Be brave once, start being introverted. Actually, $Penguin 100M's logic for chasing isn't a big problem; after chasing, I went to 170M that same night. On @Solana_zh, there's a "if one has it, the other will too" mentality—chasing the pump is still very effective. But the main issue is that once I buy, I go to sleep, and when I wake up, I've broken even... Overall, in the current market environment, chasing high still requires caution, especially when holding overnight, which needs careful consideration. At that time, $RFC 's high point was around 200M. If $Penguin can't recover 100, I will have to cut losses. To be honest, in the past two days, I’ve also had offline discussions with some experts. The common view is that this year's on-chain activity has become very difficult to play, with poor liquidity. That's why I personally have higher expectations for projects like Penguin, because right now, there's a severe lack of a project that can break the ceiling. The SOL chain basically reflects the real on-chain liquidity, and it is more independent of CEXs. This aligns with the narrative I mentioned earlier about SOL on-chain, CEX, and the stock market. Since FTX collapsed long ago, what they might want to do now is to ensure that liquidity can support the token’s longer lifecycle without an exchange. So they list various coins, even tokens from other public chains, for on-chain trading. Compared to the PVP model on CEX, whether this approach will succeed remains to be seen, but the concept is very advanced.