The market trends this month are still evolving. Ethereum (ETH) has seen some interesting gains in this round, and PEPE, as a representative of the meme sector, has recently gained quite a bit of attention. However, the core issues that truly matter are a few:

First, will there be another wave of market movement around the Christmas holiday? Historically, this period is indeed prone to changes in capital flows. Liquidity in the crypto market often fluctuates during holidays, and this time may be no exception.

Second, the transmission mechanism of the Bank of Japan's interest rate hike expectations on the crypto market is worth considering. As a major global economy, Japan's monetary policy adjustments often influence the global liquidity landscape. Under this macro background, the pricing logic of risk assets, including cryptocurrencies, will also adjust accordingly.

Finally, whether the main market can stabilize remains a question. The technicals of mainstream coins are repeatedly at critical points, and it depends on whether subsequent volume can break through. The overall market consensus and sentiment still warrant continued observation.