Pump is going to issue coins until now, and some information and data are actually open cards. In the end, whether you want to play pre-sale or not, in fact, the core is what you think of Pumpfun's team. 1. The previous funding rounds of the pump token were locked, so the early cheap chips were only in the hands of the team itself. – A key question is will the early chips be smashed? It's up to the team's own ideas and actions, and we can't evaluate that. 2. The Pump team has a lot of money in their hands (previous income + 4B financing money), but will they use it for market cap management? And how? Again, this is a difficult thing to assess. But at the beginning, I definitely won't go to the 4B round of unlocked quota pulling, so will there be other liquidity fund secondary buying? It's hard to tell. 3. Pump's data was recently superseded by bonk, which is a fact. Logically, 4Bs should not be valued. But sometimes it is difficult for you to evaluate with normal valuation logic. So you will find that the current situation is that Pump's position is unstable, but the Pump team has a lot of cards in his hand, and how to go in the future depends on how he plays cards. That's why I said earlier, you can only place bets based on what you know about the Pump team. If you feel like they don't want to build their platform anymore and just leave, don't get involved. If you think they're awesome (not from the perspective of retail investors, but from the perspective of how to make the platform bigger and better), then you can place a bet. For me, the conservative strategy is to look after the market opens, because I don't know the pump team that well and I don't have that deep trust. This strategy suits me better.