Why do some projects delay their launch? The underlying logic is worth pondering.

Once launched, the situation changes. Projects with high market participation and strong consensus have already accumulated chips among retail investors. They will hold tightly, even bottom-fish. Although the market seems enthusiastic, in reality, a liquidity trap is in place.

Trying to pump the price? Difficult. When retail investors hold chips, they start to sell, while institutions and big players push the price up and open short positions, directly hedging the gains from the rise. A few percentage points of increase are hard to achieve, small investors can't make money, and the market makers' manipulative plans fall apart. This is why timing the launch and liquidity management are more critical than the project itself.