Looking at $LISA's 76% decline in this wave, the underlying logic is actually worth pondering. From KOGE to TIMI and now, there is indeed a certain similarity in the script where small-cap tokens rise and then fall into trouble—when liquidity is abundant, sentiment pushes prices higher; once the funding environment shifts, shallow trading pairs immediately become meat grinders. This is not an isolated case but a market structure issue. Early investors who took the position face real liquidity risk: no buyers when they want to sell, or having to sell at low prices. Cyclically, each market cycle produces a group of such "high-level distressers." If you hold similar small-cap tokens now, what you should be thinking about is not the rebound expectation, but how large your risk exposure really is.