I proposed a target price of $100 on the first day of $FOLKS listing. Subsequently, the price retraced, and many people began to question this prediction. When the market rebounded, I mentioned this figure again, and some threw out various criticisms.

Today, I will present specific data to clarify why I remain optimistic about this project.

Let's start with the fundamentals: $FOLKS has a total supply of 50 million tokens, with only 12 million currently in circulation. At the current price of $5, the circulating market cap is only $60 million. Compared to tokens with a issuance of 1 billion or more, this is a much smaller scale.

Why did I call for $100 on the first day of listing? Precisely because at that time, the circulating supply was extremely limited, and the scarcity created a significant imagination space.

Now that the price has fallen, some people are saying this is a trash project destined to zero, with all kinds of pessimistic views emerging. But if you look at these two data points—total supply of 50 million and circulating supply of 12 million—you'll understand why there's no need to be overly pessimistic. The circulating supply itself is insufficient, and the total market cap isn't large, which inherently determines that its scarcity characteristics won't change.

Friends who are trapped don't need to panic too much. From a supply perspective, the structural advantage of this token has not been compromised.