Answering a group member’s question: Why do I feel it’s risky when Persistent Bro keeps averaging down and going long on $ESP? While I was getting stopped out, Persistent Bro kept adding to his position and brought his $ESP average down to 0.07, then closed his long for profit at 0.08 when spot launched. Personally, I wouldn’t play it like this: 1. OI went from 7M to 20M, which means with just 30 accounts pre-launch you can move the price and generate more presale hype, but the team didn’t do that. 2. If it’s just presale wallets creating 100% spot expectations, the perp market narrative pre-launch would break. If they don’t list spot here, they’ll get rekt by Binance and VC will get dumped on. So Persistent Bro’s whole play was just sniping that tiny listing pump. Otherwise, why would the team bother absorbing all the presale and alpha sell pressure to push the price up? The risk/reward here is super low. Overall, it’s just loss aversion at play. Like with my $SOL short—no one can hold it for 2-3 days, or once it goes up, they just want to add more. Keep asking “Why is SOL so strong?”, “Why isn’t SOL dumping yet?” Once or twice is just venting, but if you keep repeating it, it means you have no thesis and just want the chart to move your way. Averaging down with no reason, just to avoid losses, always ends with oversized positions and getting rekt. Liquidation is never far away. Back to my core point: Trading is about expectations, not price.

Moreover, its modular narrative is even worse than Zama's. There's practically no marketing or promotion, so it won't attract any buyers.