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Why is the newly launched MEGA performing poorly? I think there are mainly two reasons.
First, the project team distributed airdrops to users who participated in the token sale last year, which creates some selling pressure in the market;
Second, since MEGA has just launched, the project team and its backing venture capital firms might take the opportunity to partially cash out.
Based on past experience, tokens like MEGA that are listed on all major mainstream exchanges tend to rally afterward.
The biggest current problem is that we don't know how much it needs to drop to stabilize and then rebound.
$MEGA