Recently, I've come across a bunch of PFPs and "membership passes," basically paying to buy a sense of community. Whether it's worth long-term, I think we should first look at on-chain confirmation: just like food delivery shows "Order Received / Picked Up / Delivered," every step is transparent, but you have to wait until it actually arrives at your door before opening it—don't get excited and place an order just based on the merchant's promotional images. Many projects' popularity depends on attention span during those first few days; once that fades, they cool off.

Tax hikes and compliance news, which come and go lately, also affect sentiment. When everyone gets anxious, they want to find "members" to huddle with for warmth. But I'm used to being a bit slow; I prefer to wait until transactions, holders, and transfer activities are more stable before jumping in... Anyway, it's not shameful to join later; the worst is rushing in early and becoming a bag holder. That's all for now.