2025 Crypto Market Final Review: From Which Layer Does Your "Sense of Achievement" Come From? (Part 3) Small Tracks and Attention Consensus Frenzy (High-Wave Alpha Layer) This is the stage where attention and liquidity collide violently, the source of most "wealth-creation myths" and "participation thrills." 1. Meme Coin: The Unceasing Engine of Emotion It's no longer a "joke," but the most efficient consensus-building tool and liquidity hotspot detector. A successful meme needs strong cultural symbols and a spreadable community story. Meme culture is deeply rooted in crypto, appearing in both the hottest and coldest periods. During periods of market consolidation and lackluster performance of mainstream assets, its eye-catching effect is obvious. Like the Five Dynasties and Ten Kingdoms period, with rapid dynastic changes, abdication was no longer possible, mythical beasts disappeared, and there was no need to search for ancestral saints; one could simply ascend the throne. 2. AI Agent: Most Like the Wildness of Early DeFi The key is not technological perfection, but whether it can be clearly "imagined" as a new species—an on-chain AI entity capable of automatic trading, governance, and social interaction. It blends the imagination of AI, DeFi, autonomous systems, and memes. Mental models need to be adjusted according to market sentiment; mainstream imagination and fleeting attention outweigh rigorous reasoning. "I'm not buying coins; I'm funding and participating in an experiment that could change the rules of human-machine collaboration." DePIN: The King of Fusion From coining a term to DePIN in everything. Combining hardware incentives with grand narratives. From routers and environmental sensor networks to distributed computing clusters focused on AI. It gives investment the tangible feeling of "building the real world." It covers almost all 3C categories. Can DePIN's path be successful? Yes, but only if costs are reduced and efficiency increased. 【Ultimate Law】Narrative Overlay The highest annual gains often come from composite narratives such as "Meme × AI Agent," "DePIN × Environmental Data," and "Agent × Social." A single narrative isn't compelling enough; "narrative multiplication" + Low market capitalization = non-linear growth. The most dangerous thing rationally, the most addictive emotionally. The source of a sense of accomplishment: "I understood 'community sentiment equals value' earlier than the market" or "I discovered a story that others didn't understand." #MEME #AI #DePIN