$FOGO has already fallen below its issue price, doing so within just three days of market opening ⏳. This highlights the growing risk of overvalued public offerings and their impact on overall market confidence 📉.

The project did not provide any airdrops to long-term holders, nor were there any alpha or incentive distributions 🎁❌. Selling pressure remains relatively low because distribution was limited mainly to a public sale. Through the wallet new-token sale alone, nearly 7 million tokens were sold at an implied valuation of $350M 💰.

At this valuation, demand appears unsustainable. If the same sale had occurred on alternative platforms, it is unlikely the project would have achieved even a $100M valuation. Similar offerings on Infinex struggled to fill at much lower valuations 📉.

Only 50M tokens were allocated for ecosystem activities, despite claims of zero listing fees ⚠️. Investors should closely monitor upcoming wallet sales, including $SENT on the 19th 🗓️. Valuation discipline remains critical 🔍📌.