In fact, within a year of launching on Binance, it seems that only the $Memecore project has experienced a super high valuation spike followed by a normal pullback. Moreover, Memecore is also one of the most unique projects: it has no narrative, no technical background, and currently is not focused on developing anything or new products, and even institutional financing is unclear. A typical three-no project but really strong. Most projects can be divided into two categories: 1️⃣ Launch and then crash, selling off all tokens, for example: $OPN. 2️⃣ After a launch crash, it rebounds to the highest point at TGE within 7 days, creating a false breakout trend, then crashes again. 3️⃣ Launch stabilizes, steadily rises, then suddenly crashes. Almost all touch their peak and then hit the lowest price within 1-6 months, with 80-98% pullbacks being the norm (the median pullback for new projects in 2025 exceeds 75%). Data from the entire year of 2025 proves that all peaks after listing have a pullback greater than 50% within 1-6 months. For example: $BERA (Berachain) 96.2%, $FORM 93.5%, $ACT 98%, $ONDO 88%, and the one we don't want to mention, $SAHARA 91.8%. Generally, this is because the continuous release of tokens has no new buyers entering, and the market no longer favors the project, leading holders to sell off. Another core reason is that after Bitcoin drops, large funds holding Bitcoin have a risk-reward ratio far greater than holding altcoins. There are also cases of unexpected events: $uxlink was hacked, $Gps had abnormal market making..... This might be an important reference for everyone’s trading, as the market has returned to a normal trajectory: selling pressure and release have become the most important measuring factors. Previously, some projects might have maintained token price growth even during release. Currently, it seems that the crypto market has receded, with news-type positives such as announcing partnerships or launching new products only having a 15-minute short-selling value, while capital-type positives, such as Wordcoin DAT combining stock and currency, have a 7-day trading opportunity. Additionally, do not believe that XX is for a spike, for example, $OPN completely reversed but still crashed entirely, selling tokens to those who "believe that recovering tokens is to control circulation and drive token growth."