When holding a long position in ETH results in significant losses, PEPE has achieved a 47% unrealized profit with 10x leverage. Is this luck or strategy? Looking at the data, as of January 8th, PEPE is quoted at $0.00000628, with a 24-hour trading volume of $822 million, a market cap of $2.64 billion, and a quite active trading scene. However, the risks of altcoins are far greater than those of mainstream coins; a small mistake can lead to a completely different story.

How can one survive longer? First, control the leverage multiple. Comparing PEPE's 10x to ETH's 25x, the risk exposure is reduced by more than one level, and the ability to withstand pullbacks is entirely different. In altcoin trading, a 5-10x leverage should be set as the upper limit; exceeding this is basically gambling on luck. Market rhythm is even more critical. Altcoins are driven by strong themes, with hot spots coming quickly and fading just as fast. You need to sense the trend early, exit immediately before the hype wanes, and avoid getting deeply trapped.

Finally, position management is the last line of defense. Even if you are confident in a certain coin, don’t put all your eggs in one basket. PEPE currently has a good unrealized profit, but no one can predict what will happen next. Take profits in stages when necessary, and keep some funds for emergencies. Don’t repeat the lessons learned from ETH long positions.