$FOLKS is now down nearly 90% from its top, and if this feels shocking, it really shouldn’t.
This exact pattern has repeated itself countless times in this market parabolic hype, thin liquidity, aggressive leverage, and then a brutal unwind that wipes out late buyers in days, not months.
What makes crashes like FOLKS even more dangerous is how fast sentiment flips. When price was flying, every dip was “free money” and every resistance was “about to break.” Once momentum dies, the same crowd disappears, bids vanish, and gravity takes over. Liquidity dries up faster than most people expect.
This kind of move doesn’t mean the selling is over either. After a 90% drawdown, hope becomes the last support and hope is not a price floor. In markets like these, it’s completely normal for price to bleed another 70/80% from here without any warning. A move below $1 is absolutely possible at any given moment, especially if the broader market sneezes or funding flips aggressively.
This isn’t new. This isn’t rare. And it’s definitely not a “black swan.” It’s just how leveraged, hype-driven tokens behave once distribution is done. If you’ve been here long enough, you’ve seen this movie before only the ticker changes.
The market doesn’t care about your entry, your conviction, or your average. It only cares about liquidity. And right now, FOLKS is showing exactly what happens when that liquidity disappears.
