火焰.

**Phase 5: Differentiation Strategies**

The market-making team adopts different strategies based on various situations, which tests their操盘手法.

Tokens that cannot be listed on contracts, after FOMO, start to dump on retail investors, similar to some previous projects that eventually became修仙场.

Tokens that can be listed on contracts but not on spot, the strategy is to first pump on the contract, then dump on retail investors. These tokens carry high risk because of the lack of liquidity in spot markets.

Tokens that can be listed on both contract and spot markets are more complex. After listing on spot, the market-making team will decide whether to directly dump or induce retail investors to承接 through波动. When接盘力 is strong, they may directly砸盘; when weak, they use波动 to诱导 retail investors to承接.

**Core Logic of Market-Making Teams**

For exchanges, there’s no need to bind to a single token long-term. All platform activities serve two purposes: user growth and profit. From the platform’s perspective, operating multiple热度 tokens simultaneously involves far more users than focusing on just one. More users mean more手续费, which is the real business principle.

**How Retail Investors Should Play**

Since信息严重不对称, retail investors need to carefully consider their position.

Don’t aim to be long-term holders, and avoid developing any信仰. The most practical approach is to follow the first mention of a concept by key figures, requiring high-intensity monitoring and quick reactions. Being one second早 or晚 can make a huge difference in收益.

When seeing a token that can list on Alpha, enter as quickly as possible. But after FOMO, never chase highs, because the market-making team can转向 at any time, and chasing highs often results in being套牢.

Once listed on contracts and spot markets, stay alert. No token is worth死拿; if the situation turns unfavorable, cut losses immediately and run. Locking in profits is the first principle.

**Why There Should Be No信仰**

After all these套路, the bottom line is: for platforms, there’s no need or benefit in binding to any particular token. The more users involved, the better, as this is most advantageous for the platform. So never think you’ve discovered some金矿币 or a百倍币. In this game, the platform is the biggest winner.