The cryptocurrency world is no stranger to volatility, but few forces have shaken it as dramatically as Elon Musk. With just a single tweet, the billionaire has repeatedly sent shockwaves across the market—sometimes boosting prices, other times triggering massive sell-offs.
When Musk announced that Tesla would halt Bitcoin payments for vehicle purchases, Bitcoin plummeted over 17%. Earlier in the year, his endorsements had sent the same asset soaring by more than double. In another twist, during an appearance on Saturday Night Live, he openly called Dogecoin a "hype" and a "scam," causing its price to crash nearly 40%. Yet, just months before, his praise had helped Dogecoin surge by over 26,000%.
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This rollercoaster has left over 30,000 traders liquidated globally, with more than $23.7 billion in positions wiped out. While some still view Musk as a market oracle, a growing number of long-term crypto investors—particularly those from the 90s generation—are tuning out the noise. After years of losses, lessons, and late-night chart watching, they’ve learned to trade smarter, not harder.
“Concept Coins Are Over—The Bull Run Is Ending”
Sun Tian – Internet Operations Professional | 4 Years in Crypto
“I don’t see any real value in Dogecoin,” says Sun Tian, who watched the meme coin skyrocket and crash without ever placing a bet.
For her, coins like Dogecoin lack fundamental value—no strong community consensus, no real-world use cases, and price movements dictated almost entirely by celebrity tweets. After getting burned early in her crypto journey, she now avoids pure speculation.
Back when regulation was nearly nonexistent, many so-called “celebrity-backed” coins would spike in value only to vanish overnight, with development teams disappearing and investor funds lost. Sun once invested 150,000 RMB into multiple new tokens based on hype alone. Within six months, she lost nearly everything—her portfolio shrunk to just a few thousand yuan.
That painful lesson reshaped her strategy. Today, she focuses on what she calls “emotional money”—profiting from market sentiment rather than blind speculation.
Earlier this year, she entered a low-risk position in a DeFi-based meme coin after a friend recommended it. Unlike typical “air coins,” this one had an active, self-governed community with real engagement.
DeFi (Decentralized Finance) has gained serious traction since last year, attracting investors looking for projects with actual infrastructure. Even meme coins built on DeFi frameworks now carry more credibility than before.
Sun invested 20,000 RMB with a clear exit plan: once profits exceed 5,000 RMB, she’ll withdraw her principal. She monitors community sentiment closely—overly enthusiastic chatter without fundamental updates is a red flag.
While short-term sentiment trading may resemble speculation on the surface, Sun sees it as a disciplined approach compared to chasing viral coins.
On long-term holdings? She’s more cautious than ever.
“Now I’m at a stage where I no longer want to gamble,” she admits. With Bitcoin and other major cryptocurrencies showing signs of cooling, Sun and her peers are preparing to exit rather than double down.
They previously bought heavily during Bitcoin’s March 2020 dip and have already seen over 20x returns. “That’s our benchmark,” she says. “Once we hit that level, we cash out. We’re not chasing moonshots—we’re playing for stability.”
With Bitcoin having rallied for several months straight, Sun believes the bull market is entering its final phase. Her current focus: locking in profits and preserving capital for the next cycle.
Playing Air Coins Short-Term, Banking on Airdrops Long-Term
Song Lin – Blockchain Marketing Specialist | 3 Years in Crypto
Unlike Sun, Song Lin isn’t completely avoiding meme-driven assets—but he treats them like quick side gigs.
He made 2,000 RMB in a single day trading Dogecoin during its May rally. He bought at $0.43 and sold near $0.50—all within one afternoon. After cashing out, he stopped checking the price entirely.
“Dogecoin is just an air coin. Once you make money, get out fast,” he says. “These coins move unpredictably—there’s no point holding on.”
Working in blockchain marketing has given him insight into how easily narratives can be manipulated. Now, he and his colleagues treat short-term trades on hyped coins as a way to earn extra cash—usually with small stakes (around 5,000 RMB).
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Timing and luck play big roles. One colleague turned 7,000 RMB into 11,000 RMB in under 30 minutes during the Dogecoin surge—a win Song admits he envies but doesn’t obsess over. “Markets are unpredictable,” he says. “As long as I’m not losing, I’m fine.”
Beyond short-term plays, Song focuses on airdrops—free token distributions from new blockchain projects. It’s one of the oldest “hustles” in crypto: participate early, complete tasks (like referrals or social shares), and potentially earn valuable tokens before they hit exchanges.
This year, Song paid $100 to subscribe to a premium content platform for crypto enthusiasts—a move that paid off when the platform launched its own token two months later. As an early SVIP member, he received 30,000 free tokens worth around 50,000 RMB at listing.
He hasn’t sold yet. “The platform has high-quality content and real utility,” he says. “I believe in its long-term potential.”
The Hard-Earned Lesson: Celebrity Hype Is a Trap
Xu Wen – Traditional Industry Professional | 6 Years in Crypto
“I don’t fall for Elon Musk’s tricks anymore,” says Xu Wen with a laugh—a self-proclaimed “old-time chive” who’s survived multiple market cycles since entering crypto in 2015.
Back then, he followed advice from Chinese crypto influencer Li Xiaolai, investing in several projects that eventually collapsed to zero. Over the years, he’s seen the same playbook repeat: influencers pump unknown coins, retail investors FOMO in, and prices crash once insiders exit.
When Dogecoin surged due to Musk’s tweets, many newcomers asked Xu whether they should buy in. His advice? Don’t overcommit. For beginners: take profits at 20% gains. For experienced traders: aim for 100% and exit.
That 1x rule comes from his own first success. In 2017, he bought 5.8 Bitcoins at around $6,000 each—spending about $30,000, or one-third of his net worth at the time. He held through volatility and sold only after doubling his investment—locking in roughly $60,000 to fund future trades.
While dreams of overnight wealth still linger in crypto circles, Xu now limits new project investments to 5–10% of his total portfolio. He’s seen too many teams fake progress with weekly reports and polished updates—only for the token to eventually crash anyway.
“‘Don’t panic—the team is working’ has become a joke in our community,” he says wryly.
FAQ: Real Questions from Real Traders
Q: Can I trust celebrity-endorsed cryptocurrencies?
A: Most veteran traders advise extreme caution. Celebrities often benefit from price surges without accountability—treat their endorsements as marketing noise, not investment advice.
Q: How do I avoid getting scammed in crypto?
A: Stick to projects with transparent teams, active communities, and real-world utility. Avoid anything promising unrealistic returns or relying solely on hype.
Q: Are meme coins worth investing in?
A: Only if treated as short-term trades with strict exit rules. Most lack fundamentals and are highly volatile—suitable only for risk-tolerant traders with small allocations.
Q: What’s an airdrop, and is it safe?
A: An airdrop is a free token distribution to promote a new project. While some yield real value, many result in worthless tokens. Never share private keys or pay fees to claim one.
Q: When should I take profits in a bull market?
A: Set clear targets based on your risk tolerance—many experienced traders take partial profits at 2x or 3x gains and preserve capital as the market matures.
Q: Is crypto still worth investing in after all the scams?
A: Yes—but with discipline. The space has matured: DeFi, real-world blockchain use cases, and better security tools make informed investing possible for those who do their homework.
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Final Thoughts: Wisdom Over Hype
The stories of Sun Tian, Song Lin, and Xu Wen reflect a broader shift among long-term crypto participants: from chasing hype to building strategy. They’ve paid their dues—financially and emotionally—and now prioritize sustainability over speculation.
While Musk’s influence remains undeniable, these 90s traders prove that experience trumps celebrity clout. In a world where “crypto days” feel like years, their evolution from reckless beginners to disciplined investors offers a roadmap for anyone looking to survive—and thrive—in this volatile space.