SEC Chair Paul Atkins stated at ETHDenver that regulators should not overreact to market volatility, emphasizing alongside Commissioner Hester Peirce that daily price fluctuations are outside the SEC's scope. The agency's focus is on collaborating with the CFTC to advance Project Crypto, defining token classifications and custody rules. This stable policy tone has reassured the market.

However, recently, political tokens have been somewhat awkward. The official Trump coin dropped from a high of $75 to now $2.80, and although search interest remains relatively high, these tokens are heavily dependent on news cycles. Once public sentiment shifts, demand can evaporate instantly. For investors looking to buy the dip, this risk is quite significant.

In contrast, DeFi tokens like Morpho have performed more steadily, recently rising from $1.22 to $1.70, an almost 40% increase. While analysts predict it could reach $4-5 in the future, this growth rate, compared to the potential of early-stage projects, is somewhat slow.

This is why some investors are starting to focus on new projects that are still in early stages but already have actual products supporting them. For example, emerging meme coin ecosystems are not relying solely on hype around a single concept but are building trading infrastructure like cross-chain swapping and token listing platforms. The logic is simple: as long as the meme coin market is alive, regardless of which tokens are popular, there will be demand for these tools.

Historically, SHIB and BONK created millionaires without any products at all. Now, some projects not only have trading tools in development but also claim involvement from the original Pepe creator and endorsements from multiple auditing firms. This combination, during the pre-sale phase, can maintain very low valuations, which from a mathematical perspective, is indeed worth researching.

However, a key point is that the growth paths of political tokens and mature DeFi tokens are predictable, but early-stage projects carry higher risks. The SEC’s stable policy signals are promising, but which direction to invest in still requires due diligence. Smart money isn’t chasing hype but building positions in areas with solid infrastructure support.