#mega
Good projects don't need public offerings. Public offerings are just for cashing out. In the past, when the market was good, many people blindly bought in. The project team would give liquidity tokens to market makers (MMs), who would then help sell off their holdings. For example, Move made tens of millions of dollars in cash out when it launched, and it even doubled at the opening. Of course, now it's basically worthless.
The market is bad now, and a wave of price drops is coming. You might think that the project team will support the price and you'll buy some at the price drop, but actually, the project team is taking advantage of your psychology to plunder the last bit of liquidity and short the market when liquidity is at its highest.
Once the price drops to 50% below the initial offering price, they'll put on a show of stabilizing the market value to artificially inflate the price, and then continue selling off their holdings.
So before the last Zama opening...
I just left a comment saying, "The normal logic is that the price has broken through, so the short sellers' logic is also going to be invalidated." Guess who's short? It's so hard to guess.
So, how much of a breakout is reasonable for Mega Evolution?
