In the previous cycle, coins on Solana, colloquially called Sam coins, referred to tokens that had a very low float and by extension, an absurd fully diluted valuation.

Most, if not all, of these tokens went down 90% and then another 90%, as market participants gradually started realizing the level of dilution that was about to happen.

But this playbook was widely adopted. Projects would launch their token with a low circulating supply. And as most participants don’t even concern themselves with FDV, buy these tokens, thus s