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@shitcoin_maxxi @ZeMirch In each of these instances, launch price to bottom is -80 to -90%, and then you get a 4-8x return from bottom back up on the return swing. My instinct is if that these tokens launched at the bottom prices and did a 4-8x off launch, people would say alts are treating them well and the market is “fun”. But patience to buy things (and skill to find bottom) is rewarded now, and being early clearly isn’t. @shitcoin_maxxi @ZeMirch Another way to look at these charts is just to imagine them as charts of investor optimism. At launch, the threadbros are always telling you how this will be the greatest asset ever. There is no chart or token yet, so they cannot be accused of shilling their longs. Plus, launch is a high-attention moment and hyped tokens are usually attached to products people use or want to use. But the net result is that every single optimistic buyer piles in to the launch, often without the self-control to consider what they think is a good price for a long-term buy (or maybe they are just trying to flip it for +30% and don’t care about the valuation). Since peak attention and optimism happens at launch, not clear who the incremental next buyer is. Also, maybe dumb, but it may also explain how these things seem to top out back at prices similar to launch prices again, ie when it uptrends and maximum optimism returns, the amount of optimistic capital is similar to launch. @shitcoin_maxxi @ZeMirch You can throw this out of the window entirely when you get outlier assets (max 1 every few years) or when you get a huge wave of onboarding new users (2021 covid / gme / super speculation era). If new investors are joining, then obviously the maximum pool of optimistic capital is increasing, etc etc.