Here’s my thesis.

Who are selling?

Mostly who paid outrageous amount for NFT in past weeks. The only reason they bought the NFT was for this airdrop.

Now who has the money? Believers who held the NFT for 3 years. Wait till these come back.

In 1 day, over $1Billion volume, airdropped to almost everyone, even Solana phone & OG wallet.

One of the most successful airdrop ever. People are too quick to judge since they have Hyperliquid to compare but look at their fanbase.$PENGU