xiyu|Feb 28, 2026 02:59
ME dropped from $10 to $0.1, classic web3 manipulation.
A lot of people say the team could use just 1% of the funds to buy back all the tokens. Wishful thinking.
Just look at the unlock schedule—millions of tokens unlocked daily. Even at $0.1, that’s hundreds of thousands of dollars being dumped. This kind of selling pressure is already significant in today’s market.
What’s MagicEden doing? Abandoning old projects, pretending to work on new ones. If it doesn’t work out, they’ll just say startup success rates are low.
The thing is, they already succeeded as a startup—they’ve made their money. Whether the new projects succeed or not doesn’t affect them at all.
I bought at $1.4, sold at $0.8, lost quite a bit. But looking at the current $0.1 price, at least I ran down from the peak.
We all understand the risks of trading, but you really have to pay tuition in practice to learn the lesson.
Thanks for this lesson.
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