I've seen this pattern before.
Token launches.
Runs up.
Drops hard.
-80% and people disappear.
Not just retail.
The bigger names too.
They don't make announcements.
They just stop being around.
That's what I expected here.
$PIXEL dropped 83%.
I assumed the same thing happened.
Then I started checking again.
And they were still there.
Animoca.
OpenSea.
Others I expected to move on quietly.
They didn't.
That's what made me pause.
Not the price.
Not the chart.
That.
Because I've seen how quickly attention leaves when something actually dies.
And this didn't look like that.
At the same time I don't fully know what they're seeing.
Could be conviction.
Could be slow exit.
Could be something I'm missing completely.
All three feel possible.
But I stopped assuming the outcome just from the chart.
Have you ever seen something drop hard and still not get abandoned?
