It is said that this is a round of "mutual non-acceptance" market. Retail investors would rather speculate on memes on the chain than take over the so-called "vc coins" with high fdv and low circulation. However, the difficulty of speculating on memes on the chain is also hell-level. According to my experience in tracking smart money addresses, most of the high-win addresses are insider trading.
In fact, you can change your thinking: the circulation ratio of tokens of many old projects is already very high, and the pressure of smashing the market is small. The coin price has fallen a lot from the historical high. If the project party can continue to do things and find new narratives and markets. Then, isn't it better to ambush such old tokens than pvp on the chain?
