If the majority of supply is issued to insiders and they dump it, then most people would have to lose money. Granted I don't know the distribution but hearing supply is very centralised.
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Thats not true at all. If 5 people buy at 100 million MC and the insiders are 5 people holding onto 80%. Each buyer could sell a portion when the next buyer comes in without selling 100%. The insiders may sell nothing until another set comes in. Or they may sell a portion little by little as new money comes in. If we’re speaking theoretical without data, that’s factually inaccurate.