However, my cousin didn't give a reason at that time.

Let me briefly explain the reasons I followed at that time, as a way to inspire discussion, for your reference only.

1️⃣The market capitalization at the opening is too high, but the overall enthusiasm of the track has not actually emerged.

In other words, if the track does not have sustainability, the leading big brother also has no reason to continuously push the market.

2️⃣It is said that when the market capitalization is relatively high at the opening, everyone is embroiled, and the returns are not ideal.

Then the final result will be that the death spiral will have to take a turn.

Opening high price ➡️ Extremely high popularity ➡️ Low returns ➡️ User loss ➡️ Coin price drop

3️⃣Actually, no matter how big the background or how good the team is,

However, in the context of Web3, there really isn't anyone who can completely break out with new ideas.

It can be considered a habitual bearish view on the potential and value of the entire GameFi sector.

4️⃣At that time, my cousin recommended shorting as soon as I wake up every day, but I was relatively lazy and just held on to the short position I opened a few days ago at 1.2 without making any moves, so it looks like there will be noticeable profits.

5️⃣However, a reminder here: do not imitate, because Brother Sanqian has specifically warned that blockchain games often experience sudden price surges.

This drop is actually possibly related to the war, so we cannot simply look at the project's fundamentals.

Therefore, regarding the subsequent trend, everyone can make their own judgment on whether to continue shorting or patiently wait for the next opportunity to arise.