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After watching this project for so long, my current conclusion is: I will no longer participate. This is not a momentary emotion but a conclusion based on the delivery status and market performance.
The project's tactics are quite obvious. There is no substantial product progress to speak of, yet they frequently release news before every dip. Once they make a statement, the market immediately weakens. Occasionally coincidental, but if it happens repeatedly, it’s no longer a coincidence. This rhythm and logic of coordination are too clear.
Price movement better illustrates the issue. From the high point, it has been almost a one-way decline, with the drop already halving, and there’s hardly any room for a decent rebound. Every bounce is met with stable selling pressure; as soon as volume increases, it gets hammered down. The consistency of the order book structure is ridiculously high—this does not align with natural market dynamics.
Looking at the details: the so-called activity mainly relies on bots for wash trading and churning to maintain fake depth, creating false liquidity to attract new funds. Coupled with fake breakouts to lure longs, precise stop-loss sweeps, frequent oscillations to wear down investors’ patience, and using funding rates to harvest high-leverage traders, the entire operation runs quite smoothly.
The most ironic part is that the project team still talks about narratives and target prices. No product implementation, no user base, no ecosystem support, no real capital inflow, yet they are full of imagination about the coin’s price. They lack execution in development but are very confident in retail investors.
This is not a project; it’s a manipulation scheme. The logical chain is complete, but there’s no reason to participate anymore.