Honestly, the current process in the crypto circle has been played out. There are too many participants, and the pattern is too obvious—there's basically no suspense—smart money has long since laid the groundwork, and retail investors only realize too late and rush in as bagholders. Let me break down how this routine operates.

**Step 1: Contract Preheating**
Before a coin is listed on any spot exchange, a batch of funds quietly accumulates on-chain or in the contract market. Their bet is simple—once the news of the listing is announced, capital floods in, and the price is artificially pushed up.

**Step 2: News Sniping**
The moment the official confirms the listing, news traders swarm in. These traders don't genuinely believe in the project; they’re just betting that those who see the news will FOMO and push the price higher.

**Step 3: Dumping**
After the spot trading opens, the previously lurking forces strike simultaneously. They dump all their chips onto retail FOMO buyers chasing the high, causing the price to immediately reverse downward. Within just a few hours, all the upward momentum is released in the opposite direction.

**Step 4: Sentiment Harvesting**
As the price drops to a low, more people start to accumulate. They wait for a statement, a retweet, or an expression from certain key figures to reignite community sentiment and attract a new wave of bagholders.

Looking at recent cases, after a coin is listed, it often drops back to its original point or even below the listing price. Currently, it’s stuck in the fourth stage—mass trapped positions are waiting for a sentiment turning point. Once key figures make a statement, the short sellers and pre-placed forces will once again collectively dump, and the final buyers will be those chasing hot topics and genuinely believing in the narrative.