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Open original source ↗@bittybitbit86 The ICO was at $500m val and the airdrop was obviously cost basis 0, so at $18bn the entire ICO buyer base was up 36x on the $50m invested, which is $1.8bn in profits in the space of 3 days of trading time not including the airdrop. The ICO buyers are still up 5x today. So the chart is not really a mystery with this context.
Not sure you can blame the team for this, they can’t really control people buying it up to 18bn FDV in the first week of trading.
It’s actually probably worse for the team that it went so high on week 1 because (1) MMs maybe hit strikes and (2) having a bad chart and bad vibes isn’t good for a team mid term. It’s not like the team gets to sell in the first week so they need to optimise for longer timelines and stuff like this makes it way harder.
Maybe the structural issue is doing these “cheap sales” just transfers profits to the first buyers and they dump while everyone blames the team, so everyone should try and price sales at the maximum possible “fair price” more like Pumpfun did.