Some general thoughts on Pump: The uncertainty in pricing is what gives trades like this their asymmetry. But when you introduce premarket action on a reputable, accessible venue, that edge fades. You get cleaner price discovery before the actual launch, which makes the risk/reward a lot worse. Still tradable, but it’s a very different setup now. On the $TRUMP comparisons - I don’t think they hold up. TRUMP had: - No announcement, no premarket - Came out of nowhere: people weren’t even sure it was real at first - Dropped at a weird time, which added to the panic/FOMO Pump has none of that. It’s been prepped, broadcasted, and speculated on for days. The edge isn’t surprise, it’s now execution. As for the onchain vampire angle, most who wanted to derisk probably already have. Maybe some coins still get clipped a bit more, but the more tail end onchain stuff feels mostly flushed to me.