Loopring has been steadily dumping with no bottom in sight and nobody is talking about it

It seems pretty clear the exponential price action last year was all based on hype surrounding GME rumours, there was no actual substance to it therefore the price isn’t holding up. The market cap to TVL ratio is still high at 4.5 so I don’t see this downtrend ending anytime soon without any new catalysts. If you compare this to another hyped coin like CRO, which saw a meteoretic rise and who’s price has stabilized since then (especially if you look at the CRO/BTC pair), you can see that LRC is nowhere near a bottom. I could easily see Loopring dropping below $1 again, assuming no significant BTC movements happen.

And yet, all I see on this sub is more threads shilling the coin and doses of hopium about the long term potential? Nobody is seriously discussing price action over the last two months which is a huge concern to me. I’m not arguing that Loopring is a dead project, far from it, but the short term price prospects are very meagre. Everyone should decide what to do for themselves i.e. risk management, but I don’t see any value in bagholding it when there’s no end in sight for the downwards trend.

Don’t get me wrong, I see huge potential in ZK roll ups and in particular LRC for the next five years eventhough I don’t own it myself. In fact, I’m looking for this downtrend to end so I can buy it when it eventually consolidates. Since Loopring is by far the most shilled coin on this sub , I feel bad for the ones that FOMO’d in after the price rise in early November. These people are seeing their gains evaporate like snow in the sun or are suffering big losses. Maybe an announcement by Gamestop at the end of this month or during the next earnings call will stop this downtrend, but I don’t see it stopping anytime soon before that.

EDIT: To anyone commenting that price doesn’t matter, well it does. Let me put it this way, if LRC is $1.35 and you feel like it will move below $1 in the short term: you should absolutely sell because you can increase your holdings for the long term with 35%

EDIT 2: Obviously DCA’ing is also an option when the price drops, I would wait until the price stabilizes though

EDIT 3: Since I received the suicide care message from Reddit and multiple threats in my inbox, I will no longer interact with this thread. What a shame that people can’t behave.