In crypto you can make a multi billion + token project even if your product is only temporarily useful. $PUMP fits this bill exactly. Other interesting cases include the myriad of L2s on ETH, such as $ARB which are barely used today. Last cycle of course you had Axie ($AXS), NFTs with $BLUR etc. All multibillion dollar projects / all with a similar fate.
It’s not the fault of the team that crypto investors poorly project out how sustainable the underlying economic activity is (which is extrinsic to the team’s ability to execute) and by extension earnings/cash flow..
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