Curren MON price is $0.027 It’s funny how the ICO price was $0.025. This shows how heavily hyped the MONAD Chain was. Despite community complaints, they threw their community off the cliff. Then they gave huge airdrop allocations to big accounts just to boost the hype. They thought this move would calm any FUD after the TGE. Today MON is almost 70% down. Would be surprised if they skem pump the token to proof a point!
I understand the urge to lump up Monad Trenches failure to the culture of flexing multiple Xs. But that is not So. There are a Myriad of reasons why Monad isn't off to a great start. To start with, the alienation of its core community. You can fact check this, but every recent Project who has succeeded (esp L1s - Notably Hyperliquid) started with a group of believers who were ready to kick-start the show on the Chain. Monad has few of this, as it alienated most of its community during the Airdrop release (prioritising social influencers 0.1% over 99% of its long term believers) Also, the core projects on the chain failed woefully. Notably is the failure of Monadverse NFT. Now, if the core projects that have been building for months/years on the chain failed, why would I wanna buy a shiny new thing on such chain? Apart from these, the Token didn't have a good start. It ranged at less than $3B at Premarket up until listing while having a Presale at $2.5B. Went below ICO price, manage to do about 90% and spiralled down back to almost ICO Price. Now, no outsider wants to buy a token or trench on a chain they'd feel like Exit Liquidity (adaptation of your words) esp when VC is up big and ICO buyers are thinking of taking an Exit or cutting L. For every chain that have launched and are successful, the activities are started and pushed by core believers who then attracted outsiders to the chain and metrics improved. I and fellow traders trenched on Hypurr (Hyperliquid) and bought $PURR $COPE $SLVA $CAT and a number of tokens even after dudes flexed a 100x on them and still make banks. So the failure of Monad Trenches isn't the culture of flexing multiple Xs (I've not seen anyone shown a 100x on Monad) But riddle me this, why would people trench on a Chain with little core believers, failed initial projects and a tanking token price? That's the question. If these could be answered and solved, Monad will be up to a good start.
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