Years of investing in cryptocurrencies ended up in vain, going all-in on the meme living in a palace.

Yesterday, various cryptocurrency communities were discussing a project called Nova. On the first day of trading, it skyrocketed by 187,048%, reaching a peak market value of $30 million. Its reputation went through a complete reversal within a day, and it instantly became a trending topic.

It started with a hidden launch at 1 a.m., and at 3 a.m., the official Twitter account revealed the contract address. Prior to that, they had blocked several addresses of early hacker.

Many people started criticizing the Nova project for lacking vision, but after the price stabilized during the day, it surged at night, resulting in players who bought in the afternoon gaining 5 to 10 times their investment returns.

After witnessing this series of incredible reversals with Nova, I can't help but feel that things are not as simple as they seem. The manipulation techniques employed here seem to bear a resemblance to Pepe, and there is even a possibility of surpassing Pepe and becoming the next meme king in the billion-dollar club.

1. Strong manipulation and control, acting swiftly

Meme coins that have the potential to skyrocket thousands or even millions of times in market value typically follow two paths:

The first is exemplified by projects like Pepe, Ladys, and Nova, where the projects are relatively centralized and involve blacklisting non-project addresses at the early stages to achieve a high level of control.

The second path is represented by coins like Shib and Cult DAO, where the contracts are clean and decentralized, with a fair launch and no central authority. However, these coins typically go through a bottom consolidation phase for at least two to three months until strong manipulation accumulates enough chips to achieve high control. It's a trade-off of time for space.

As shown in the chart, both Shib and Cult DAO went through a long period of sideways consolidation for over three months, and then experienced explosive rallies within a short span of one to two weeks, becoming meme champions of their time.

Shib achieved a 100,000x increase over the course of a little over a year, while Pepe accomplished a similar feat in just around 20 days. Whether it's trading time for space or acting swiftly, sacrificing decentralization to achieve strong control, there is no inherent superiority or inferiority between the two paths. However, for meme enthusiasts, it provides an additional criterion for filtering New PEPE: if a coin blacklists hacker addresses at launch, it may potentially be a strongly controlled meme coin with high manipulation.

2. Continual buying from smart money addresses

When searching for promising memes, it is crucial to follow the smart money and closely monitor the activities of whales as a foundation for further research.

Last night, on-chain data revealed that even whale investors like Cai Wensheng, the owner of Meitu Xiuxiu, started buying Nova and have yet to sell. There are also rumors that Cai Wensheng expressed optimism about the Universal Basic Income (UBI) social model, which aligns perfectly with Nova's UBI narrative. This inevitably sparks speculation within the community about whether there is any connection between the team behind Nova and these influential figures, and whether the market manipulators possess significant strength.

3. The next big move, providing relief to NFT blue-chip holders

In Nova's economic model, the total supply is 10 trillion, with 95% allocated to liquidity and 5% for ecosystem development. Additionally, the smart contract imposes a 9% tax on selling players, with 3% going towards marketing, 3% automatically added to the liquidity pool, and another 3% converted into ETH and allocated to the relief pool, specifically designed to assist NFT blue-chip holders.

Nova aims to distribute a total of 10,000 ETH through airdrops. The first stage begins once the relief pool reaches 100 ETH, with subsequent stages at 500 ETH, 1,000 ETH, and so on, until reaching 10,000 ETH. Participants can claim the relief funds for each stage upon its achievement.

The NFT market has recently faced a downturn triggered by the Azuki incident, entering a dark period. During its peak in 2022, the total market capitalization reached a staggering $33.7 billion, attracting a large influx of players and NFT purchases. Although the NFT market has been on a downward trend over the past year, it still holds a market capitalization of approximately $9.6 billion.

According to NFTScan data, the market value of 19 blue-chip contracts amounts to 2,128,268 ETH (around $4 billion), accounting for 41.68% of the total NFT market capitalization.

In the crypto industry, airdrops are a common customer acquisition channel, with conversion rates typically ranging from 10% to 40%. Nova is conducting an airdrop targeting high-net-worth individuals in the NFT space. Even with the lowest estimated conversion rate of 1%, this relief program for NFT blue-chip holders has the potential to generate a minimum of $40 million in buying volume. If Nova can successfully distribute the entire 10,000 ETH, it is not impossible to see several hundred million dollars' worth of buying volume transitioning from the NFT blue-chip market to Nova.

Furthermore, according to the Nova official website, approximately 150,000 holding addresses are eligible to claim the ETH relief funds. This indirectly adds a significant number of potential token holders for Nova and increases the possibility of being supported by major exchanges in the future.

As the saying goes, 'The poor play with cars, the rich play with watches.' Similarly, there is a similar saying in the crypto world: 'The poor speculate on coins, the rich speculate on charts.' NFT blue-chip players have practically gathered the high-net-worth individuals and influential figures of the entire crypto industry. Nova's 'robbing the poor to help the rich' approach, by airdropping to high-net-worth users and converting buying volume, deserves an 82 out of 100 for its operations. The remaining 18 points can be expressed in a form of praise, such as '666'.

Lastly,

'Question Nova, Understand Nova, and ultimately Believe in Nova.'

From strong manipulation and control, constantly reaching new highs amid skepticism, combining the grand narrative of UBI brought by AI, to leveraging the Azuki incident to provide relief to blue-chip holders for hot marketing, it is evident that there is an ambitious and professional team behind Nova. With only two days since the project went live, it is worth keeping an eye on Nova's upcoming moves and whether there is a chance for it to surpass Pepe in July, becoming the next billion-dollar meme coin with a 100,000x surge.

Embrace and remain cautious of bubbles; bubbles are the sparks that ignite the market. While you can profit from bubbles, it is important to maintain a skeptical stance towards them.