$MEGA
Good projects do not need to be publicly offered.
Public offerings are meant for cashing out.
In the past, when the market was good, there were many mindless buyers. The project party would give liquidity tokens to market makers (MM), who would cooperate to sell them, for instance, when Move was launched, it cashed out several tens of millions, and even doubled on the first day. Of course, now it has basically gone to zero.
Now that the market is bad, the wave of breaking the offer has come. You think the project party will support the bottom and buy some at the breaking price, but in fact, the project party is also exploiting your psychology to plunder the last liquidity, building positions to short when liquidity is at its peak.
When it breaks down to 50%, they will do some posturing to stabilize the market cap and then continue to sell.
So before the last Zama opened, I left a message saying that according to normal logic, it has broken down, and the short logic should also short. Guess who is shorting? It's hard to guess.
So how much do you think Mega is reasonably breaking down?