Observing the current cryptocurrency market, you will find an interesting phenomenon: many new projects are launched with outstanding narrative packaging, and the fundraising and operational teams also generously provide various support. The problem is, just by looking at the price trends of these projects, you can find a pattern—the surge curves are often steep, followed by significant pullbacks, with obvious price pressure appearing within about 7 days. Mainstream coins like $ETH also find it difficult to sustain upward momentum for project tokens.

What does this phenomenon reflect? On one hand, early participants in new projects tend to exit after profits. On the other hand, after the narrative hype subsides, projects lacking fundamental support are prone to liquidity difficulties. Market participants need to recognize this: beautiful stories and marketing packaging cannot support token prices in the long term. Truly viable projects should be reflected in continuous development progress, community activity, and practical applications, rather than just initial hype speculation.