Meebits pulled back all the gains from its post-launch rally—and this is happening before any token announcement has even dropped. It's a textbook case of how quickly momentum fades in these types of events. The initial hype always burns hot but burns out fast once early expectations aren't met. Market cycles in NFT projects tend to follow this pattern: massive buildup, peak excitement during launch, then reality sets in. Without concrete utility or continued narrative fuel, the interest just evaporates. This is a reminder that timing and sustained development matter far more than opening week euphoria.